Changing In Economic World Knowledge Orginaser Flashcards
What is development?
The progress of a country in terms of economic growth, the use of technology, and human welfare.
List the different types of development.
- Economic
- Social
- Cultural
- Environmental
What does GDP per capita measure?
The total value of goods and services produced in a country per person, per year.
What does GNI per capita represent?
An average of gross national income per person, per year in US dollars.
Define birth rate.
The number of people born per 1,000 people.
Define death rate.
The number of people who die per 1,000 people.
What is infant mortality?
The number of children who die before reaching 1 per 1,000 babies born.
What is the literacy rate?
The percentage of the population over the age of 15 who can read and write.
What does life expectancy indicate?
The average lifespan of someone born in that country.
What is the Human Development Index (HDI)?
A number that uses life expectancy, education level, and income per person.
What does the Demographic Transition Model illustrate?
The transition of a country’s population structure over time, including birth and death rates.
Fill in the blank: In Stage 1 of the Demographic Transition Model, the birth rate is _______.
High
Fill in the blank: In Stage 1 of the Demographic Transition Model, the death rate is _______.
High
What characterizes Stage 2 of the Demographic Transition Model?
High birth rate, rapidly falling death rate, and rapid population increase.
What is a Population Pyramid?
A graphical representation of the age and sex distribution of a population.
Where are most High-Income Countries (HICs) located?
Europe, North America, and Oceania.
Where are most Newly Emerging Economies (NEEs) found?
Asia and South America.
Where are most Low-Income Countries (LICs) located?
Africa.
List physical factors affecting uneven development.
- Natural Resources
- Natural Hazards
- Climate
- Location/Terrain
What is one benefit of natural resources for development?
Availability of fuel sources such as oil.
How can natural hazards affect development?
Frequent hazards undermine redevelopment.
What impact does education have on development?
Creates a skilled workforce and increases production of goods and services.
What is the effect of trade surplus on a country’s economy?
It can improve the national economy.
True or False: Lack of clean water and poor healthcare contributes positively to economic development.
False
What historical factor has slowed down development in many countries?
Colonialism.
What can excessive reliance on aid lead to?
It might stop other trade links from becoming established.
What are microfinance loans?
Small loans provided to people in LICs to start their own businesses
Microfinance loans are designed to empower individuals in low-income countries by providing them access to capital.
What is a potential downside of microfinance loans?
Not clear they can reduce poverty at a large scale
While microfinance can help some individuals, its overall impact on poverty alleviation remains uncertain.
What is foreign direct investment?
When one country buys property or infrastructure in another country
This type of investment can enhance economic relationships and development.
What is a benefit of foreign direct investment?
Leads to better access to finance, technology & expertise
Foreign direct investment often brings valuable resources to the host country.
What is a potential concern associated with foreign direct investment?
Investment can come with strings attached
Countries may need to comply with certain conditions imposed by investors.
What is aid?
Money or resources given by one country to another
Aid can support various development initiatives in recipient countries.
What is a positive outcome of aid?
Improves literacy rates, builds dams, and enhances agriculture
Aid can have significant impacts on social and economic development.
What is a downside of aid?
Can be wasted by corrupt governments or lead to dependency
The effectiveness of aid can be undermined by mismanagement or over-reliance.
What is fair trade?
A movement ensuring farmers receive a fair price for their goods
Fair trade aims to promote equitable trading conditions.
What is a benefit of fair trade?
Farmers can develop schools & health centres
Fair trade income can be reinvested into community development.
What is a limitation of fair trade?
Only a tiny proportion of the extra money reaches producers
The distribution of fair trade profits can be uneven.
What is debt relief?
Cancellation of a country’s debt or lowering of interest rates
Debt relief can provide financial breathing room for developing nations.
What is a benefit of debt relief?
More money can be spent on development
Debt relief allows countries to redirect funds towards essential services.
What is a potential downside of debt relief?
Locals might not always get a say in the process
Decisions regarding debt relief can sometimes be made without local input.
What does technology in development refer to?
Tools, machines, and affordable equipment that improve quality of life
Technology plays a crucial role in enhancing living standards.
What is a benefit of renewable energy technology?
Less expensive and polluting
Renewable energy sources contribute to environmental sustainability.
What is a limitation of technology in development?
Requires initial investment and skills in operating technology
Access to technology is often hindered by costs and training needs.
What is the location and background of Jamaica?
LIC island nation in the Caribbean
Jamaica’s geographical features attract tourism.
What percentage of GDP does tourism contribute to Jamaica as of 2015?
27%
Tourism is a significant economic driver for Jamaica.
What was the impact of the global recession in 2008 on Jamaican tourism?
Caused a decline in tourism
Economic downturns can severely affect tourism-dependent economies.
What is a multiplier effect in the context of tourism in Jamaica?
Jobs from tourism lead to more spending in local businesses
The tourism sector can stimulate broader economic activity.
What is a development problem related to tourism in Jamaica?
Tourists do not always spend much money outside their resorts
This limits the economic benefits of tourism for local communities.
What infrastructure improvements have been made in Jamaica to support tourism?
New sewage treatment plants have reduced pollution
Infrastructure development can enhance both tourism and local living conditions.
What are some ongoing challenges faced by many people in Jamaica?
Live in poor quality housing and lack basic services
Despite tourism growth, significant socio-economic issues remain.
