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Examine the mobility of modern economic activity with reference to example(s) that you have studied. - Leaving Cert Geography - Question 88 - 2019
Question 88
Examine the mobility of modern economic activity with reference to example(s) that you have studied.
Worked Solution & Example Answer:Examine the mobility of modern economic activity with reference to example(s) that you have studied. - Leaving Cert Geography - Question 88 - 2019
Step 1
Examine the mobility of modern economic activity
Answer
Modern economic activity exhibits varying degrees of mobility, influenced by factors such as technology, globalization, and labor dynamics. Mobility can be discussed in terms of both physical and virtual movement of resources, including labor and capital.
Technological advancements have greatly enhanced the mobility of economic activity. For instance, the rise of the internet and digital platforms has enabled businesses to operate globally without geographical constraints. Companies like Amazon or Alibaba can reach consumers worldwide, illustrating how digital platforms break down traditional barriers of trade.
Globalization further intensifies this mobility, as international trade agreements and multinational corporations facilitate the movement of goods and services. For example, factories may shift production to countries with lower labor costs, demonstrating how capital is increasingly mobile in the modern economy.
However, while capital and goods may be highly mobile, labor mobility tends to lag due to various socio-economic factors, including visa restrictions, economic disparities, and cultural differences.
In summary, modern economic activity is characterized by heightened mobility driven by technology and globalization, though challenges surrounding labor mobility still exist.
Step 2
Example of modern economic activity
Answer
One example of modern economic activity is the growth of remote work enabled by digital communication technologies. This phenomenon has allowed individuals to work from various locations, contributing to a more flexible work environment and a shift in traditional economic structures. Companies no longer need to maintain offices in every location where they operate, leading to cost reductions and an expansion of the labor pool.
Another example is the global supply chain, particularly in the technology sector. Companies like Apple source components from multiple countries, assembling products in different regions. This distribution of economic activity highlights the mobility of production processes and the interdependence of countries in the global economy.