11.3 Economic Development Flashcards
1
Q
Developed economies
A
economies with high GDP per head
2
Q
Developing economy
A
an economy with a low GDP per head
3
Q
Poverty cycles
A
the links between, for example, low income, low savings, low investment and low productivity
4
Q
Development traps
A
restrictions on the growth of developing economies that arise from low levels of savings and investment
5
Q
Emerging economies
A
economies with a rapid growth rate and that provide good investment opportunities
6
Q
Economic development
A
an increase in welfare and the quality of life
