Concepts and indicators of development Flashcards
(19 cards)
What is economic development?
The increase in production of goods and services to improve living standards.
Define human development
Improving people’s lives by expanding freedoms, choices, and opportunities.
What are the four pillars of human development?
Equity, Productivity, Empowerment, and Sustainability.
What is sustainable development?
Development that balances economic growth, social well-being, and environmental protection.
What does GDP per capita measure?
The average income per person, calculated by dividing total income by the population.
What are the limitations of GDP per capita?
It hides income inequality, ignores informal economies, and doesn’t show how wealth is distributed.
What does the GINI coefficient measure?
Income inequality, on a scale from 0 (perfect equality) to 1 (perfect inequality).
What does the HDI include?
Life expectancy, adult literacy, and GNI per capita.
What is economic neo-colonialism in tourism?
When foreign corporations profit from local tourism sectors, limiting local economic benefit.
What Caribbean countries rely heavily on tourism and offshore finance?
Bahamas, Antigua and Barbuda, St. Kitts & Nevis.
What were the impacts of the 2008–2009 global recession on the Caribbean?
Job losses, reduced investment, lower tourism revenue, and economic contraction.
What is the multiplier effect?
When government spending stimulates further economic activity beyond the original amount.
What is the cycle of poverty?
Being born poor limits access to education and resources, making it harder to escape poverty.
Name three regional institutions supporting development in the Caribbean.
CARICOM, CSME, OECS.
What is the role of the Caribbean Development Bank (CDB)?
To fund regional development projects.
What are SAPs and which international body imposes them?
Structural Adjustment Programs imposed by the IMF, requiring austerity measures for loans.
What are common education challenges in the Caribbean?
Irrelevant curricula, Eurocentric content, and lack of job-market alignment.
What are examples of gender inequality in the Caribbean?
Wage gaps, limited leadership roles, pregnancy discrimination, and gender-based violence.
What are the health concerns affecting Caribbean development?
Non-communicable diseases, child malnutrition, aging populations, and mental health issues.
