4.1.1 Growing Economies

Question 1

Emerging economies?

Answer 1

The economies with rapid growth, and significant risk

Question 2

BRICS and MINT examples of emerging economies?

Answer 2

Brazil, Russia, India, China, South Africa

Mexico, Indonesia, Nigeria and Turkey

Question 3

Economic growth?

Answer 3

increase in countries productive capacity

Question 4

Developed countries?

Answer 4

high incomes, and large service sectors

Question 5

Developing countries?

Answer 5

low incomes, high manufacturing and cheap labour

Question 6

Average economic growth per year of mature economies?

Answer 6

2-2.5%

Question 7

Human Development Index?

Answer 7

collection of statistics ranking countries according to human development

Question 8

GDP?

Answer 8

measures value of all goods produced within a year in a an economy

Question 9

Purchasing Power Parity?

Answer 9

measure of real growth - using prices of products in order to compare prices in different economies

Question 10

Literacy rate?

Answer 10

% of adults over 15 that can read or write

Question 11

3 things Human Development Index cover?

Answer 11

life expectancy, mean years of schooling, gross national income