Historical Context of Sustainability: Gas Resources in Ukraine - Coursework Example

Download file to see previous pages Mechanisms used to exploit and transport the resource will also be highlighted, and the paper will also look at the economic and social benefits and disadvantages conferred upon the people of Ukraine. Moreover, the paper will provide a detailed analysis showing other countries that exploit gas and how some various aspects of the industry differ. Additionally, recommendations on how to improve the sector will be suggested. The recommendations revolve around the provision of better services and improving the sector to be able to handle larger capacities and external demand from foreign markets. For them to be implemented, large private investments must be directed towards the industries that deal in gas.
2. Economic growth and development- economic growth is characterized by the rapid expansion and increase in the output of a country. The main indicator of growth is size. The larger the size, the more the growth of a given sector in the economy. However, economic development refers to the qualitative aspects of growth. It represents a general improvement in the economy.
3. Foreign markets- markets found outside the borders of a country where goods and services from other countries are freely traded. The foreign markets arise as a result of specialization among various countries. Therefore, countries wish to trade to obtain commodities that they possess a lower comparative advantage compared to other nations with absolute advantage.
Resources all over the world are not evenly distributed. Some counties are richer than others in terms of resource allocation. Other countries are poor as they are poorly endowed with resources. The resources are economic drivers and have a great impact on the growth and development of the various countries. ...Download file to see next pagesRead More