Photo AI
One of the economic aims of the government is 'Balanced Regional Development' - Leaving Cert Economics - Question b - 2008
Question b
One of the economic aims of the government is 'Balanced Regional Development'. (i) Explain the meaning of the underlined term. (ii) Outline two policies which the ... show full transcript
Worked Solution & Example Answer:One of the economic aims of the government is 'Balanced Regional Development' - Leaving Cert Economics - Question b - 2008
Step 1
Explain the meaning of the underlined term.
Answer
Balanced Regional Development refers to an economic strategy aimed at promoting equal growth and development across different regions of a country. The aim is to reduce the disparities between developed and underdeveloped areas, ensuring that all regions have access to resources, infrastructure, and opportunities. This approach not only seeks economic equity but also enhances social cohesion and stability.
Step 2
Outline two policies which the government could implement to promote regional development.
Answer
-
Decentralisation of State Bodies: This policy involves the establishment of various government departments in economically disadvantaged regions. By decentralising, the government can effectively promote local decision-making and stimulate economic activity through the multiplier effect.
-
Investment in Infrastructure: The government can enhance investments in essential infrastructures, such as transportation and communication networks. Improved infrastructure facilitates business operations, attracts investments, and enhances the quality of life for residents, thereby promoting regional development.
Step 3
'Balanced Regional Policy has an opportunity cost'. Explain this statement, using an example to support your answer.
Answer
The statement means that the resources allocated towards Balanced Regional Policy could have been used for other potential investments. For example, if the government decides to invest heavily in developing infrastructure in the North West of the country to boost regional development, it may have to divert funds from other essential services like education or healthcare. This trade-off illustrates the opportunity cost, as the benefits of improving facilities in one area come at the expense of potential advancements in another critical sector.