There has been a decline in financial aid donated by Irish citizens to organisations which assist citizens in Less Developed Countries (LDCs) - Leaving Cert Economics - Question 5 - 2013
Question 5
There has been a decline in financial aid donated by Irish citizens to organisations which assist citizens in Less Developed Countries (LDCs). State one possible rea... show full transcript
Worked Solution & Example Answer:There has been a decline in financial aid donated by Irish citizens to organisations which assist citizens in Less Developed Countries (LDCs) - Leaving Cert Economics - Question 5 - 2013
Step 1
Reason:
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Answer
One possible reason for the decline in financial aid is Increased unemployment. People have lost their jobs and are therefore less able to donate aid.
Step 2
Economic effect:
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Answer
One possible economic effect for the citizens of LDCs is Reduced standard of living. With less financial aid flowing into the economy, the average standard of living will fall, resulting in a deterioration of living conditions.
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