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Examine how two of the following factors influence the level of economic development in any developing economy that you have studied: - Physical factors - Social factors - Cultural factors - Leaving Cert Geography - Question B - 2015

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Examine how two of the following factors influence the level of economic development in any developing economy that you have studied: - Physical factors - Social fa... show full transcript

Worked Solution & Example Answer:Examine how two of the following factors influence the level of economic development in any developing economy that you have studied: - Physical factors - Social factors - Cultural factors - Leaving Cert Geography - Question B - 2015

Step 1

Developing economy named

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Answer

For this examination, I will refer to Kenya as the developing economy being discussed.

Step 2

Factor 1 examined: Physical factors

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Answer

Physical factors, such as the geography and natural resources of a country, significantly affect its economic development. In the case of Kenya, the presence of fertile land and climate suitable for agriculture has made farming a central part of its economy. Access to natural resources like freshwater and minerals can also facilitate industrialization and trade, thereby boosting economic growth. However, challenges like droughts or climate change can reverse these benefits, highlighting the fragility of reliance on physical factors.

Step 3

Factor 2 examined: Political factors

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Answer

Political stability is crucial for economic development in Kenya. A stable political environment encourages investment, both local and international, as businesses feel more secure in their operations. Conversely, political instability, such as corruption or civil unrest, can deter investment and hinder economic progress. Policies promoting transparency and good governance can lead to improved economic conditions by fostering a conducive environment for businesses and attracting foreign investment.

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