Development Geog EQ1 Flashcards
Define development
developmenr can refer to the process aimed at achieving economic growth and as a result, a conducive environment for individuals to dnjoy a decent standard of living and quality of life
define economic growth
Economic growth refers to the increase in a country’s wealth over time. Such changes are usually measured in percentages. It has been widely seen as a good indicator of the health of a country’s economy and whether development is taking place.
define standard of living
Standard of living refers to the goods and services available to people in the environment they live in. Some examples include access to electricity, clean water supply, good healthcare services and facilities and efficient and affordable public and private transport.
define quality of life
Quality of life refers to the well-being of the people. It is dependent on factors such as political and religious freedom, environmental health and happiness, which are difficult to measure.
HIC and LIC stand for?
High income countries
low income countries
countries w what properties are knows as HIC?
countries that have high wealth and incomes, have a highly developed economy, and whose people
enjoy a high standard of living and quality of life,
countries w what properties are knows as LIC?
countries w what properties are knows as LIC?
give me the types of indicators that can help determine aspects of developnent
economic
social: health, education
Composit
Others
economic indicators
Gross National Income per capita, Gross Domestic Prodcut per capita
Social education indicators
exepcted years of schooling, mean years of school, adult literacy rate
Composite
human development index (HDI)
Social health indicators
life expectancy at brth, infant mortality rate, water supply and sanitation
Others
happiness, political freedom
WHAT is gross national income (GNI) an indicator of?
access a country’s wealth
GNI FOrmula
(total value of goods and services produced by country/year + income received from overseas sources) - payment to overseas recipients
What and why is gni adjusted to reflect?
Given that the cost of living between countries is often different, GNIs are also adjusted to reflect the purchasing power of the population.
_indicator + _indicator = _indicator
economic + social = composite
the GNI value is adjusted using the _____(1)_____ calulated by the ___(2)____
- purchasing power parity rate
- The Organisation for Economic Co-operation and Dveelopment (OECD)
World bank catrgorises countries based on their per capita income levels:
LIC:
lower middle
upper middle
HIC
$1,085 or less
between $1086 and $4255
$4256 and $13205
$13205 or more
National income per capita is usefule for 3 reasons:
Hint: Criminal Investigation Scene
- Comparing the wealth of countries
● Identification of countries that require aid.
● Showing the state of a country’s economy and provision of services.
Limitations of national income/capita
[3 limitatiuons]
- it does not show differences between individuals or regions. Despite ahigh GNI per capita, the population may not be able to afford essential goods and services.
- do not take into account informal economic activities (not regulated and not taxed by the government). Many in LICs tend to be involved in
informal employment, and the incomes from these are not considered. - Other aspects of development are not considered
- national income per capita does not show differences between individuals or regions. Despite ahigh GNI per capita, the population may not be able to afford essential goods and services.
example
○ Eg. in 2016, the USA had GNI per capita of US$57,000, but 1.2% of its population lived below the international poverty line of US$1.90/day.
national income per capita do not take into account informal economic activities (not regulated and not taxed by the government). Many in LICs tend to be involved in
informal employment, and the incomes from these are not considered.
example
The regions with the highest share of informality during 2010-17 are sub-Saharan Africa and Latin America and the Caribbean-both at 34% of GDP.
Other aspects of development are not considered
example
Social and environmental costs brought about by economic development, which can lower
standard of living and quality of life.