2B: The changing economic world Flashcards
what are some was to measure development
GDP = total value of goods and services produced by a county per person
GNI = average of gross national income per person
Infant mortality = number of children who die before reaching 1
literacy rate
life expectancy
Human development index = life expectancy, literacy rate income per person
what are the physical factors which cause uneven development
natural resources
- fuel sources, minerals, metals, water
- all help to boost wealth and trade for development
natural hazards
- risk of natural hazards can cause slow development
- benefits for volcanos such as fertile land
climate
- rainfall for farming
- extreme climates can limit industries and affects health
climate can attract tourist
location
- landlocked countries = difficulty trading
- mountainous terrain cause farming to be difficult
- scenery attracts tourists
what are the economic factors which cause uneven development
aid
- can improve services, building and overall living standard
trade
- helps to make bonds with countries
- improves economy
education
- a skilled workforce created
-educated people often make more money
what are the historical/human factors which cause uneven development
- colonialism slows down development in other countries due to taking of resources
what are the consequences of uneven development
- wealth divide
- better healthcare, people in developed countries live linger than people e in under developed countries
- if nearby countries have high levels of development they will move to those cities for more opportunities
how to reduce the global development gap
- microfinancing loans
- foreign direct investment
- aid
- debt relief
- fair trade
- technology
what are the + and - of microfinancing
giving people in LIC’s small loans
+ enables people to start there own businesses
- doesn’t directly or in a large scale solve poverty
what are the + and - of foreign-direct investment
when one country buys propery in another country
+ leads to better access to finance and technology
- the country may have to return the favour
what are the + and - of aid
a country giving another country resources or money
+ improves literacy rates and can improve services and agriculture depending on where money is spent
- can be wasted by corrypt government
what are the + and - of debt relief
a countries debt to another country is lowered or cancelled
+ more money spent by country on development , improves bonds
- the country might have to return the favour
what are the + and - of fair trade
farmers get a fair price for the goods produced
+ paid fairly so they can develop schools and health centres
- only a small amount of extra money reaches farmers
what are the + and - of technology
uses of tolls, machinery and equipment to improve quality of life
+renewable energy is less expensive and polluting
- requires initial skills to use technology
how has tourism helps Jamaica’s economy
- bring in money
- contributes to above 30% of there gdp
- creates many jobs 100,000+
how has the multiplier effect benefitted Jamaica
money spreads around benefitting all of Jamaica
