Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

During classes this week, one major thing I learned is how there can be considerable drawbacks to economic growth, to the point where it is

During classes this week, one major thing I learned is how there can be considerable drawbacks to economic growth, to the point where it is advised that companies should not pursue economic growth beyond a certain point. Although economic growth does help improve company operations, the costs associated with the increased technology and capital becomes impractical, if it becomes more difficult to manage the services the company provides. For example, if Fanshawe College's economy doubles, that would mean all of the institution's resources would be doubled, as well. Resources such as students, professors, and college space would all be doubled, and it would be more challenging for Fanshawe College to juggle a larger quantity of resources, while also maintaining similar levels of quality. In addition to this, it is possible that companies can overproduce their quantity supplied, to the point where there is not enough demand in the market to take advantage of the additional resources that are available for consumers to use. In class, it was discussed that China had roughly a 6% growth rate, where large apartments are abundant and that there are bridges built across the country to help civilians get from place to place. However, because

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

American Political Economy In Global Perspective

Authors: Harold L Wilensky

1st Edition

1139227920, 9781139227926

More Books

Students also viewed these Economics questions

Question

Identify traditional external recruitment methods.

Answered: 1 week ago

Question

Describe alternatives to recruitment.

Answered: 1 week ago