Chapter 12 - Living Standards in a Changing World Flashcards
Define standard of living
Measure comparing how well people live in different countries based on three indicators.
What is the HDI
Human development index, used to rank standard of living in it’s member countries
What are the three indicators used to measure standard of living?
Life expectancy, literacy rate, GDP per capita (grid domestic product)
What is literacy rate?
Percentage of a population that is able to read and write
What is GDP per capita?
Gross domestic product, total value of all goods and services produced in a country in one year, divided by the population
What are NGOs?
Non-governmental organizations, non profit groups that work independently from govt on health, environment, human rights issues
What is infrastructure?
Basic functions of a modern economy
What are the qualities of a developed country?
world’s wealthiest countries
people are well housed, healthy, good literacy
What are newly industrializing countries?
countries experiencing rapid economic & industrial growth
many switch from agricultural to industrial economies
What are HIPCs?
Heavily indebted poor countries.
At low end of UN Human Development Index, in debt to developed nations
What are MDGs?
Millennium Development Goals
List the 8 MDGs
- eliminate extreme poverty
- achieve universal primary education
- promote gender equality & empower women
- reduce child morality
- improve maternal health
- combat diseases (ex, HIV)
- ensure environmental sustainability
- develop global partnership for development
What were the MDGs supposed to be achieved?
2015
define morality
death rate
calculated by # of deaths/1000 people in a population
define globalization
spread of ideas, info, culture around world through advances in communication, technology, and travel
What are MNCs?
Multinational corporations.
Corporations that do business in more than 1 country.
What is the world bank?
international group of 5 financial institutions. provides financial and technical help to developing countries
What is the LICO (low income cut off)?
used to determine poverty in Canada defined as a household that spends more than 70% of income on food, clothing, shelter
What’s the poverty line?
minimum income required to pay for basic needs
How is poverty measured in Canada?
By the LICO system.
How is poverty measured in US?
against cost of minimum adequate diet multiplied by three