{ Economic

goals
Albert “Sam” Llaguno, LPT
Subject Teacher
Economic Growth
  refers to general increase in real output.
 Every country utilizes its scarce resource
effectively and efficiently to produce maximum
goods and services in order to fulfill the needs
of its masses.
 It is the upmost priority of every country to
produce goods and services of such nature
which meets the standards of quality.

Economic Growth
Full Employment
  refers to the situation when there is no
voluntary unemployment in the country.
 There is always a certain level
of unemployment in the country due to
economic instabilities and imperfections.
 Such level of unemployment is called the
natural rate of unemployment. But the
government tries its best to reduce the level of
unemployment in a country as much as it can.
 It is one of the most important responsibilities
of the government of a country to create job
opportunities for its people.

Full Employment
Price Level Stability
  Inflation means a general increase in price
level. Increase in price level results in an
unequal and unfavorable distribution of wealth
in an economy.
 Due to inflation the growth rate also decreases.
It reduces purchasing power and it also causes
a deficit in the balance of payment which
effects the international repute of the country.
 Therefore, the government of a country takes a
serious and effective step to overcome inflation
and to keep the prices of commodities stable.

Price Level Stability

Economic Efficiency
  Economic efficiency is the best utilization and
allocation of available resources.
 An economy is economically efficient when there
is maximum benefits are available for the people.
 Economic efficiency is achieved when available
resources are used wisely in such a way
maximum goods and services are being
produced.
 An economically efficient country is more
favorable internationally. Other countries rely on
such country’s quality productions and services.

Economic Efficiency
Economic Freedom
  Economic freedom is a freedom for people to
make choice and decisions without any kind of
external pressures.
 People are free to buy, sell and own. People are
free to own property and make profits from
them.
 People have the freedom to do business and
expand or contract it. Economics freedom is
provided to people to promote economic
activities in an economy to make economic
condition better day by day.

Economic Freedom
Equitable Distribution of
Income
  Economic equity is one of the economic goals of a
country to treat everyone equally and fairly and do
justice. It is the duty of government to keep balance
and equity among different classes of society.
 The government should form and establish such
economic policies which help them in minimizing
the class discrimination in the society. The country
with less discrimination flourishes with better
speed.
 In order to achieve the goal of economic equity there
should be fair and just distribution of income. The
wealth should be accumulated or concentrated in
certain hands. Every sector of an economy must be
audited on regular basis so that cash flows could be
regulated. Economic equity is very integral part
because it helps the business chains to keep
functioning smoothly.

Equitable Distribution of
Income
Economic Security
  Economic security refers to a feeling of freedom
and safety.
 The people of a country feel themselves safe no
matter wherever they are in their homeland. It
is the responsibility of the government of a
country to provide security of life and
belongings of their people.
 That is why government establishes defense
including police for the protection and security
of the natives.

Economic Security
Balance of Trade
  The balance of trade is the difference between
the value of a country's imports and exports for
a given period. The balance of trade is the
largest component of a country's balance of
payments.

Balance of Trade
  Retrieved from
https://econtutorials.com/blog/basic-economic-
goals-of-a-country/

 Retrieved from
https://www.investopedia.com/terms/b/bot.asp

References
Questions?
  Among the eight economic goals, which of
these that is needed by our country?

Activity