Question: reply to post below. agree or disagree? The basic economic problem is that the world population will continue to grow at a rapid rate and
reply to post below. agree or disagree?
The basic economic problem is that the world population will continue to grow at a rapid rate and this will affect world trade to make improvements. The increase in living standard over the past century was because of progress in technology, business investment in capital goods, and people investment in higher education and training. It is expected that limited supplies of energy or of natural resources will slow or stop economic growth.
But, most expects that to be offset by new resources and technological resources, and by greater substitution of other products for the products that becoming increasingly scarce. Wealth created by economic growth in the United States has not been evenly distributed in recent decades as it was in earlier periods. The growth of college graduates as slowed compared to other nations. Also, the demand for medical care and long-term care facilities will increase, and the number of people getting social security benefits will increase as-well.
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