Help with 18 mark question (OCR) (Macro Economics ) Watch

Junaid12
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Hi I needed help with this question
"discuss the extent to which economic growth may benefit the economy"

I was thinking of saying what economic growth is and then discussing the effect it has on the 4 macroeconomic objectives and then giving a few advantages and disadvantages of economic growth.
would this be a correct method in doing this?
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physicsamor
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(Original post by Junaid12)
Hi I needed help with this question
"discuss the extent to which economic growth may benefit the economy"

I was thinking of saying what economic growth is and then discussing the effect it has on the 4 macroeconomic objectives and then giving a few advantages and disadvantages of economic growth.
would this be a correct method in doing this?
I'm on AQA but here's what I would do, I would define economic growth, stating thw difference between short run and long run growth. Then I would state the 4 main macroobjectives

Then I would start by explaining the advantages, (mainly on u/e and growth, living standards) using ad shifting out, to back up whatever I said. Because the diagram will show also the increased inflationary pressures. Then talk about disadvantages in the short run, increased trade deficit from improvement in living standards.

Then I would say in the long run growth is more desirable and explain why (firms innovate as they earn higher profits from the increase in consumer spending, technological innovation shifts the lras outwards, which should satisfy all the objectives) and then say why this is not always good.
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