Changing Economic World Flashcards
What is development?
Types of development
Improvement in living standards through better use of resources
Economic, social, environmental
Examples of economic indicators
Examples of social indicator
Employment Type - primary, secondary, tertiary, quaternary
GNI - average of income per person, per year in USD
GDP - total value of goods and services produced in a country per person, per year
Infant mortality - how many infants out of 1000 die before reaching 1 year of age
Literacy rate - percentage of people over the age of 15 who can read and write
Life expectancy - average lifespan of a person in that country
What is HDI and what are the benefits?
Human Development Index
Provides a well-rounded measure of development that takes into account social and economic indicators
Stages of DTM (DR, BR, pop.) with modern examples
Stage 1 - high DR, high BR, steady e.g. tribes
Stage 2 - declining DR, high BR, rising e.g. Kenya
Stage 3 -rapidly falling DR, declining BR, high e.g. India
Stage 4 - low DR, low BR, steady e.g. UK
Stage 5 - slowly falling DR, low BR, slowly declining e.g. Japan
Physical factors affecting uneven development
Natural resources - timber, water, fuel, etc.
Climate - rainfall reliability, attract tourists, extreme climates, etc.
Location - landlocked, mountainous, scenery (tourism), etc.
Hazards - tectonic, volcanic material/floodwater benefits, frequency, etc.
General distribution of HICs, NEEs and LICs
HICs - Europe, N. America + Oceania
NEEs - Asia + S. America
LICs - Africa
LIC
NEE
HIC
Low income country - low GNI and low standard of living, primary sector
Newly emerging economy - economy progressing to secondary/tertiary sectors, greater exports, better wages
High income country - high GNI and high standard of living, quaternary sector, money spent on services
Human factors affecting uneven development
Aid - develop infrastructure and services, support after disasters, too much reliance may damage global links
Trade - trade surplus improves local economy, goods and services more profitable than raw materials, good trade relationships
Education - skilled workforce, more money earned so more taxes
Health - clean water and healthcare, ill people don’t contribute to economy, more spent on healthcare so less for development
Politics - corruption, stability, investment in services and infrastructure
History - colonialism, deindustrialisation
Consequences of uneven development
Wealth - higher incomes in HICs than in LICs
Health - greater life expectancy and quality of life
Migration - people may move countries for better standard of living or income
Reducing development gap
Advantage and disadvantage of each
Microfinance - enable people to start businesses, doesn’t reduce poverty on a larger scale
Foreign-direct investment - better access to finance, technology & expertise, could come with strings attached
Aid - improve standard of living and economy, could be wasted by corrupt governments/become too reliant on aid/bilateral
Debt Relief - more money spent on development, can come with conditions
Fair Trade - paid fairly so develop schools and health centres, only tiny proportion of extra money reaches producers
Technology - less expensive and polluting (e.g. renewable energy), requires initial investment and skills in operating/repairing technology
Jamaica location and background
LIC island nation - part of Caribbean
Attractive to visitors - tropical, sandy beaches, etc.
Jamaica tourist economy
2015 2.12 million visited 27% of GDP; increase to 38% by 2025 130,000 jobs Global recession 2008 caused decline in tourism but it is beginning to recover
Jamaica multiplier effect
Jobs from tourism - more money (disposable income) spent in shops and businesses
Government invests in infrastructure to boost tourism
New sewage treatment plants reduce pollution
Jamaica development problems
Tourists don’t spend much money outside of resorts
Infrastructure developments haven’t spread through whole island
Poor quality housing and lack of basic services e.g. healthcare
Nigeria location & importance
NEE in West Africa
Just North of Equator - range of environments
Most populous and economically powerful country in Africa
Economic growth based on oil exports
