Strategies to reduce the development gap: industry and investment
I can explain how industry and investment strategies reduce the global development gap.
Strategies to reduce the development gap: industry and investment
I can explain how industry and investment strategies reduce the global development gap.
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Lesson details
Key learning points
- Various strategies exist to reduce the development gap.
- The development of manufacturing industries can help to reduce the gap.
- The development of services industries, including tourism, can contribute to economic development.
- Foreign direct investment in infrastructure can promote economic growth.
- Microfinance loans allow people to set up small businesses and become self-sufficient.
Keywords
Development gap - the widening difference in standards of living and wellbeing between the world’s richest and poorest countries
Manufacturing industries - the secondary economic sector, involving making goods from raw materials or other manufactured products (for example motor vehicles)
Service industries - the tertiary economic sector, which includes tourism, banking, education and health
Microfinance loans - the provision of small-scale loans given to people in LICs to help them start a small business
Common misconception
The development of new jobs in industry occurs at a large scale, involving huge factories and investment by a transnational corporation.
Microfinance loans can also support the development of new jobs in industry, at a smaller scale.
To help you plan your year 11 geography lesson on: Strategies to reduce the development gap: industry and investment, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 11 geography lesson on: Strategies to reduce the development gap: industry and investment, download all teaching resources for free and adapt to suit your pupils' needs.
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