4.1.1 Growing economies

Question 1

define economic growth

Answer 1

an increase in a country’s productive capacity

Question 2

define emerging economies

Answer 2

the economies of developing countries where there is rapid growth, but also significant risk

Question 3

define human development index

Answer 3

a collection of statistics that are combined into an index, ranking countries according to their human development

Question 4

define literacy rate

Answer 4

the percentage of adults that can read and write

Question 5

define purchasing power parity

Answer 5

a measure of real growth that uses the price of purchasing a standardised basket of goods and services in order to compare prices across economies