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CBSE 2020 Class 12 Economics Outside Delhi Set 1
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Question : 35 of 47
Marks:
+1,
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"Rapid increase in economic growth surely trickles down to the people under the absolutely poor category." Defend or refute the given statement with valid argument.
Solution:
I defend the statement that "rapid increase in economic growth surely trickles down to the people under the absolutely poor category as: (i) GDP Growth is an ultimate solution: When the pace of GDP growth is accelerated new opportunities of employment are generated. Greater the employment, more inclusive would be the growth process implying lesser poverty. (ii) Population control : Poverty can be removed only if growth rate of population is controlled so that increase in GDP is transferred into increase in per capita GDP. (iii) Stability in Price level : Price stability is also an essential pre-requisite of poverty alleviation. If prices continues to rise, then standard of poor people will continue to deteriorating.
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