One of the basic economic defenses of economic growth rests on the conclusion that:

Question

Quizplus · Accepted Answer

Economic growth increases the total output of goods and services in the economy, which helps to fulfill more of the wants and needs of society. While wants and needs may still be unlimited, growth allows for more resources to be available and allocated towards those wants and needs. This helps to alleviate the problem of scarcity, where there are limited resources to fulfill unlimited wants and needs. Therefore, option C is the correct answer. Option A is not entirely accurate as growth can still lead to job displacement and insecurity, especially if certain industries or sectors are disrupted by technological advancements. Option B is not entirely accurate as growth can also lead to increased exploitation of common property resources if proper regulations and management are not in place. Option D may be a potential outcome of a growth-oriented society, but it is not a direct economic defense of growth.

One of the Basic Economic Defenses of Economic Growth Rests