Strategies to reduce the development gap: industry and investment
Lesson details
Learning outcome
I can explain how industry and investment strategies reduce the global development gap.
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.
Teacher tip
There are further opportunities to explore the strategies of industrial development and investment: in this unit; and within the case study of a newly emerging economy.
Licence
Lesson video
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Prior knowledge starter quiz
6 Questions
Q1.What does 'development' mean in geography?
Q2.Which of the following is a common measure of development?
Q3.What does HDI stand for?
Q4.Which of the following best describes an LIC?
Q5.What is the development gap?
Q6.Which of these is a physical factor that affects development?
Assessment exit quiz
4 Questions
Q1.What sector are manufacturing industries part of?
Q2.What is the purpose of microfinance loans?
Q3.How can investment reduce the development gap?
Q4.Which of the following is a true statement about job creation in industry in LICs and NEEs?
To help you plan your 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 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.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
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The assessment exit quiz will test your pupils' understanding of the key learning points.
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Explore more key stage 4 geography lessons from the Global variations in economic development unit, dive into the full secondary geography curriculum, or learn more about lesson planning.