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Lecture notes Unit 3 - The global economy £7.49
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  2.  
  3. PEARSON (PEARSON)
  4.  
  5. Economics B
  6.  
  7. Unit 3 - The global economy

Lecture notes

Lecture notes Unit 3 - The global economy

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These notes helped me get an A* in economics. The content contains most of the theme 3 notes written in a simplified bullet point form for you to easily understand and interporatate.

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Document information

  • June 15, 2023
  • 1
  • 2022/2023
  • Lecture notes
  • Paddington zinzombe
  • All classes

Subjects

  • economics
  • a level
  • edexel b
  • pearson
  • 314 trade policy and trade negotiations
  • 331 responding to global demand
  • 322 asessing the diffeence of potential economie
  • 332 demand side factors in global ma

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3.6.2 Reducing poverty

 Economic growth
o The Increase in the counties national output
o Caused by increases in the quality of factors of production
 Causes an outward shift in PPF
 Economic development
o refers to standard of living, freedom, and life expectancy
o Indicates the quality of life for citizens
 International improvement in welfare
o Africa is top recipient of Chinese aid
o Aid provides temporary assistance
o Used to reduce human capital inadequacies
o However, aid is limited by corrupt leaders
 Poverty reduction policies
o FDI promotion
 Flow of capital from one country to another
o Microfinance skills
 Borrowing small amounts of money for lenders to finance their enterprises
 Increase the incomes of those who borrow and can reduce their dependency in
primary products.
 Multiplier effect from investment on loan
 Detach poor from high interest
 However, might not work if there is dishonesty where the money is spent
o Development of human capital
 allows people to earn more
 Primary school education has increased
 However secondary and tertiary education enrolment is still low
o

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