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Economics

Student Videos

Economic Growth and Economic Welfare

Level:
GCSE, AS, A Level, IB
Board:
AQA, Edexcel, OCR, IB, Eduqas, WJEC

Economic growth is an increase in the productive capacity of the economy and also an increase in real national income.  But economic welfare is a more rounded measure of progress in improving people's lives taking into account for examples changes in health and education outcomes, the level of income and wealth inequality and feelings of security for individuals and their families.

Economic Growth and Economic Welfare

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