3.1 - Ginius Maths Flashcards
1
Q
Quality Of Life
A
Not easy to measure.
Use comparable measures of economic activity.
2
Q
Indicators Of Development
A
Single (GDP) or composite (HDI)
Environmental, economic or social.
There can be wide variation within a population.
3
Q
Is GDP Any Good?
A
GDP may be based on poorly gathered data.
‘Black Economy’
Non-declaration of higher income earners.
4
Q
Economic Growth Representations
A
Economic growth isn’t always distributed accurately, it doesn’t always reflect the true quality of life.
5
Q
The Gini Co-Efficient
A
A measure of the degree of inequality in a society, it gives a nice neat number to measure income inequality within a country, which can be used to compare between countries and across time, it’s based on a ratio of areas from the Lorenz curve.
