1) Raise standard of living because there's an increase in goods and services being produced/
2) Improve firms' and consumers' confidence (positive outlook) which may lead to an increase in investment.
3) Higher employment through diversification.
Disadvantages of economic growth
1)Increase in pollution (noise and congestion).
2) Excessive depletion of non-renewable resources.
3) The benefits of growth between income groups and regions may be uneven leading to an increase in relative poverty. Income inequalities may widen.
Charmaine B · 8 years ago