Lecture 10

Question 1

economic development

Answer 1

process of change in nature & composition of economy of a region to increase its overall prosperity

Question 2

3 types of changes in economic development

Answer 2

• change to structure of regions economy
• forms of economic organization (socialism to capitalism)
• availability and use of tech within the region

Question 3

what does economic development create (2)

Answer 3

• better basic living conditions (housing, healthcare) & physical infrastructure

Question 4

economic development is ____

Answer 4

uneven
(core & periphery countries)

Question 5

can any country be fully developed

Answer 5

NO economic development is continuous

Question 6

examples of core regions (developed), periphery (less developed) and semiperiphery (developing)

Answer 6

core - N.A. / Europe / Japan

periphery - Angola, Haiti

semiperiphery - mexico, brazil

Question 7

gross domestic product (GDP)

Answer 7

earlier of total value of all materials, foodstuffs, goods and services produced by a country in a year

Question 8

gross national income (GNI)

Answer 8

measure of income flows to a country from production, no matter where in the world that production occurs

Question 9

what is PPP

Answer 9

purchasing power parity
- “international dollar”
- how much goods and services a country can purchase

Question 10

what are some key resources that influence economic development (3)

Answer 10

• energy
• minerals
• cultivable land

Question 11

describe energy as a resource

Answer 11

• oil and gas
• core countries are energy rich
• high income countries use half of all commercial energy

Question 12

what is the most important commodity in world trade

Answer 12

oil

Question 13

describe minerals as a resource

Answer 13

• most raw materials concentrated in russia, us, canada, south africa, australia (due to geology)
• if dependent on one resource vulnerable to tech/ price changes

Question 14

describe cultivable land as a resource

Answer 14

• more than half of earths land is unsuitable for any farming
• not all farming land is the same quality —> has carrying capacity

Question 15

sustainable development (SD) involves achieving a balance between…. (3)

Answer 15

• economic growth
• environmental impacts of that growth
• social equity/ fairness of distribution of costs&benefits of growth

Question 16

what is the most serious limitation to sustainable development and what can be used instead

Answer 16

limitation = reliance on fossil fuels

can use renewable energy from sun/tides/winds etc

Question 17

greatest obstacle to SD

Answer 17

insufficient frameworks to balance economy and enviro

Question 18

what are primary vs secondary economic activities

Answer 18

primary - concerned directly with natural resources (ag,mining, fishing)

secondary - process raw materials from primary to reassemble into other goods (food processing, furniture production, car assembly)

Question 19

what are tertiary vs quaternary economic activities

Answer 19

tertiary - involve sale & exchange of goods and services (retail, personal services, entertainment)

quaternary - handling and processing of knowledge & info

Question 20

countries with lots of primary activities would have a ____ per capita GDP and would be a _____ country

Answer 20

low per capita
peripheral countries

Question 21

countries with lots of secondary activities would have a ____ per capita GDP and would be a _____ country

Answer 21

high per capita

semiperipheral country

Question 22

countries with lots of tertiary & quaternary activities would have the ____ per capita GDP and would be a _____ country

Answer 22

highest per capita GDP

core country
* small but highly productive secondary