Answer :

1. Government subsidy is the economic help provided by the government to certain consumers such as providing the good at a lower rate, reduced rate of interest on loans and lower rent of a house, as compared with the market rate.

2. The withdrawal of government subsidy lead the people into poverty in the following manner:

i. The people had to spend more on the purchase of goods and services.

ii. The farmers had to pay more to purchase agriculture equipment such as seeds, fertilizers, machines, etc.

1. I support the concept of privatisation due to the following reasons:

i. If a firm is owned privately, there is a greater profit incentive to increase efficiency.

ii. There is no interference by the government and the firm is not backed by any politics.

iii. there is an increase in share ownership.

iv. It leads to a positive increase in promoting a healthy form of competition.

v. It is a method to finance long term investments


1. The two founders' countries of NAM during the cold war period are India and Egypt.

2. The two methods to lift the people of the Least Developed Countries out of poverty are:

i. Providing cheap and effective technology to LDCs,

ii. The developed countries should assist the LDCs to develop a sound industrial base.

iii. The increase in education and employment opportunities in LDCs.

1. Sustainable development refers to developing an environment that can fulfill the needs of the present generation without comprising the needs of future generations.

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