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Economic development continues to be a key economic aim for the governments of LDCs - Leaving Cert Economics - Question c - 2016
Question c
Economic development continues to be a key economic aim for the governments of LDCs. (i) Explain the underlined term. (ii) Outline two economic difficulties which ... show full transcript
Worked Solution & Example Answer:Economic development continues to be a key economic aim for the governments of LDCs - Leaving Cert Economics - Question c - 2016
Step 1
Explain the underlined term.
Answer
Economic development refers to an increase in the level of income, standard of living, output, or Gross National Product (GNP) per person. It is often accompanied by a transformation in the structure of the economy, aiming for improvement in the quality of life for the population through better access to resources, education, and healthcare.
Step 2
Outline two economic difficulties which citizens of LDCs experience.
Answer
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High population growth rates in LDCs: This leads to increased demand for resources and services, making it challenging for governments to provide adequate support.
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Poor infrastructure in LDCs: Insufficient infrastructure results in limited access to essential services and hinders economic activities.
Step 3
Suggest two possible solutions to the economic difficulties identified.
Answer
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Re-structure their national debts or cancel their debt: By negotiating with creditors, LDCs can work towards reducing their debt burden, allowing more resources to be invested in domestic development.
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Provision of clean water supplies and sanitation facilities: Improving basic services not only enhances the quality of life but also boosts productivity by ensuring a healthier population.