The transition to a low-carbon economy has prompted significant investment in renewable infrastructure across South Wales. This structural shift requires a substantial reallocation of natural resources and high-tech capital. However, local policy makers argue that the critical missing ingredient is not public funding, but enterprise (Extract D, line 5). Without dynamic individuals willing to take risks and coordinate these resources to establish new green ventures, the regional economy will struggle to modernise.
While regional development grants have attempted to de-risk these investments, structural unemployment persists. To prevent long-term decline, local strategies must foster a culture that encourages risk-taking and business creation to unlock the region's full economic potential.
Define the term 'enterprise' (Extract D, line 5).
123 exam-style questions on AQA A Level Economics 1.1 Economic methodology and the economic problem, covering 1.1.1 Economic methodology, 1.1.2 The nature and purpose of economic activity, 1.1.3 Economic resources, 1.1.4 Scarcity, choice and the allocation of resources, and 1.1.5 Production possibility diagrams. Each one has a worked solution and a mark scheme showing where the marks go.