Answer to Question #93101 in Economics for Vidisha

Question

Analyse the effect of increase in world output?

Answer 1

consequences of increasing world production:

1) reduction of unemployment

2) increase in welfare of the population

3) social sustainability in society

4) strengthening of some countries and weakening of others - widening the gap between countries

5) rapid reduction of natural resources

6) due to lack of natural resources, the third world war may begin