Topic: Economy & Money

IELTS Speaking Part 3: Industry – Model answer

Here is the answer to the question on industrialization I posted last week.

My country has various industries ranging from steel, gems, coal, hand looms, pharmaceuticals, textiles, cement, mining and software. Globalization of industry has its pros and cons. While it is now simpler to obtain goods from other countries, we are also competing on a global scale. This leads to every decision for such an industry to be made keeping in mind the competition worldwide. Customers are now spread across the world leading to a growth in the customer base for domestic industries. Ease of doing business has increase with the ability to source raw materials and other necessities from their point of origin if it is not available domestically. Such advantages have led to a better state of business today than before. There are also problems because of global competition such as overproduction by one country can greatly impact the demand and supply of a product as is happening with Steel at the moment because of excessive production by China.

Countries should have a fair limit on importing goods that can be produced in your country. Not doing so renders such producers at a disadvantage. Their prices will be affected and initiatives in such an industry might reduce because there is enough competition already. At the same time, imports can force local manufactures to improve the quality of their products or services to match global standards.

Industries have becoming more automated and computerized over the last few decades. Agriculture which used to be a huge sector has now lost out to people moving from rural areas to cities in order to work in such areas. Industries are given land to build their facilities often at the expense of farming causing livelihood of the farmers to be jeopardized. E-commerce has become a vast industry now with the rise in citizens having computers and access to the internet.

IELTS Speaking Part 3: Food production – Model answer

Here is a sample answer to the question I posted last week.

My country produces rice, wheat, sugarcane, coffee, tea and spices. It imports pulses, corn and a few fruits. Pulses are the biggest food time it imports. It bodes well for a country to be self sufficient as it has a multitude of wide ranging benefits.  A self sufficient country has the ability to sustain its population; lesser people will go hungry when you can afford to meet the food demand through native production of items. The currency you save by not having to import items can be spent on improving facilities and other welfare activities for the masses. In my country a significant number of people live below the poverty line and a self sustaining system would render lesser people hungry. More people would have access to food which has a domino effect in increasing public health, decrease in mortality rates, rise in employment and a growth in economy eventually. This leads to an overall increase in contentment and prosperity of the population. Other items can be imported then instead of food items majorly.  Self sufficiency in every aspect is not possible but achieving it in the food sector has many ramifications that can help the country progress.

In a country like mine where large number of people are employed in agriculture, buying from the farmers is better than buying from a supermarket. This is because buying from farmers is cheaper for the consumer; it eliminates the need of middlemen and ensures that the farmer gets his due price. It promotes agriculture and ensures its survival as a means of livelihood. Supermarkets may have more variety and maybe even better quality but they also increase food wastage by selecting only sustainable products. This pressurizes farmers to use genetically modified crops to ensure that their crops preserve longer.

IELTS Vocabulary: Economy & Money

Here is the text of the article I linked to in this post. This article will help you boost your vocabulary on a common IELTS topic Economy & Money.

If you haven’t read it yet, please read the article and make a note of useful vocabulary. Then, compare your list to the words and phrases highlighted in the text below.

THE ARTICLE:

What if we defined success not by the money we spent and the goods we consumed but by the quality of life we create not only for ourselves but for everyone with whom we share the planet? What if we added up the positives of economic growth and subtracted from them the clear negatives, so we had a better picture of whether we were headed in the right direction? (more…)

Economy & Money: Video Transcript

Here is a transcript of the video I linked to in this post. This video will help you boost your vocabulary on a common IELTS topic Economy & Money.

If you haven’t watched the video yet, please do so and make a note of useful vocabulary. Then, compare your list to the words and phrases highlighted in the transcript below.

TRANSCRIPT:

We’re heading out into the unknown. We need signposts to guide us – to assure us we’re going in the right direction. (more…)

IELTS Topic Vocabulary: Economy & Money

Economy & Money is one of the fifteen IELTS topics that frequently comes up in each of the four exams. To answer these questions confidently, you need to know topic-specific vocabulary. In this post, I’ll give you some resources you can use to increase your economy and money related vocabulary. But first, here are some examples of when you might be asked a question based on this topic:

IELTS Reading
A passage based on factors influencing the economy of Singapore.

IELTS Listening
A lecture on economic progress of several nations.

IELTS Writing Task 1
A bar chart comparing the economic growth of various countries (more…)

IELTS Writing Task 2 – Q.12

Here’s a sample Writing Task 2 question on the topic of economy.

 

Economic progress is often used to measure a country’s success. However, some people believe that other factors are more important. What other factors should also be considered when measuring a country’s success? Do you think one factor is more important than others?

 

Note the structure of the question: two sentences introduce the question. The first sentence is a fact and the second is an opinion.  Then comes the two-part question:

What other factors should also be considered when measuring a country’s success?

Do you think one factor is more important than others? (more…)

IELTS Writing Task 2 – Q.6

In the comments below, make notes on how you will structure your response.

 

As most people spend a major part of their adult life at work, job satisfaction is an important element of individual well-being. What factors contribute to job satisfaction? How realistic is the expectation of job satisfaction for all workers?

 

See here how to answer IELTS writing task 2 questions. I’ll post a model answer soon.

IELTS Speaking Part 3 – Q.7 – Model answer

Here is the answer to the question I posted last week. 

New technology can both benefit and harm the scope of employment. There are numerous jobs that have been created due to technology in many fields since new inventions have led to roles that were not previously needed.  Developments in fields such as biotechnology, intellectual property and computer engineering have led to a variety of jobs that were not foreseeable. Such developments then create a foundation for further progress and in such a cycle, jobs will always be needed to keep up with the current technology.  The patterns of employment have also changed with today people working for employers and organizations that are situated on the other end of the world. Since we are now able to communicate globally, there is a lesser need for employees to be located in the city of the business they are working. Flexible options such as work from home and video conferencing have increased the ease of working. It is easier to gain information about things not known to us such as studying abroad and so, more people are working beyond their natural environment and getting jobs in situations they could not have known without such technology.

There is no doubt that evolving technology can also signify a decrease in the demand for human labor. Industries that now rely on machinery or technological processes can eliminate human interaction such as the surge in online shopping cuts retail jobs. We are more independent today with all the facilities available to us that we do not need the services of others as much in some industries such as travelling for example. While travel agents were the norm before, today with the Internet we can book and plan our own trips.

So, new technology impacts each sector in a diverse way and it could either be beneficial for some and detrimental to others.

 

IELTS Writing Task 2 – Q.2

Here’s the second sample IELTS Writing Task 2 question. In the comments below, make notes on how you will structure your response.

 

The money given to help poor countries does not solve the problem of poverty, so rich countries should give other types of help instead.
 To what extent do you agree or disagree?

 

See here how to answer IELTS writing task 2 questions. I’ll post a model answer soon.