Development

Question 1

Appropriate technology

Answer 1

a technology that is well suited to a country’s factors of production, refers to quantities of labour relative to qu’abrités of physical capital available as well as skill l bels needed in relation to skill levels available

Question 2

Microfinance/ microcredit

Answer 2

programs to provide credit (loans) in small amounts to people who do not ordinarily have access to credits due to lack of collateral

Question 3

Women empowerment

Answer 3

eliminating the discrimination faced by girls and women respect to access to education and healthcare in the labour market inheritance rights and rights to property, access to credit and in social and economical life with views of achieving gender inequality

Question 4

Infrastructure

Answer 4

physical capital (machine) resulting from investments, making major contributions for economic growth and development by lowering costs of production and increasing productivity

Question 5

Property rights

Answer 5

the laws and regulations that define rights to ownership use and transfer of property

Question 6

Primary commodities

Answer 6

any product that is produced in the primary sector which includes agriculture, forestry fishing extractive industries

Question 7

Tariff escalation

Answer 7

refers to the practice by developed countries of imposing higher tariffs on semi-processed products than raw material and even higher on finished products, thus discouraging LEDCs from diversifying vertically

Question 8

Informal market

Answer 8

refers to the sector of economic activity that is not legally registered or regulated

Question 9

Capital flight

Answer 9

refers to the large scale transfer of privately-owned financial capital to another country resulting from fear and uncertainty of holding domestic assets or uncertainty in the country’s currency

Question 10

Import subsidies

Answer 10

a growth and trade strategy where a country begins to manufacture simple consumer goods oriented towards the domestic market in order to promote its domestic industry as well as heavy protectionism policies (tariffs, quotas, subsidies) to protect infant industries

Question 11

Export promotion

Answer 11

a growth and trade strategy based on strong government intervention intended to promote economic growth through the expansion of exports

Question 12

Trade liberalisation

Answer 12

reduction or removal of trade barriers aiming to achieve growth of international trade based on principle of free trade

Question 13

Diversification

Answer 13

a broadening of the range of goods and services produced and exported

Question 14

Foreign direct investment

Answer 14

refers to investment by firms based in one country (home), in productive activities in another country (host)

Question 15

Foreign aid

Answer 15

refers to the transfer of funds to developing countries aimed at improving social and political conditions

Question 16

Bilateral aid

Answer 16

aid going from one donor to one LEDC recipient country

Question 17

Multilateral aid

Answer 17

aid going from donor countries to LEDCs through international organisations

Question 18

Non government organisations

Answer 18

organisations concerned with promoting objectives that are in public interest

Question 19

Humanitarian aid

Answer 19

aid extended in areas which are experiencing emergency situations due to crisis caused by wars or natural disasters and consists of donations of food, medical assistance, and emergency relief including provisions of shelters and supplies

Question 20

Development aid

Answer 20

aid extended to LEDCs for the purpose of assisting their development. consists of concessional long term loans, grants

Question 21

Project aid

Answer 21

a form of development aid for specific projects

Question 22

Programme aid

Answer 22

type of development aid in support of whole sectors or the economy eg education m, healthcare

Question 23

Multilateral development banks

Answer 23

that lend to developing countries in order to assist them in their growth and development efforts

Question 24

International monetary fund

Answer 24

that monitor the global financial system and lends to governments that are experiencing difficulties in making their international payments

Question 25

Foreign debt

Answer 25

the amount of funds that have been borrowed by the government do the private sector from foreign sources and are owed the problem of foreign debt arises mainly because government debt to foreign creditors