SECTION X- TECHNOLOGY AND THE GLOBAL BUSINESS ENVIRONMENT

Question 1

What are the characteristics of Caribbean Economies

Answer 1

1. Mixed Economies
2. Small Size
3. Limited Industrialization

Question 2

What are the economy problems of Caribbean countries

Answer 2

High Unemployment levels

High Dependency on Tourism

High Debt

Unequal Distribution of Resources

Inflation or Rapidly Rising Prices

Question 3

What are the solutions to economic problems

Answer 3

1. Encourage greater direct foreign investment by encouraging non-nationals to invest money in machinery and businesses.
2. Develop the human resource base of the Caribbean
3. Invest more in the manufacturing sector thereby diversifying the economy making it less
   dependent on tourism and agriculture