How does economic growth generally benefit individuals?

• A. By limiting the availability of goods and services
• B. By providing more job opportunities and better living standards
• C. By increasing taxes for all citizens
• D. By preventing new businesses from emerging

Answer: (B)

Economic growth is fundamentally associated with the expansion of a nation's economy, leading to increased production of goods and services. This expansion typically translates into more job opportunities as businesses grow and require additional labor to meet rising demand. When individuals gain employment, they secure income, which allows them to improve their standard of living.

When the economy grows, businesses are more likely to invest in new projects, research, and development, leading to innovation and the creation of new products and services. This not only creates more jobs but often results in better-paying positions, as companies can afford to pay more when they are thriving. As jobs increase and income rises, individuals can also access improved services, education, and healthcare—further enhancing their quality of life.

This positive feedback loop of job creation and rising living standards illustrates how economic growth has a direct beneficial impact on individuals.