Economic Growth - Mind Map

Mind Maps have been produced to introduce topics and give students an overview of key topics being studied. The maps can be viewed as a whole page or, for those who prefer a more linear approach, as a text version.

View larger version of the mind map.

• Benefits
  • Increase in goods available for consumption
  • Facilitates income redistribution (trickle down)
  • Increase in the general standard of living
  • Improvement in welfare
    • Pensions
    • Benefits
    • Support
    • Housing
    • Infrastructure
  • Improvements in education/health social services
  • Potential for benefits to environment from increased efficiency
• Costs
  • Environmental Impact
    • Negative Externalities
    • Pollution
    • Environmental Degradation
    • Non-renewable resources
  • Opportunity cost of growth
    • Resource allocation
      • Consumer Goods?
      • Capital Goods?
    • Income distribution
    • Wealth Distribution
    • Social Impact - culture, stress, crime, etc.
    • Unsustainable Growth
    • Possible Macroeconomic instability