Development Flashcards
What is GNP?
GNP is the total value of all goods and services produced by a country in a year plus the net income earned by the country and its population from overseas sources.
What is first world?
The developed world
What is the second world?
State controlled communist countries such as the former USSR or the countries of Eastern Europe.
What is the third world?
The developing world.
What is the development gap?
The difference in affluence between the richer and poorer countries. This gap increases with time.
What is foreign direct investment?
Investment by a TNC in countries other than their parent country.
What is globalisation?
The increasing interconnection of the world’s economic, cultural, and political systems.
What is GDP?
GDP is the total value of all goods and services produced by a country in a year.
What is an NIC?
A newly industrialised country is a country in the developing world that has undergone rapid industrialisation.
What is the north-south divide?
It is supposed to separate the richer and poorer countries, also known as the Brandt line as Brandt Report was the guy who came up with it.
Define sustainable development.
Development that meets the needs of the current population without compromising the ability of future generations to meet their needs.
What is a TNC?
It is a company that has the power to coordinate and control economic operations in more than one country. The company doesn’t have to own the operations outside its home country.
What is HDI?
It is the human development index and it measures LIFE EXPECTANCY at birth, ADULT LITERACY and enrolment in education at primary, secondary and tertiary levels and real GDP per capita.
What are the 3 types of globalisation?
Economic
Cultural
Political
Who are the first generation NICs?
South Korea, Singapore and Taiwan
