3.2.2- The changing economic world Flashcards
(17 cards)
What is development?
Development is defined as the progress of a country as it becomes more economically and technologically advanced.
What are some features of development?
Physical: water supply, housing, power and heat, diet and nutrition
Social: family and friends, education, health
Psychological: happiness, security, freedom
Economic: income, job security, standard of living, mobility etc
What does development refer to?
It refers to positive changes in people’s quality of life, such as happiness, educational opportunities, increased incomes, human rights, access to clean water and healthier living conditions.
Are features of development independent of each other?
These different components are not independent of each other, but linked (eg. health and environment are dependent on income, and these may in turn impact happiness).
Does development happen in a smooth continuous process?
Development does not happen through a smooth continuous process. It can be slowed, halted and even reversed through:
War//conflict
Disease
Disasters
Economic recession
What can development occur through?
Development can occur through:
Investment in agriculture (tractors, fertilisers etc) improves food supplies, which in turn improves the health of people.
Improvements in supplies of power to rural areas.
Improvements in access to education for females and overall literacy rates
What is an HIC?
High Income Country: Countries that have modern industries and people enjoy a good standard of living with relatively high levels of income. These are countries with a GNI per capita above US$ 12,696, eg Germany and the USA
What is an NEE?
Countries experiencing rapid economic growth and development based on industrial development. Incomes are rising and most people enjoy a reasonable standard of living. These are countries with a GNI per capita of more than $1,045 but less than $12,695, eg Mexico and Iraq
What are the BRICS countries (these are all NEEs)?
Brazil, Russia, India, China, and South Africa,
What is an LIC?
Low Income Country: Countries that have modern industries and people enjoy a good standard of living with relatively high levels of income. These are countries with a GNI per capita of $1,045 or less, eg Chad and Ethiopia
What is the development gap?
The differences between less and more development is known as the development gap.
What is quality of life?
Quality of life is used to evaluate the general well-being of individuals and societies.
What is standard of living?
Standard of living is the level of wealth, comfort, material goods and necessities available to a certain group of people in a certain geographic area.
What is HDI?
HDI is the Human Development Index- the main way to measure development. It takes into consideration literacy rate, life expectancy and GNI per capita for a country
What is Gross National Income per capita?
Measurement of economic activity calculated by dividing the gross (total) national income by the size of the population
How does GNI per capita change as a country develops?
Increases – increase in spending on education and infrastructure attracts businesses (multiplier effect). Moves from agriculture to manufacturing and service industries = makes more money
