In the context of microeconomics, how can disaster management frameworks affect
Practice Questions
Q1
In the context of microeconomics, how can disaster management frameworks affect local businesses?
By increasing competition
By providing subsidies and support
By reducing consumer demand
By increasing taxes
Questions & Step-by-Step Solutions
In the context of microeconomics, how can disaster management frameworks affect local businesses?
Step 1: Understand what disaster management frameworks are. They are plans and systems put in place to help communities prepare for, respond to, and recover from disasters.
Step 2: Recognize that local businesses can be impacted by disasters, such as floods, earthquakes, or fires, which can damage their property and disrupt operations.
Step 3: Learn how disaster management frameworks can provide support to local businesses. This support can include financial help, resources, and guidance during recovery.
Step 4: Identify the types of support that may be offered, such as subsidies (money given to help), loans, or grants to help businesses rebuild and continue operating.
Step 5: Understand that with this support, local businesses can recover faster, maintain jobs, and contribute to the local economy, leading to a positive impact.
