Demand-led growth
Hey kiddo, have you ever heard of demand-led growth? No? Well, it's basically when people want to buy things and businesses make more of those things to sell. You see, when people have money to spend, they usually buy things they want or need – like toys, clothes, food or even a house! And when people buy these things, businesses that make them have to make more of them so they can keep up with demand.
So, when businesses make more things, they need more workers to help them. This means more people get jobs and have money to spend, which creates even more demand for things. It's like a big circle – people buy things, businesses make more things, more people get jobs, and it keeps going round and round.
Demand-led growth is important because it shows that when consumers have the power to buy things, it helps the economy grow. If people don't have money to spend, businesses won't make as much stuff, and the economy will slow down. So, it's good when people have money to buy things they want or need – and that helps the economy grow.
So, when businesses make more things, they need more workers to help them. This means more people get jobs and have money to spend, which creates even more demand for things. It's like a big circle – people buy things, businesses make more things, more people get jobs, and it keeps going round and round.
Demand-led growth is important because it shows that when consumers have the power to buy things, it helps the economy grow. If people don't have money to spend, businesses won't make as much stuff, and the economy will slow down. So, it's good when people have money to buy things they want or need – and that helps the economy grow.