Question : Case Study 18: Impact on Local Economy
A group of entrepreneurs established a tourist resort in a remote village. Their venture not only provided job opportunities to the local community but also attracted tourists, boosting the local economy. Question:
The entrepreneurs' venture contributes to economic development through:
Option 1: Increasing unemployment in the region
Option 2: Reducing access to local resources
Option 3: Promoting foreign investment
Option 4: Attracting tourists and boosting local businesses
Correct Answer: Attracting tourists and boosting local businesses
Solution : The correct answer is (d) Attracting tourists and boosting local businesses
The establishment of a tourist resort by the entrepreneurs attracts tourists and boosts local businesses, leading to increased economic activity in the region. This can result in job creation, increased revenue for local businesses, and overall economic development in the community.
A group of entrepreneurs established a tourist resort in a remote village. Their venture not only provided job opportunities to the local community but also attracted tourists, boosting the local economy.
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