Broader impact on economy

Broader impacts on the economy refer to the wider effects that businesses, policies, or innovations have beyond their immediate targets. These impacts can include job creation, technological progress, and improved quality of life, which collectively stimulate economic growth. Conversely, negative effects like environmental damage or inequality can hinder economic stability. Understanding these impacts helps us evaluate long-term benefits or risks associated with decisions, ensuring that economic development is sustainable and beneficial for society as a whole.