Question

Identify the correct statements on advantages of economic growth in a country A. It can lead to resource depletion and land erosion
B. It improves standard of living of its general population
C. It increases employment opportunities and lowers unemployment
D. It brings in inequalities in income and wealth Choose the correct answer from the options given below:

• A. A and B Only
• B. C and D Only
• C. B and C Only
• D. A and D Only

Hint:

Economic growth generally increases income, jobs, and living standards.

Answer 1

The Correct Option is C

Concept:
Economic growth refers to the increase in production of goods and services in an economy over time.

Step 1:
Resource depletion and land erosion are negative effects, not advantages of economic growth. \[ A \text{ is incorrect} \]

Step 2:
Economic growth raises income and improves living standards. \[ B \text{ is correct} \]

Step 3:
Growth generates employment opportunities and reduces unemployment. \[ C \text{ is correct} \]

Step 4:
Income inequality can be a disadvantage rather than an advantage. \[ D \text{ is incorrect} \]

Step 5:
Hence, the correct answer is: \[ B \text{ and } C \text{ Only} \] \[ \boxed{\text{(3) B and C Only}} \]