Economic objectives

what are economic objectives

Goals of economic policy

Common economic objectives

Growth, stability, equity and sustainability

Define economic growth

Increase in national output

Explain price stability

Avoiding excessive price fluctuations

What is full employment

Maximised employment without inflation

Define income equality

Fair distribution of income

Explain balance of payments

Balance between imports and exports

What is environmental sustainability

Meeting current needs without depletion

Define efficient resources allocation

Allocating resources optimally

Explain income redistribution

Shifting income to the less affluent