Reducing The Development Gap Flashcards
What ways can help reduce the development gap?
-investment
-aid
-fair trade
-using immediate technology
-micro finance loans
-industrial development
-debt relief
How can investment reduce the development gap?
-foreign direct investment is when companies buy property or invest in the infrastructure in another
-this helps improve infrastructure in countries and increase services
How can aid reduce the development gap?
-this is when money or resources are given to a country by charity or foreign government
-the money is used for development projects such as improving healthcare or education
-this can help but sometimes projects don’t work if there isn’t enough local knowledge or support
How can fair trade help reduce the development gap?
-this is when farmers in LICs get paid a fair price for the goods the produce allowing them to provide for their families
-a limitation is that sometimes only a tiny proportion of the extra money reaches the producers while the rest boosts the retailers’ profits
How does using intermediate technology reduce the development gap?
-this includes tools, machines and systems that improve quality of life but are simple to use, affordable and cheap to maintain e.g. solar powered light bulbs can be used so people can work and study after dark increasing skills and incomes
How do micro finance loans reduce the development gap?
-this is when small loans are given to people in LICs who may not be able to get loans from the bank so they can start their own business and become financially independent
-this works for some but it can cause problems by encouraging people to get into debt
How does industrial development reduce the development gap?
-In countries with low level development, agriculture makes up a large proportion of the economy
-developing industry helps boost GNI and development as productivity, skills and infrastructure are improved
How does debt relief help reduce the development gap?
This is when some or all of the country’s debt is cancelled or interest rates or lowered meaning the country has more to spend on development
Where is Jamaica ?
It is an Island on the West Indies
What evidence is there to show that Jamaica needs to increase its development?
-It has slow economic growth
-It has high debts
-High unemployment
How has tourism improved Jamaica’s development?
-Tourism contributes 24% to Jamaica’s
GDP
-Tourism provides jobs for 200,000 people
- it has led to the development of new ports which can increase trade
What evidence is there that tourism has not increased development in Jamaica?
Not all parts of the island have been improved which leaves some parts more isolated meaning people may be far from jobs etc.
• Not everyone in Jamaica has benefited from tourism, meaning they still live in poor housing with inadequate
