1) sustainable development and economic development

Question 1

What does ‘structure of the economy’ mean??

Answer 1

The balance between the primary, secondary and tertiary within the economy.

Question 2

What is sustainable development??

Answer 2

Development that meets the needs the present without compromising the ability of future generations to meet their own needs

Question 3

What’re the 4 objectives of the Uk government regarding sustainable development??

Answer 3

• Social progress
• Effective protection of the environment
• prudent use of natural resources
• Maintenance of stable and high levels of economic growth and employment

Question 4

What does social progress objective cover??

Answer 4

Making sure everyone shares the benefits of sustainable development, and it is not achieved at the expense of someone else welfare

Question 5

What does effective protection of the environment objective cover??

Answer 5

Looking after the environment whilst development is achieved; not burning down amazon rainforests and developing renewable energy resources

Question 6

What does Prudent use of natural resources mean??

Answer 6

Non renewable resources are used effectively and safe alternatives are developed.

Question 7

Main impact of growth on sustainable development

Answer 7

Increased carbon footprint: the amount of CO2 released into the air as a result of a firm or individuals actions

Question 8

What are forward looking countries doing to improve sustainable development??

Answer 8

Embed economic growth into sustainable development by:

• Offering incentives for producers and consumers to change their behaviour
• Innovative ways of reducing ecological impact of production

Question 9

what is the easterlin paradox??

Answer 9

a theory suggesting societies economic development and its average levels happiness are not interlinked.

Question 10

What is economic Development?

Answer 10

-the process that seeks to improve the economic well being and quality of life for a country

Question 11

What is a good indicator of economic development and why is it limited?

Answer 11

per capita income has a good correlation with economic development but isn’t perfect because other factors go into it ie infrastructural development

Question 12

Why else is GDP per capita difficult to use to measure development?

Answer 12

• defective statistics due to lack of proper income and spending data collection, excluded shadow economy and value of unpaid work
• inequalities of income differing across the country
• environmental consideration