What are the 4 criteria's for Economic Policy

 ECONOMIC POLICY

Four criteria are:

1. Efficiency

2. Equity

 3. Growth

 4. Stability

Efficiency - In economics, allocative efficiency.
An efficient economy is one that produces what
people want at the least possible cost.

Equity- Fairness.

Economic growth- An increase in the total
output of an economy.

 Stability - A condition in which national output
is growing steadily, with low inflation and full
employment of resources.
 

Economic growth occurs when society produces
more, either by acquiring more resources or by
learning to produce more with existing resources.
Improved productivity may come from additional
capital or from the discovery and application of
new, more efficient techniques of production.

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