Development Flashcards
(40 cards)
What does development mean?
Improvement of a country’s economic and social conditions through management of natural and human resources.
Development can vary in definition based on individual perspectives.
What are the outdated classifications of countries based on development?
First World, Second World, Third World.
These terms were used during the Cold War to classify countries based on their economic systems.
What is the North-South Divide?
An imaginary line separating richer and poorer countries, with the North being wealthier and the South poorer.
The division does not follow geographical boundaries, such as the equator.
What do LEDCs and MEDCs stand for?
LEDCs: Less Economically Developed Countries; MEDCs: More Economically Developed Countries.
These terms reflect a country’s level of industrial and economic activities.
What are Newly Industrialised Countries (NICs)?
Developing countries that have recently achieved significant economic growth, such as Brazil and China.
NICs are often characterized by rapid industrialization and economic expansion.
How is development defined in modern terms?
Use of resources and technology to increase the standard of living, including social and cultural advancement.
Recent analyses include sustainable development as a key concept.
What are development indicators?
Statistically measurable aspects used to compare levels of development across countries.
Indicators can be demographic, social, economic, or sustainable.
What is the significance of GDP and GNP in measuring development?
They are indicators of a country’s economic state and service provision.
High GDP or GNP suggests strong industrial and service sectors.
What are the limitations of using GDP and GNP as indicators?
They do not show income distribution, ignore informal work, and may not reflect overall quality of life.
They also fail to account for traditional and community-based economic activities.
What is life expectancy and what does it indicate?
Average number of years an individual is expected to live, indicating standard of living and health care quality.
High life expectancy is associated with good nutrition and sanitation.
What does the Infant Mortality Rate (IMR) measure?
The number of children dying before a certain age, indicating health service quality and maternal education.
IMR can be expressed per 1000 births and reflects overall health conditions.
What is the Human Development Index (HDI)?
A composite index measuring longevity, knowledge, and standard of living.
HDI values range from 0 (poor quality of life) to 1 (high quality of life).
What is the Gini Coefficient?
An economic index measuring income inequality within a country.
Values range from 0 (complete equality) to 100 (complete inequality).
What are development models?
Simple frameworks explaining economic growth and development processes.
They help identify obstacles and guide government policies.
What are the five stages of Rostow’s Model of Economic Growth?
Traditional society, preconditions for take-off, take-off, drive to maturity, age of high mass consumption.
This model emphasizes capital receipt from MEDCs.
What is Friedmann’s Core-Periphery Model?
A model describing economic development in spatial contexts, progressing through four stages.
It can be applied both locally and globally.
What is globalization?
The interconnectedness of countries affecting trade, culture, and communication.
Globalization has both benefits and challenges in various sectors.
What does sustainability mean in the context of development?
Long-term planning that balances economic growth with environmental responsibility.
Sustainability is crucial for ensuring that development does not deplete resources.
What is Friedmann’s Core-Periphery Model?
A model of economic development proposed by J Friedman in the 1960s and 1970s that progresses through four stages of development and takes into account the spatial context of a country’s developing regions.
What do sustainability models developed in the 1990s to 2000s emphasize?
Economic, social, and environmental elements of development, focusing on well-being, justice, human resources, and environmental sustainability.
What are the basic needs that development must address according to sustainability models?
- Water
- Sanitation
- Food
- Shelter
What is the definition of trade?
The exchange of goods and services for money.
What role does international trade play in a country’s economy?
It helps develop the economy by increasing the need to exchange goods due to uneven distribution of raw materials.
What are additional costs associated with international trade?
- Tariffs
- Time costs due to delays
- Currency differences
- Legal systems
- Cultural differences
