In a Transition Economy, What is the Downside of Rapid Economic Growth?

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Q. In a transition economy, what is the downside of rapid economic growth?

  1. Rapid economic growth can be difficult to regulate
  2. Rapid economic growth benefits only the wealthy
  3. Rapid economic growth often leads to crash
  4. Rapid economic growth can stifle the growth

ANSWER: 1.)Rapid economic growth can be difficult to regulate

 

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ANSWER IN DETAIL

Rapid economic growth automatically brings in improved standards of life and access to high-standard technology by the masses. Such lifestyle also brings in their disadvantages that can affect public health, environment and culture. Rapid generation of industrial wastes may be difficult to dispose safely.

Improvisation in lifestyle can add to air, water and noise pollution drastically for example, the condition of Delhi due to increase in a number of automobiles per individual.

Also inflation could be seen as a result of rapid economic growth that is often difficult to control.

 

Explanation For Why Other Answers Are Incorrect Options

2. Rapid economic growth benefits only the wealthy

This is incorrect as economic development benefits the whole population not just the wealthy.

3. Rapid economic growth often leads to crash

Inflation may come as a consequence but an economic crash is a highly improbable scenario after rapid economic growth.

4. Rapid economic growth can stifle the growth

Rapid economic growth improves living standards and lifestyle and also does not hold the cultural developments at stake so this option is incorrect.

 

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