Economic change in the world Flashcards
What is economic development
Progress in economic growth through levels of industrialization and use of technology
what is social development
This is an improvement in peoples standard of living for example, clean water and electricity
What is environmental development
This involves advances in the management and protection of the environment
Employment Type
The proportion of the population in primary, secondary, tertiary and quaternary industries
GDP per capita
This is the total value of goods and services produced in a country per person, per year.
Gross National Income per capita
An average of gross national income per person, per year in US dollars
Infant Mortality
The number of children who die before reaching 1 per 1000 babies born
Literacy Rate
The percentage of population over the age of 15 who can read and write
Life expectancy
The average lifespan of someone born in that country.
Human Development Index
A number that uses life expectancy, education level and income per person
LIC
Poorest countries in the world. GNI per capita is low and most citizens have a low standard of living
NEE
These countries are getting richer as their economy is progressing from the primary industry to the secondary industry. Greater exports leads to better wages.
HIC
These countries are wealthy with a high GNI per capita and standards of living. These countries can spend money on services.
Natural resources
.fuel sources such as oil
.Minerals and metals for fuel
.Availability for timber
.Access to safe water
Natural Hazards
.Risk of tectonic hazards
.Benefits from volcanic material and floodwater
.Frequent hazards undermines redevelopment
Climate
.Reliability of rainfall to benefit farming
.Extreme climates limit industry and affects health
.Climate can attract tourists
Location/terrain
.Landlocked countries may find trade difficulties
. Mountainous terrain makes farming difficult
.Scenery attracts tourists
Aid
.Aid can help some countries develop key projects for infrastructure faster
.Aid can improve services such as schools, hospitals and roads.
.Too much reliance on aid might stop other trade links becoming established
Education
.Education creates a skilled workforce meaning more goods and services are produced
.Educated people earn more money meaning they also pay more taxes. This money can help develop the country in the future
Politics
corruption in local and national government can effect the country’s ability to trade.
.Ability of the country to invest into services and infrastructure
Trade
Countries that export more that they import have a trade surplus. This can improve national economy.
Having good trade relationships
.Trading goods and services is more profitable than raw materials
Health
Lack of clean water and poor healthcare means a large number of people suffer from diseases
.People who are ill cannot work so there is little contribution to the economy
.More money on healthcare means less spent on development