National Economic Life – Self Employment II - JSS3 Civic education Past Questions and Answers - page 2

Self-employment plays a vital role in promoting economic resilience by enabling individuals to create their sources of income, thus reducing reliance on traditional employment opportunities. Additionally, self-employed individuals often drive innovation by introducing new products, services, and business models to the market, fostering economic growth and competitiveness.

Unemployment imposes significant economic costs, including reduced consumer spending, lower tax revenues, increased government spending on social welfare programs, and lost productivity. Moreover, unemployment leads to financial hardship for individuals, social isolation, and psychological distress, undermining societal cohesion and well-being.

Infrastructure plays a crucial role in promoting economic development by facilitating trade and commerce, enhancing productivity, and attracting investment. For example, efficient transportation networks, such as roads, railways, and ports, enable the movement of goods and people, while robust communication networks, including telecommunications and the internet, promote connectivity and access to information. Additionally, reliable public utilities such as water supply, electricity, and sanitation contribute to improving living standards and supporting economic activities.