IGCSE Development Studies: Specimen Questions with Answers 84 - 85 of 98

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Question 84

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What do you understand by External debt?

Explanation

External debt or external loan is the total amount which the residents of one country owe to the other the country. In other words, it is the outstanding amount of the principal amount along with the interest by the debtor to the creditor.

  • It is the borrowing from foreign lenders through government, commercial banks, or financial institution. IMF keeps a record of a country՚s debt whereas, World Bank publishes the quarterly report on debt of a country.
  • In case of nonpayment of debts, a country faces financial crisis known as sovereign debts, Lenders of fund can withhold the assets of the borrowing nation in such cases leading to a fall in the value of the currency of the borrowing nation having an adverse effect on the growth of the economy.

Passage

Employment Structure

Question 85 (1 of 7 Based on Passage)

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Name the types of primary employment.

Explanation

Primary sector includes those activities that are undertaken by directly using natural resources e. g. , the cultivation of wheat. As all the subsequent products are formed by using the products of the primary sector as base it is known as primary sector. The primary sector is also referred to as agriculture and related sector.

Primary Sector Includes Occupation Like

  • Extraction of raw materials
  • Farming
  • Fishing
  • Mining
  • Energy extraction

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