4.3 - Measuring Development

Question 1

What is economic development?

Answer 1

Increasing availability + distribution of
G + S
Raising living standards, including provision of more jobs, better education + attention to human/cultural values

Question 2

What are the characteristics of a developed economy?

Answer 2

Industrial history
High tech. investment
Low population growth
High GNI
Minimal manufacturing + agri. sectors

Question 3

What are the characteristics of an emerging economy?

Answer 3

Rapid growth
Industrialisation
Rising inequality
Shift towards manufacturing
Advancement of 3+4 sectors

Question 4

What are the characteristics of a developing economy?

Answer 4

Primary dependency
Resource curse
Corruption
Aid reliance
Low tech + investment

Question 5

What can be considered the 3 objectives of development?

Answer 5

Life sustaining goods + services
Higher incomes
Economic + social freedom

Question 6

What are the distinctions between economic growth + development?

Answer 6

Development focuses on increasing economic opportunities + freedoms
Growth focuses on productive capacity + GDP/GNI expansion