4.8 Data Response: Case study (6) Latin America urged to speed infrastructure plans

1. Explain what is meant by the term infrastructure. Infrastructure is the large-scale public systems, services, and facilities of a country that are necessary for economic activity. 2. Distinguish between public and private sector infrastructure. Public sector infrastructure refers to the facilities any systems served by the state, regional, local, and municipal governments. Private sector… [Read more…]

Data Response 4.7: Uganda

Question 1. Distinguish between ‘internal’ and ‘external’ debt. An internal debt is owed by a nation to its own citizens, and an external debt is owed by a nation of foreigners.  Internal debt poses less burden because we owe it all to ourselves whereas nations can experience serve economic hardships after they incur large external debts like in 1980s. Question 2. Using… [Read more…]

Data Response 4.6:

Question 1. Distinguish between foreign aid and foreign direct investment Foreign Direct Investment, or FDI, is a type of investment that involves the injection of foreign funds into an enterprise that operates in a different country of origin from the investor. Whereas FDI is for countries to gain profits or to benefit by entering the foreign… [Read more…]

4.5 Data Response: Upwardly mobile Africa

Question 1. Explain how improving infrastructure, like establishing mobile phone networks, can help to improve the rate of economic growth.   As the article mentions, “while many people in developed countries use their phones to stave off boredom on public transport, in sub-Saharan Africa a mobile phone can be a passport out of poverty,” because mobil… [Read more…]

Data Response 4.4 The role of international trade

Question 1) Explain what is meant by a free trade area, such as EFTA?   A free trade area or FTA is a group of countries that promotes free trade by removing protections such as tariff barriers on trading goods and services between the members. However, the countries can decide on their own tariff policies towards… [Read more…]

Data Response 4.3 Empowering Maasai Women in Tanzania

Question 1. The article considers how Maasai women in Kenya are becoming more empowered. Explain what is meant by the term empowerment. Empowerment refers to increasing the spiritual, political, social, racial, educational, gender or economic strength of individuals and communities. According to the article, the role of PWC is to support and encourage the empowerment of Massai… [Read more…]

4.2 Measuring Economic Development: Data response (2) The Secrets of Cuban Medicine

Question 1. Identify the indicators of development the article identifies as priorities for the Cuban government. The article suggests that the Cuban government prioritizes the development of health-care system. “Exactly half of all the currency earned in our country goes toward the health-care system, and it is our policy to spare no expense for that… [Read more…]

6 Questions

Question 1 Explain the importance of human capital in contributing to economic development. Human capital is the stock of competencies, knowledge and personality attributes embodied in the ability to perform labor so as to produce economic value. Human capital is vitally important for an organization’s success (Crook et al., 2011); human capital increases through education… [Read more…]

International Economics Review

INTERNATIONAL ECONOMICS DEFINITIONS Free trade is international trade free from any restrictions like tariffs, quotas or other protections. Exchange rate is the price of one currency in terms of another currency. Fixed- the value of the currency against other currencies remains the same. It’s maintained by gv by intervening in the foreign exchange market using… [Read more…]

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