Methods of development (p156) Flashcards
Economic growth is being accompanied by activities that contribute to an improvement in the standard of living. Name the 6 methods.
1) Attract new business
2) Building community capacity
3) Expand local markets
4) Use outdated facilities
5) Promote direct investment
6) Natural resources
Define ‘attracting new business’
It generates employment
New business identifies local needs and satisfies local needs
Define ‘building community capacity’
Community develop skills to provide for their own basic needs, not relying on the government for everything
Define ‘expanding local markets’ and what the local government needs to do to expand it
The local government needs to:
1) identify local resources
2) market local products
3) run festivals
4) run campaigns
5) trade deals
6) trade agreements with other areas
7) upgrade transport
Define ‘using outdated facilities’
Especially in rural areas, there are facilities that are no longer effectively used. These facilities can :
- be used to promote local businesses
- be used to train local people
- changed to meet the needs of the
community
Define ‘promoting direct investment’
The government needs to upgrade infrastructure, so businesses can identify opportunities to invest in the area.
If done well, it will create job opportunities.
Define ‘natural resources’
The natural resources should be used to improve the standard of living of the local people. (for example: the amarula fruit. The fruit has been used to make juices, jams, etc.)