The three Gorges Dam project in Central China is essentially a flood mitigation project to stop the annual flooding of the Yangtze River. But it also generates electricity.
In 2004, the project is expected to generate 84.7 billion kilowatt hours of electricity per year. This is enough to power eighteen cities of 1 million people. Operation of the project is expected to reduce China’s consumption of imported coal by 50 million tones per year thus reducing the discharge of 2 million tones of Sulphur dioxide and 10,000 tones of carbon monoxide each year.
Economics - Financial Markets
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1. What factors of production are involved in the case study?
2. What needs and wants are being met by the project?
3. Explain the impact of the project on the question of ‘how to produce electricity’?
4. What are te opportunity costs of shifting to hydro-electricity?
5. List two possible effects of the projects on Australia (hint: one is to do with the ozone layer).
Please help me checking my answers for this case study.
my answers to the questions above are as:
1. All the four factors are involved, i.e., Land, labor, capital, and organization. Since a piece of land is needed to build the dam, labor is needed to construct it, capital is needed for the construction of the dam. Some organization or managers are needed to handle the construction and the related issues and to make the decisions while the dam is being constructed.
2. The need of electricity is being met by the project. (Please let me know if there is any other need or want that is being met by the project).
3. (I dont know the answer to this one, please help me here).
4. (I believe the opportunity costs are that the capital can be used else where. I dont know the answer exactly to this one, please help me here.)
5. (Please help with this answer as well).
For the second one what about a want of a more eco-friendly system, by reducing coal usage