4.3.3 - Strategies influencing growth and development (Interventionist)

Question 1

Name interventionist for influencing growth and development

Answer 1

. development of human capital
. protectionism
. managed exchange rates
. infrastructure development
. promoting join venture with global companies
. buffer stock schemes

Question 2

Explain infrastructure development

Answer 2

. Developing infrastructure such as ports allows you to import and export efficiently. If there is higher exports than imports, it leads to higher GDP

. School allows you to be educated and trained, which increased your human capital. This means higher productivity, efficiency, employment opportunities, higher wages, etc.

. Transport infrastructure reduces structural unemployment

Question 3

Development of human capital

Answer 3

. Human capital increased with training and education

. Leads to higher productivity, efficiency, employment opportunities, higher wages, etc

. It also leads to more innovation, which means the start of new businesses which can reduce unemployment

Question 4

Protectionism