10. Factors that Promote or Hinder Development

Question 1

Factors that Promote Development

Answer 1

• Entrepreneurial drive and activity
• Political Ideology & Popular Movements
• Distribution of wealth and resources
• Changing Class Boundaries
• Government Policies
• Use of Technology
• Tourism

Question 2

how Entrepreneurial drive and activity Promote Development

Answer 2

Contribution to economy is of immense value.

 helps in the growth of national income and per capita income

 The stimulate the economy through; investments , employment, diverseness in products and services and international trade

Question 3

how Political Ideology & Popular Movements Promote Development

Answer 3

Capitalism - often attracts investors because there is
minimal intervention be government.
These individuals control the means of production and distribution.
The only thing governments do is to ensure the companies respect the rights of workers and their trade groups.

Question 4

how Distribution of wealth and resources Promote Development

Answer 4

investment and reinvestment of entrepreneurs across an entire nation will help to reduce unemployment and therefore persons would have disposable incomes through job opportunities.

Demands for goods and services could increase as there would be more money in circulation

Question 5

how Changing Class Boundaries Promote Development

Answer 5

Injection of funds into the education system allow persons to be exposed to education and breaks the cycle of poverty

Question 6

how Government Policies Promote Development

Answer 6

Government must provide an enabling environment for private sector to conduct businesses.

 intensives to support small businesses

 reduce taxes on goods imported to be used in the agriculture and manufacturing sector.

 higher taxes on goods that are imported and also produced/available locally

 Effective monitoring policies to control the supply of money, keep inflation low, ensure price stability and general trust/confidence in the currency

 disciplined fiscal policy by Adjusting spending levels to avoid large deficits.

When this is done, investors will feel confident they are operating in a stable economic environment.

Question 7

how Use of Technology Promote Development

Answer 7

1) transformed the world’s economy
2) transition from manual to electronic delivery services in the public and private sector, business community and throughout world.
3) Improves/enhances development in nation-states that can afford to do so
4) transformed business relations with the availability of the internet (E-commerce, e-banking, Skype/WhatsApp & Fax machines)
5) Transcends geography/distance using fibreoptics, for immediate connection between the Caribbean and the world.
6) Allows many transactions done easily & speedily
7) individuals work from home
8) companies outsource work
9) pay bills/purchase things online
10) E-marking, e-registration of students