Change In Econmoic World Flashcards
What is one benefit of aid in developing countries?
Aid can help some countries develop key projects for infrastructure faster.
Aid can improve services such as schools, hospitals, and roads.
What is a potential negative effect of too much reliance on aid?
Too much reliance on aid might stop other trade links becoming established.
How does education contribute to economic development?
Education creates a skilled workforce meaning more goods and services are produced.
Educated people earn more money, meaning they also pay more taxes.
What is the relationship between educated individuals and taxation?
Educated people earn more money, meaning they also pay more taxes.
What political factor can affect a country’s ability to trade?
Corruption in local and national governments.
How does government stability affect economic development?
The stability of the government can affect the country’s ability to trade.
What is a trade surplus?
Countries that export more than they import have a trade surplus.
Why is having good trade relationships important?
Having good trade relationships can improve the national economy.
Which is more profitable: trading goods and services or raw materials?
Trading goods and services is more profitable than raw materials.
What health issues can hinder economic contribution?
Lack of clean water and poor healthcare means a large number of people suffer from diseases.
How does illness affect economic productivity?
People who are ill cannot work so there is little contribution to the economy.
What is the trade-off when more money is spent on healthcare?
More money on healthcare means less spent on development.
What historical factor has helped Europe develop?
Colonialism has helped Europe develop.
How has colonialism affected development in other countries?
Colonialism has slowed down development in many other countries.
What advantage do countries that industrialized earlier have?
Countries that went through industrialisation a while ago have now developed further.
What does uneven development refer to?
Development is globally uneven with most HICs located in Europe, North America, and Oceania.
HICs: High-Income Countries; NEEs: Newly Emerging Economies; LICs: Low-Income Countries.
Where are most NEEs located?
Asia and South America.
NEEs: Newly Emerging Economies.
Where are most LICs found?
Africa.
LICs: Low-Income Countries.
Name a physical factor affecting uneven development.
Natural Resources.
Includes fuel sources, minerals, metals, timber, and water access.
What are examples of fuel sources that affect development?
Oil, minerals, and metals.
These resources are critical for energy and industrial development.
What role does climate play in development?
Reliability of rainfall benefits farming; extreme climates limit industry and affect health; climate can attract tourists.
Climate conditions can significantly influence economic activities and population health.
How do natural hazards impact development?
Risk of tectonic hazards; benefits from volcanic material and floodwater; frequent hazards undermine redevelopment.
Natural hazards can disrupt economic stability and growth.
What challenges do landlocked countries face?
Trade difficulties.
Lack of direct access to oceans can hinder economic development.
How does mountainous terrain affect development?
Makes farming difficult.
Topography can limit agricultural productivity and access to resources.