Development Gap

Question 1

What is the ‘development gap’?

Answer 1

The widening difference in the level of wealth and development between the richest and the poorest countries.

This gap highlights the disparity in economic growth resulting from globalization.

Question 2

Which group has seen significant wealth growth according to Oxfam?

Answer 2

The richest 1% of the world.

This indicates a dramatic increase in inequality.

Question 3

How many people live on less than $1.25 per day?

Answer 3

1 billion people.

This statistic reflects the issue of absolute poverty.

Question 4

What might be a reason for the trend in the development gap?

Answer 4

Unfair trade rules.

Other factors may include debt burdens and global wealth distribution issues.

Question 5

What is the Gini coefficient used for?

Answer 5

To measure income inequality within a country.

A lower Gini coefficient indicates more equal income distribution.

Question 6

What does GDP stand for?

Answer 6

Gross Domestic Product.

GDP measures the total economic output of a country.

Question 7

What does HDI stand for?

Answer 7

Human Development Index.

HDI assesses the social and economic development levels of countries.

Question 8

What does GNI stand for?

Answer 8

Gross National Income.

GNI includes all income earned by residents of a country, regardless of where it is produced.

Question 9

What is PPP an acronym for?

Answer 9

Purchasing Power Parity.

PPP is a method used to determine the relative value of currencies.

Question 10

Fill in the blank: The richest countries have seen recent economic growth from _______.

Answer 10

globalisation.

Question 11

Which region had the highest GDP per capita in 2014 according to the data?

Answer 11

Western Europe.

The historical data shows a significant economic advantage for this region.

Question 12

True or False: The development gap has decreased in recent years.

Answer 12

False.

The gap has widened, indicating increasing inequality.

Question 13

What does the term ‘absolute poverty’ refer to?

Answer 13

Living on less than $1.25 per day.

This is a critical measure of extreme poverty.

Question 14

List three composite measures of development.

Answer 14

• GDP
• HDI
• GNI

These measures provide a broader understanding of a country’s development status.

Question 15

What trend is observed in GDP per capita from 1820 to 2014?

Answer 15

An overall increase in GDP per capita across various regions.

This trend illustrates economic growth over time.

Question 16

Fill in the blank: The _______ gap is a significant issue in global economics.

Answer 16

development.