Practice Dependency On External Markets (3.4) - Chapter 6: Regional Economic Development

Practice: Dependency on External Markets

Lesson 3.4Regional Economic Development

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9 questions

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6 sample questions

Question 1.
What does 'dependency on external markets' mean?
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Think about how local businesses might be affected by global trade.
Question 2.
Name one impact of global market fluctuations.
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Consider what could happen if a specific export’s demand drops.
3Question 3.
What is a potential risk of dependency on external markets?
- Reduce opportunities for local diversification
- Increase job security
- Enhance local investments
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Think about how relying on one market affects variety.
4Question 4.
True or False: Regions that diversify their economy are less likely to suffer from global market fluctuations.
- True
- False
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Reflect on what diversification means.
Question 5.
Evaluate a region that relies on a single resource for its economy. Discuss the potential risks and suggest a plan for diversification.
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Reflect on various industries the region could tap into.
Question 6.
Analyze how a global economic downturn could affect local employment rates and suggest strategies to mitigate risks.
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Think about how investment in skills could help.

5 more questions in this section. Enroll free to practise them all.