Exam 3 Flashcards
(52 cards)
What is economic develop measured in?
productivity
incomes
purchasing power
consumption
What is economic development?
the processes of change involving the nature and composition of the economy of a particular region as well as to increases in the overall prosperity of the regions.
Three types of changes that lead to economic development
changes in the structure of the region’s economy
changes in forms of economic organization within the region
changes in the availability and use of technology within the region
Most important thing in changing for economic well-being
changes in the capacity of the region to improve the basic conditions of life
GDP
gross domestic product - an estimate of the total value of all materials, foodstuffs, goods and services that are produced by a country in a particular year
per capita GDP
GDP divided by total population, to measure and compare it to other areas
GNI
gross national income - a measure of the income that flows to a country from production wherever in the world that production occurs
PPP
purchasing power parity - how much of a common “market basket” of goods and services each currency can purchase locally, including goods and services that are not traded internationally
How can a lack of natural resources be remedied?
Through international trade, like Japan
What is an important component of world trade due to unevenness?
energy
Technology systems
clusters of interrelated energy, transportation and production technologies that dominate economic activity for several decades at a time until a new cluster of improved technology evolves.
Technology system - 1790 to 1840
early mechanization based on water power and steam engines; development of cotton textiles and ironworking; development of river transport systems, canals and turnpike roads
Technology systems - 1840 to 1890
exploitation of coal-powered steam engines; steel products; railroads; world shipping; and machine tools
Technology systems - 1890 to 1950
exploitation of the internal combustion engine; oil and plastics; electrical and heavy engineering; aircraft; radio and telecommunications
Technology systems - 1950 to 1990
exploitation of nuclear power, aerospace, electronics, and petrochemicals; development of limited-access highways and global air routes
Technology systems - 1990 to present
exploitation of solar energy, robotics, microelectronics, biotechnology, nanotechnology, advanced materials (fine chemicals and thermoplastics, for example), and information technology (digital communications and geographic information systems, for example)
Key Elements of Sustainable Development
- growth of energy supplies
- energy efficiency and conservation measures
- recognition of public health risks
- protection of biosphere (pollution)
Patterns of economic development
- Unevenness of Economic Development
- Resources and Development
- Economic Structure of Countries and Regions
- International Trade, Aid and Debt
- Interpretations of Patterns of Development
4 sectors of Economic Structure
- Primary
- Secondary
- Tertiary
- Quaternary
Primary Economic Activities
those concerned directly with natural resources of any kind
- Agriculture - Mining - Fishing - Forestry
Secondary Economic Activities
are those that process, transform, fabricate, or assemble the raw materials derived from primary activities or that reassemble, refinish, or packaged manufactured goods.
Tertiary Economic Activities
are those involving the sale and exchange of goods and services.
- Warehousing - Retail Stores - Personal services - Commercial services - Entertainment
Quaternary Economic Activities
are those dealing with the handling and processing of knowledge and information
- Data processing - Information retrieval - Education - Research and development
Countries that are dependent on primary activities
Sub-Saharan Africa and Asia
