Development Flashcards
What is development?
It carries out the idea of economic betterment but also of greater human dignity,security,justice and equity.
MEDC
More Economically Developed Countries
LEDC
Less Economically Developed Countries
NIC
Newly Industrialized Country
What does the Brandt line do?
Divides the world in North (MEDC) and South (LEDC)
There is a development________ which is a ……
Continuum
A gradual change not a simple divide
Development is _______- it changes over time and all of the time
Dynamic
What is a development indicator?
A development indicator is something that shows how rich or poor a country is.
What does HDI stand for?
Human Development Index
What is used to measured the HDI of a country?
Health Index- Life Expectancy
Living Standard Index- GDP per Capita
Education Index- Literacy Rate
What is the difference between Quality of Life and Standard of Living?
The standard of living is based on material things and wealth whereas quality of life is based on human well-being. The standard of living is measured by economic indicators and quality of life is measured by social indicators.
What is Free Trade?
Trade between companies in developed countries and producers in poorer countries in which fair prices are paid to the producers in the poorer countries.
What is globalization?
The economic, technological and social exchange between countries.
What is free trade?
International trade left to its matured case without tariffs, quotas or other restrictions.
What affects the economic gap between MEDCs and LEDCs?(4)
- Political factors
- The natural environment
- Economic activity
- Debt
