4.1.1 Indicators Of Growth

Question 1

What is GDP?

Answer 1

A measure of all the goods and services produced in a country divided by the number of people in the country

Question 2

Issues of GDP?

Answer 2

• can be hard to compare across nations with different currencies
• figures are adjusted to inflation

Question 3

What is health an indicators of ?

Answer 3

Standards of living and the potential demand and prosperity in a country

Question 4

What is literacy a good indicator of ?

Answer 4

standard of living in terms of the quality of education and the skills of the workforce in a country.

Question 5

As literacy rates improve what will this lead to ?

Answer 5

Higher literacy rates lead to a better quality workforce. As literacy rates improve so will the nature of the products and services bought and sold in that country.

Question 6

What is the purpose of HDI?

Answer 6

purpose of the HDI is to focus on a country’s people rather than simply the economic context.

Question 7

When may a business use HDI?

Answer 7

A business looking to expand into international markets might use the data to analyse the potential demand, income and skills within a country.

Question 8

name the HDI measures

Answer 8

Life expectancy
Mean years of schooling
Gross international income