The changing Economic world Flashcards
(19 cards)
Development
The progress of a country in terms of economic growth, use of technology and welfare of people
Development indicator
A measure that can be used to show the level of development of a country
Economic indicators
- GDP per capita
- Percentage employment in different sectors
- Productivity
Social indicators
- Life expectancy
- Literacy rate
- Infant mortality
- Access to safe water
Political indicators
- Freedom/democracy indices
- Corruption levels
Environmental indicators
- Carbon footprint
- Level of pollution
- Access to electricity
Composite indicators
- Human Development Index (HDI)
- Gender Inequality Index
- Happiness Index
Limitations of development indicators
- May hide inequalities within countries
- Some data may be unreliable or unavailable
- Cultural bias in what is measured
- Focus on economic factors may ignore other aspects of development
Factors affecting development
- Physical factors (climate, natural resources, natural disasters)
- Economic factors (trade, debt)
- Historical factors (colonialism)
- Political factors (corruption, conflict)
- Social factors (education, health)
Consequences of uneven development
- International migration
- Disparities in wealth and health
- Unrest and conflict
Strategies to reduce the development gap
-Investment by TNCs
-Industrial development
-Tourism
-Aid
-Intermediate technology
-Fair trade
-Debt relief
-Microfinance
Causes of economic change in the UK
-Deindustrialisation
-Globalisation
-Government policies
-EU membership and Brexit
-Technological change
Post-industrial economy
-Decline of manufacturing
-Growth of service sector
-Development of quaternary sector (research, ICT)
Science and business parks
-Located near universities
-Focus on research and development
-High-tech, clean industries
-Example: Cambridge Science Park
Transport developments
-HS2 (High Speed 2)
-Airport expansions
-Port developments
-Smart motorways
North-South divide
-Economic and social differences between regions
-Higher wages and property values in South
-Higher unemployment in North
-Government’s “levelling up” agenda
UK in the wider world
-Commonwealth links
-European trade relationships post-Brexit
-Global trade and political influence
-Foreign direct investment
Environmental impacts of industry
-Air and water pollution
-Visual pollution
-Noise pollution
-Waste disposal problems
Sustainable industrial development
-Carbon capture and storage
-Renewable energy use
-Waste reduction and recycling
-Energy-efficient buildings
