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Economic and management sciences

Grade 9

Sustainable growth and development

Module 10

Savings and investment

If the savings of individual people and of investors are made available for the expansion of the production capacity, the idea is to produce more goods and services. This also has the effect that people are employed, which, in turn, leads to improvement in the standard of living of the population. The savings are used for INVESTMENT in capital goods (like buildings, equipment and machinery for production).

When the volume of investments increases, the potential for further investment expands and this eventually increases the economy’s capacity for growth in terms of an increase in goods and services. This can help to improve the standard of living, provide more job opportunities and greater prosperity, which is indicative of improved economic growth.

When the volume of investments DEcreases, the potential for further investment decreases and this means that fewer goods and services will be available for satisfying needs, which will result in the eventual shrinking of possibilities for economic growth. Communities in which this happens will eventually become poorer and the possibility of further savings might be eliminated, with catastrophic results for investment and any capacity for economic growth, increasing poverty, unemployment, etc.

The above makes it clear that economic growth is a process by which a country’s capacity to provide goods and services increases in such a manner that there will be an increase in real compensation/remuneration. (Real compensation/remuneration signifies the compensation after changes in price rises have been calculated.) The increase signifies that the physical compensation or wealth of the population has improved, with an accompanying improvement in the standard of living and improved economic growth.

While ECONOMIC GROWTH has to do with an increase in the production capacity of the economy (i.e. the possibility to deliver more goods and services), ECONOMIC DEVELOPMENT signifies an increase in economic growth accompanying an improvement in the quality of life which relates to improved access to education, housing, and other basic infrastructure. Economic development therefore is a more comprehensive concept that includes economic growth.

Activity 1: economic growth and development

Provide your own explanation of the following:

  • SAVING is:
  • INVESTMENT is:
  • ECONOMIC GROWTH is achieved when:
  • ECONOMIC DEVELOPMENT therefore has to do with:
  • Assessment
Learning outcomes (Los)
LO 2
SUSTAINABLE GROWTH AND DEVELOPMENT The learner will be able to demonstrate an understanding of sustainable growth, reconstruction and development, and to reflect on related processes.
Assessment standards (ASs)
We know this when the learner:
2.1 discusses how the national budget, regional and international agreements can be used to facilitate sustainable growth and development;
2.2 investigates and debates the successes and shortcomings of the RDP;
2.3 explains the role of savings and investments in economic prosperity and growth;
2.4 discusses productivity and growth and its effects on economic prosperity, growth and global competition.

Memorandum

ACTIVITY 1: ECONOMIC GROWTH AND DEVELOPMENT

The learner has to complete the following (in her or his own words):

SAVING is the postponement of satisfying personal needs.

INVESTMENT is capital that is invested to make production possible.

ECONOMIC GROWTH is achieved when the increase in the production of a country is larger than the increase in population, which means that the increase in the amount of available goods has created wealth.

ECONOMIC DEVELOPMENT therefore has to do with the fact that the greater prosperity made possible by economic growth has also improved the general quality of the lives of the population, which involves improved access to education, water, housing, etc.

Questions & Answers

Is there any normative that regulates the use of silver nanoparticles?
Damian Reply
what king of growth are you checking .?
Renato
What fields keep nano created devices from performing or assimulating ? Magnetic fields ? Are do they assimilate ?
Stoney Reply
why we need to study biomolecules, molecular biology in nanotechnology?
Adin Reply
?
Kyle
yes I'm doing my masters in nanotechnology, we are being studying all these domains as well..
Adin
why?
Adin
what school?
Kyle
biomolecules are e building blocks of every organics and inorganic materials.
Joe
anyone know any internet site where one can find nanotechnology papers?
Damian Reply
research.net
kanaga
sciencedirect big data base
Ernesto
Introduction about quantum dots in nanotechnology
Praveena Reply
what does nano mean?
Anassong Reply
nano basically means 10^(-9). nanometer is a unit to measure length.
Bharti
do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
Damian Reply
absolutely yes
Daniel
how to know photocatalytic properties of tio2 nanoparticles...what to do now
Akash Reply
it is a goid question and i want to know the answer as well
Maciej
characteristics of micro business
Abigail
for teaching engĺish at school how nano technology help us
Anassong
Do somebody tell me a best nano engineering book for beginners?
s. Reply
there is no specific books for beginners but there is book called principle of nanotechnology
NANO
what is fullerene does it is used to make bukky balls
Devang Reply
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Abhijith Reply
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
carbon nanotubes has various application in fuel cells membrane, current research on cancer drug,and in electronics MEMS and NEMS etc
NANO
so some one know about replacing silicon atom with phosphorous in semiconductors device?
s. Reply
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
SUYASH Reply
for screen printed electrodes ?
SUYASH
What is lattice structure?
s. Reply
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
Sanket Reply
how did you get the value of 2000N.What calculations are needed to arrive at it
Smarajit Reply
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Source:  OpenStax, Economic and management sciences grade 9. OpenStax CNX. Sep 15, 2009 Download for free at http://cnx.org/content/col11074/1.1
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