During the first half of 2022, Guyana's GDP increased by 36.4%. Much of this expansion came from stronger output in the primary sector. The government used some of the tax revenue created by this growth to finance long-term development projects such as infrastructure and education. However, in the short run, house prices rose.
(a)[2]
Identify two examples of industries in the primary sector.
(b)[4]
Explain two reasons for an increase in GDP.
(c)[6]
Analyse why house prices might rise.
(d)[8]
Discuss whether increased government spending on education will lead to economic development.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “agriculture / farming” …