Standard Of Living 2

Question 1

What is sustainable development?

Answer 1

Development that meets the needs of the present without compromising the ability of the future generations to meet their own needs

Question 2

How does economic development risk the environment?

Answer 2

• deforestation
• fresh water polluted
• huge CO2 footprint

Question 3

How do we use our resources in a productive manner?

Answer 3

• all businesses commit to using resources in a productive and responsible manner
• no business should only take and not give back to the environment
• focus should be on using renewable materials
• businesses should strive to lower their impact on the environment

Question 4

What is the responsible use of resources that will contribute to the environment?

Answer 4

• responsible and productive use of resources - making more products with fewer resources
• GDP
• produce more goods and services - we will achieve economic growth and more needs will be satisfied - higher standard of living

Question 5

What is the economic principle?

Answer 5

Making more products with fewer resources

Question 6

What is GDP?

Answer 6

Gross Domestic Product

Total value of finshed goods and services within SA in a year

Question 7

What three areas does a business need to achieve growth and development?

Answer 7

• economic sustainability - businesses ability to use resources over long term in responsible manner while getting profit
• social sustainability- impact of the business on the community; important business has a long-term relationship with community
• environmental sustainability- refers to responsibility of business to reduce negative impact on the environment

Question 8

Unemployment refers to…

Answer 8

• someone who is willing to work
• someone capable of doing the job
• can not find a job

Question 9

What effects does unemployment have on you as a person?

Answer 9

• mental problems
• physical health problems
• political issues
• taxes (increase)
• crime (increase)
• standard of living decreases

Question 10

How does unemployment have an effect on your mental health?

Answer 10

Causes lack of self-esteem and can lead to depression

Question 11

How does unemployment have an effect on your physical health?

Answer 11

Unemployment leads to stress - impact on your health

Question 12

How does unemployment have an effect on your political issues?

Answer 12

• Influence governments ability to attract investors

* also leads to strikes

Question 13

How does unemployment have an effect on your increase of taxes?

Answer 13

Creates frustration among people who are paying taxes

Question 14

How does unemployment have an effect on your increase of crime?

Answer 14

• lead higher levels of crime

* people take crime in order to survive

Question 15

How does unemployment have an effect on your standard of living?

Answer 15

Cannot satisfy your wants and needs

Question 16

What is productivity? (3)

Answer 16

• relationship between inputs and outputs
• if increase output while keeping input same we will improve productivity
• improving productivity is not about working harder it’s about working smarter

Question 17

What are the advantages of improving productivity and give a brief explanation of each (8)

Answer 17

• Business- higher productivity means more outputs for less inputs = greater profit
• consumers- higher productivity lower prices for goods and services
• government- more profits for business means more tax income
• workers- if productivity increases earn higher wages and increase standard of living

Question 18

How can we improve productivity?

Answer 18

• workers trained
• literacy levels in SA improved
• reduces government spending and corruption (cough cough Jacob ) - tax money can be used to create infrastructure to improve productivity and standard of living