![]() ![]() Even as electricity use rose 70%, total US emissions of. Between 19 the Gross Domestic Product (GDP) grew 56% and the consumption of electricity rose 70%, indicating a close linkage between economic growth and the use of electrotechnologies. These three sectors consume 99.9% of all electricity. Over 95% of the US economy is generated by industrial, commercial and residential activities. These two measures, which are calculated slightly differently, total the amounts paid for the goods and services that a country produced. It is conventionally measured as a percentage change in the Gross Domestic Product (GDP) or Gross National Product (GNP). Economic growth is the increase in the amount of the goods and services produced by an economy over time. Globalization creates opportunities for many countries to experience economic growth. It can also lead to challenges with the welfare of workers, economies, and the environment as businesses globalize and shift their operations between countries to take advantage of lower costs of doing business in other world regions. It can provide tremendous opportunity for economic growth to improve the quality of life for many people. ![]() Globalization offers both benefits and challenges. Globalization is a term used to describe how countries, people and businesses around the world are becoming more interconnected, as forces like technology, transportation, media, and global finance make it easier for goods, services, ideas and people to cross traditional borders and boundaries. ![]()
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