IPE WEEK 10 Flashcards
How are natural resources classified?
Natural resources are classified into renewable and nonrenewable categories.
What is a natural resource and how can its value vary?
A natural resource is something of value found in the natural environment. Its value can vary depending on human needs.
How have natural resources impacted economic development throughout history?
Natural resources have been essential for economic development, considered a blessing until studies identified a curse of resource abundance.
What are some alternative energy sources besides fossil fuels?
Alternative energy sources include nuclear, hydropower, wind, solar, geothermal, and biomass.
What is energy and why is it important?
Energy is defined as the ability to do work. It drives economies, sustains societies, and powers various technologies.
Why do some countries have more fossil fuel sources than others?
Access to fossil fuel reserves is a coincidence of geological history and international boundaries, leading to disparities in availability.
How rich is Africa in mineral resources?
Africa has about 30% of global mineral reserves, 8% of the world’s oil reserves, and 7% of natural gas reserves.
What is the resource curse?
he resource curse is the paradox where countries with abundant natural resources tend to have less economic growth, less democracy, and worse development outcomes.
What are some economic and political factors causing the resource curse?
Economic factors include Dutch disease and commodity price volatility. Political factors include rent-seeking, corruption, and weak institutions.
What are some symptoms of the resource curse?
Symptoms include slower economic growth, higher levels of conflict and repression, and increased corruption and institutional weakness.
What solutions are typically offered to combat the resource curse?
Solutions include savings funds, long-term planning, economic diversification, and governance improvements like transparency and accountability.
How do governments manage natural resources effectively?
Effective management involves generating and capturing rents from extractive industries and investing resource wealth sustainably.
What does it mean to have energy security?
Energy security means having access to reliable and affordable energy sources, and ensuring uninterrupted availability at affordable prices.
What is the concept of a Just Transition?
A Just Transition ensures that the shift to a sustainable, net-zero future is fair and inclusive, creating decent work opportunities and leaving no one behind.
What are the Five Lessons that Connoly says we can learn from SA’s JT?
- Create a centralized body to manage the transition process. (PCC)
- Include stakeholders early and often (trade unions etc)
- Promote transparency and accessibility.
- Align policies with climate goals.
- Build political coalitions and social impact around the just transition.
