Development Dynamics Flashcards
HIC
High Income Countries
MIC
Middle Income Countries
LIC
Low Income Countries
NIC
Newly Industrialised Countries
RIC
Recently Industrialised Countries
Development
Is a process of change that affects people’s lives. It may involve an improvement in the quality of life as perceived by the people undergoing change
GDP Per Capita (Person)
The total value of goods and services produced in a year. Dividing GDP by population give GDP per person (Capita)
GDP PPP
GDP-Purchase Power Parity- which shows what the GDP will buy in other countries (linked to exchange)
Human Development Index (HDI)
Combines wealth, health and education to show how developed a country is (0-1 the higher the better)
Poverty Line
The minimum income required to meet someone’s basic needs. ($1.25 a day)
Access to drinking water
The percentage of the population with access to water supply within a 1km
Literacy Rate
The percentage of the population aged over 15 who can read and write
Corruption Perception Index
Uses a scale from 0-10 (0 very corrupt, 10-honest) to rank how stable a government is.
Dependency Ratio
Proportion of the people below (aged 14) and above (aged over 65) the normal working age
Life expectancy
Average number of years a person can be expected to live