Development Gap Flashcards
Trade
The exchange of good and services between countries
Primary Products
products which are produced without manufacturing (e.g.fruit and metal ores)
Secondary Products
Goods which require processing (e.g. cars or phones)
Visible Products
The trade of actual things e.g. cars
invisible Products
The trade of services and intellectual property rather than goods
Quality of life
an average of 3 social indicators: literacy rate, life expectancy and infant mortality (happiness and opportunity)
Standard of living
the economic level of your life
HDI
Human Development Index is a number that is calculated using life expectancy literacy rate education level income per head
GDP
Gross Domestic Product is the total value of goods and services a country produces in a year.
GNI/GNP
Gross National Income/ Gross National Product is the total value of goods and services people of that nationality produce a year. ( GNP+ money from people living abroad)
Trade Block
a type of intergovernmental agreement where regional barriers of trade are reduced or eliminated among the participating states
Fairtrade
Fairtrade provides better prices for farmers and improved working conditions in the developing world
Aid to the top
money is given to governments and used by wealthy workers such as engineers and planners to increase exports
Aid to the bottom
Aid is sent directly to the poorest people, increasing standard of living
Bilateral aid
when one country donates money or resources to another but with conditions attached, the conditions are normally in the MEDCs favour
Multilateral aid
governments give money to international agencies such as the world bank which decide how the money is spent
Emergency aid
given after sudden disasters
development aid
involves providing local communities with education and skills for sustainable development
Charitable (NGO) aid
based and funded in industrialised countries, money is raised through public appeals, donation and charity shops. They work closely with the community allowing aid to be closely targeted on local need.
Economic core
the wealthiest countries with the most advanced industry, services and communications
Economic periphery
the poorer countries of a trade block
What is economic development?
a measure of a countries wealth and how its generated
What is human development?
measures the access the population has to wealth, jobs, education, leisure, health, safety, nutrition