Many economists have suggested that the 21st century may turn into the ‘African century’ because the working-age population there is expanding. Projections indicate that by 2030, Africa’s share of the rise in the global labour force will be larger than that of the rest of the world. This will influence incomes, saving, and economic policies in African countries.
(a)[2]
Define the term labour.
(b)[4]
Explain any two motives for saving.
(c)[6]
Analyse the reasons why countries have different population growth rates.
(d)[8]
Discuss whether a rise in the working-age population, as a share of the total population, will be beneficial to a country.
Worked solution & mark scheme
This 20-mark question has a full step-by-step worked solution and mark scheme. One marking point: “Human factor in production” …