Development Flashcards
GDP (gross domestic product)-
The total value of goods and services a country produces in a year. It’s often given in us$.
Traditional society-
Most people work in agriculture but produces little surplus. This is a ‘subsistence economy’.
Pre conditions for take off-
There’s a shift from farming to manufacturing. Trade increases profits, which are invested into new industries and infrastructure. Agriculture produces cash crops for sale.
Take off-
Growth is rapid and technology creates new manufacturing industries. Investment from profits from overseas.
Drive to maturity-
A period of growth. Technology used and industries produce consumer goods.
Age of high mass consumption-
A period of comfort. Consumers enjoy wide ranges of goods. Chose how to spend wealth.
Economic development-
Growth in countries that links to income, jobs and the purchasing power of the people.
Political development-
Growth in countries that links to government power, building of democracies and laws.
Social development-
Growth in countries that links to health, welfare, education and the power of women.
Poverty line-
The minimum income required to meet someone’s basic needs.
Higher income countries (HICs)-
HICs are the wealthiest countries in the world, where the GNO per head is high and most citizens have a high quality of life.
Lower income countries (LICs)-
LICs are the poorest countries in the world, where the GNI per head is very low and most citizens have a low quality of life.
Newly emerging economies (NEEs)-
NEEs are rapidly getting richer as their economy is moving from being based on primary industry to secondary industry. Quality of life for many citizens is improving.
Physical factors can affect how developed a country is.
A country is more likely to be less developed if it has…
- A poor climate
- Poor farming land
- Few raw materials
- lots of natural hazard
Historical reasons for uneven development-
- Colonialism
2. Conflict