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Macroeconomics > 2.2 Development > Flashcards

2.2 Development Flashcards

1
Q

What does the primary sector of an economy cover

A

The extraction of raw materials, such as precious metals, wheat and coal

A large primary sector indicates a reliance on the agricultural market

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2
Q

What is the primary sector

A
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3
Q

What is the secondary sector

A
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4
Q

What is the tertiary sector

A
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5
Q

What is economic development

A
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6
Q

What is meant by sustainability

A
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7
Q

What makes growth sustainable

A

When the rate of economic growth can be maintained in the long run, so future generations can enjoy the same rate of growth

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8
Q

What might fast economic growth today mean for the future

A

It could mean that natural resources, such as oil, might deplete, which can cause environmental problems for future generations, and mean the future rate of growth might be weak

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9
Q

What are the two measures of macroeconomic measure and development

A

GDP

HDI

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10
Q

What is GDP

A
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11
Q

What is HDI

A
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12
Q

Why is HDI useful

A
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13
Q

Define Measure of Economic Welfare (MEW)

A
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14
Q

Define Human Poverty Index (HPI)

A
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15
Q

Define Multidimensional Poverty Index ( MPI)

A
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16
Q

Define Gender-related Development Index (GDI)

A
17
Q

What factors contribute to economic growth and development

A 
Trade liberalisation 
Promotion of FDI 
Microfinance schemes 
Privatisation 
Development of human capital 
Infrastructure development 
Development of primary industries 
Fair trade schemes 
Debt relief
18
Q

How does trade liberalisation contribute to economic growth and development

A
19
Q

How does promotion of FDI contribute to economic growth and development

A
20
Q

How do micro-finance schemes contribute to economic growth and development

A
21
Q

How does privatisation contribute to economic growth and development

A
22
Q

How does the development of human capital contribute to economic growth and development

A
23
Q

How does infrastructure development contribute to economic growth and development

A
24
Q

How does the development of tourism contribute to economic growth and development

A
25
Q

How does the development of primary industries contribute to economic growth and development

A
26
Q

How do fair trade schemes contribute to economic growth and development

A
27
Q

How does debt relief contribute to economic growth and development

A

Macroeconomics (24 decks)

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