Economic World Flashcards

1
Q

What are 4 physical factors affecting uneven development

A

Natural Resources
Natural Hazards
Climate
Location / Terrain

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2
Q

How do natural resources affect uneven development

A

Fuel sources such as oil
Minerals and metals for fuel
Availability for timber
Access to safe water

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3
Q

How does climate affect uneven development

A

Reliability of rainfall to benefit farming
Extreme climates limit industry and affects health
Climate can attract tourists

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4
Q

How do natural hazards affect uneven development

A

Risk of tectonic hazard
Benefits from volcanic material and floodwater
Frequent hazards undermine redevelopment

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5
Q

How does Location/Terrain affect uneven development

A

Landlocked countries may find trade difficult
Mountainous terrain makes farming difficult
Scenery attracts tourists

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6
Q

What are 6 human factors affecting human development

A

Aid
Trade
Education
Health
Politics
History

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7
Q

How does Aid affect uneven development

A

Helps aid projects
Can improve services
HOWEVER, too much reliance on aid can prevent trade links

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8
Q

How does Education uneven development

A

Skilled workforce leads to more goods and services being produced
Educated people earn more people leading to more taxes paid used for development

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9
Q

How does Politics affect uneven development

A

Corruption
Governments stability affects trade
Ability to invest into services and infrastructure

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10
Q

How does Trade affect uneven development

A

Export more than import have TRADE SURPLUS
Trade is more profitable than raw materials

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11
Q

How does Politics affect uneven development

A

Corruption
Governments stability affects trade
Ability to invest in services and infrastructure

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12
Q

How does Health affect uneven development

A

Lack of clean water and healthcare lead to disease
Ill people cannot work leading to less contribution to the economy
More money spent on healthcare means less spent on development

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13
Q

How does History affect uneven development

A

Colonialism has helped develop in Europe but slowed in other countries
Countries that went through industrialisation a while ago are developed further

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14
Q

Stage 1 of DTM

A

High Birth and Death rate fluctuates and balances each other
The total population is low

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15
Q

Stage 2 of DTM

A

Death rate decreases rapidly
Birth rate high
Total population increase

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16
Q

Stage 3 of DTM

A

Death rate steady
Birth rate decreases slower
Total population increase slows

17
Q

Stage 4 of DTM

A

Death rate low
Birth rate low
Total population stable or slow increase

18
Q

STage 5 of DTM

A

Death rate low
Birth rate very low
Total population slow decrease

19
Q

What are 6 ways to reduce the global development gap

A

MIcrofinance Loans
Foreign-Direct Investment
Fair Trade
Aid
Debt Relief
Technology

20
Q

Ways of reducing Development Gap through MICROFINANCE LOANS

A

Consists of people in LICs receiving small loans from traditional banks
+ Loans allow people to start businesses
- Its not clear they can reduce poverty at a large scale

21
Q

Ways of reducing Development Gap through FOREIGN - DIRECT INVESTMENT

A

When one country buys property or infrastructure in another country
+ Leads to better access to finance, technology & expertise
- Investment can come with strings attached that the country’s will need to comply with

22
Q

Ways of reducing Development Gap through FAIR TRADE

A

Farmers get fair pay for products
+ Paid fairly so can pay for schools and health centers
- Only a tiny proportion of the extra money reaches producers

23
Q

Ways of reducing Development Gap through AID

A

Money or Resources are given to a country by another
+ Improve agriculture
- Corrupt governments or become too reliant

24
Q

Ways of reducing Development Gap through DEBT RELIEF

A

The country’s debt is canceled or interest rates are lowered
+ More money spent on development
- Aid can be tied under condition
Locals may not get a say

25
Q

Ways of reducing Development Gap through TECHNOLOGY

A

+ Renewable energy is less expensive and polluting
- Requires initial investment and skills in operating technology