Econmic Growth And Sustainable Development

Question 1

Economic Growth

Answer 1

Economic Growth is when the amount of goods and services produced in the economy increases from one year to the next

Question 2

Positive effects of Economic Growth on Society

Answer 2

Employment

Improved Standard of Living

Increase Government Revenue

Decreased Government Expenditure

Improved Infrastructure

Question 3

Employment

Answer 3

a greater demand for goods and services will lead to increased employment

Question 4

Improved Standard of Living

Answer 4

People will have more money to spend

Question 5

Increase Government Revenue

Answer 5

This is due to increased employment meaning more Income Tax collected

Question 6

Decreased Government Expenditure

Answer 6

this is due to increased employment meaning less people needing social welfare

Question 7

Improved Infrastructure

Answer 7

countries with high economic growth spend more money improving telecommunications, transport.

Question 8

Negative effects of Economic Growth on Society

Answer 8

Inequalities

Inflation

Increased Life Span

Question 9

Inequalities

Answer 9

even with economic growth, many of the gains from growth may be only for a few people and vulnerable people stay vulnerable

Question 10

Inflation

Answer 10

Increased demand for goods and services can cause inflation (rise in prices)

Question 11

Increased Life Span

Answer 11

An increase in standard of living leads to longer life expectancy. The ageing population means more spending on healthcare

Question 12

Positive effects of Economic Growth on Environment

Answer 12

Investment in Environmentally Friendly Technologies

Time & Funding

Question 13

Investment in Environmentally Friendly Technologies

Answer 13

if companies are making more money they may choose to invest in environmentally friendly business practices to be more attractive to consumers e.g. low carbon

Question 14

Time & Funding

Answer 14

when economies are doing well governments have time and funding to address environmental concerns e.g. climate change

Question 15

Negative effects of Economic Growth on Environment

Answer 15

Non Renewable Resources

Traffic Congestion

Increased waste

Destruction of nature:

Question 16

Non Renewable Resources

Answer 16

Increased demand for goods (import/export) requires planes and ships that burn fossil fuels. These are in limited supply.

Question 17

Traffic Congestion

Answer 17

the increase in demand for goods requires delivery which causes traffic congestion and pollution e.g. carbon emissions.

Question 18

Increased waste:

Answer 18

increase consumption of goods and services results in more waste which will require landfill.

Question 19

Destruction of nature

Answer 19

Greenspace and natural habitats are eroded from the building of new factories

Question 20

Sustainable Development

Answer 20

Sustainable Development means meeting the needs of the present without compromising the needs of future generations.

Question 21

How can business support sustainable economic growth

Answer 21

Use sustainable raw materials (i.e. good working conditions for employees and minimal impact to environment)

Replant raw materials e.g. trees

Recycle waste products

Increase the use of environmentally friendly products

Decrease pollution

Use renewable energies e.g. solar and wind

Use recyclable packaging for consumers

Minimize transport by locating close to consumers/materials

Question 22

Corporate Social Responsibility Policy

Answer 22

this sets out how the organisation will act to benefit society and the environment.

Question 23

Benefits of Corporate Social Responsibility

Answer 23

Improved Business Reputation in the eyes of consumers

Increased Sales from consumers who are environmentally conscious

Recruitment: Top quality staff with like minded aims will want to work there

Question 24

Role of Government in reducing Negative impact of businesses on society

Answer 24

Introduce Laws

Refuse Planning permission

Plastic Bag Levy

Question 25

Introduce Laws:

Answer 25

Safety, Health and Welfare at Work Act ensure that workers are protected against unsafe practices

Question 26

Refuse Planning permission:

Answer 26

the government will refuse planning permission if a business wish to build a factory that would harm the environment or health of local people.

Question 27

Plastic Bag Levy

Answer 27

introduce a charge to discourage the use of products that damage the environment e.g. 2002 plastic bag levy. (usage dropped from 328 bags pp to 21 bags pp)

Question 28

Government agencies that protect environment

Answer 28

Environmental Protection Agency - enforces environmental law for businesses to adhere to

Sustainable Energy Authority of Ireland (SEAI) - promote sustainable energy by developing renewable resources e.g. solar and wind