Joseph Thomson 13.3 Economics 25 Marker
Plan
Intro - define economic development (different to growth) and summarise India’s current
situation.
Point Privatisation (MB) Liberalisation Protectionism Increased
of trade (MB) (GI) spending (GI)
Knowledg Increase efficiency of Removing Restrictions on Increased AD
e industry through legislation which imports to and thus growth;
market forces is a barrier to protect domestic accelerator
(incentive function). competition. industries. effect.
Evidence Businesses hard to India’s trade has ‘Indian ‘Informal
set up; ‘ranked 130th.’ increased ‘from government employment’ -
15% to 40%’ should adopt the limits money that
since reforms. Chinese can be spent.
model…’ ‘Poor health
facilities…’
Application Thatcher sold many China’s Trump’s trade China’s One Belt
industries. Worked sweatshops. war with China. Initiative.
well for BT.
Analysis Government revenue, Less Infant industries, Removes supply
increases productivity. bureaucracy help India move bottlenecks and
Less political enables into secondary enables greater
interference. efficiency and sector. efficiency.
choice. Multiplier
through TNC
spending.
Diagram Right-shift in LRAS. Tariff diagram. N/A.
Evaluation Public interest - some Lower quality of Retaliation and Policy myopia
industries too service and promotion of could lead to
important to be profit- treatment of inefficiency are quick fixes for
motivated. workers. bad. infrastructure.
Conclusion - cannot rely solely on market forces, especially in considering merit goods
(important to dev.)
Using the data in the extracts and your knowledge of economics, evaluate the view that
greater use of market-based strategies is the best way to improve the economic
development of India. (25 marks)
Plan
Intro - define economic development (different to growth) and summarise India’s current
situation.
Point Privatisation (MB) Liberalisation Protectionism Increased
of trade (MB) (GI) spending (GI)
Knowledg Increase efficiency of Removing Restrictions on Increased AD
e industry through legislation which imports to and thus growth;
market forces is a barrier to protect domestic accelerator
(incentive function). competition. industries. effect.
Evidence Businesses hard to India’s trade has ‘Indian ‘Informal
set up; ‘ranked 130th.’ increased ‘from government employment’ -
15% to 40%’ should adopt the limits money that
since reforms. Chinese can be spent.
model…’ ‘Poor health
facilities…’
Application Thatcher sold many China’s Trump’s trade China’s One Belt
industries. Worked sweatshops. war with China. Initiative.
well for BT.
Analysis Government revenue, Less Infant industries, Removes supply
increases productivity. bureaucracy help India move bottlenecks and
Less political enables into secondary enables greater
interference. efficiency and sector. efficiency.
choice. Multiplier
through TNC
spending.
Diagram Right-shift in LRAS. Tariff diagram. N/A.
Evaluation Public interest - some Lower quality of Retaliation and Policy myopia
industries too service and promotion of could lead to
important to be profit- treatment of inefficiency are quick fixes for
motivated. workers. bad. infrastructure.
Conclusion - cannot rely solely on market forces, especially in considering merit goods
(important to dev.)
Using the data in the extracts and your knowledge of economics, evaluate the view that
greater use of market-based strategies is the best way to improve the economic
development of India. (25 marks)
