economic development Flashcards

1
Q

circular economy

A

An approach to business management and product design that maximises the efficiency of resource use, and aims ultimately to phase out waste and pollution altogether.

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2
Q

sustainable development

A

development that meets the needs of the present without compromising the ability of future generations to meet their needs.

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3
Q

conservation

A

the efficient and non-wasteful use of natural resources.
To do this we must protect the biosphere as it provides us with loads of important environmental services

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4
Q

enviromental services

A
  • The natural world sinks vast quantities of carbon
  • Natural environments provide food and filter water
  • The oceans regulate our climate and support marine life vital to food security
  • Rainforests sink carbon, create rainfall through the biotic pump and support the largest biodiversity in the world
  • Mangrove forests protect coastlines from storms
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5
Q

microfinance

A
  • Micro-credit schemeswork on providing small loans to vulnerable people to enable them to start their own businesses
  • loan can be as low as 25$
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6
Q

fairtrade

A
  • Fair Trade- seeks to improve working conditions of farmers in LEDCs & provide reliable income.
  • They set alowest price limitthat when market prices fall below, the farmer continues to earn a secure income.
  • As market prices increase the fair trade price increases too.
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7
Q

fairtrade premium

A

This funding is spent on community development projects that the community decide themselves
in Honduras they spent it on a health centre, computer lab and soccer field.

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8
Q

development

A

The process of change which allows all the basic needs of a country or region to be met, thereby achieving greater social justice & quality of life and encouraging people to fulfil their potential.

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9
Q

what does GDP stand for

A

gross domestic product

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10
Q

what does GNP stand for

A

gross national product

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11
Q

product GDP

A

the total market value of all final goods and services produced annually in an economy

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12
Q

GNP

A

includes value of goods & services produced by nationals both inside and outside the country

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13
Q

what does GNI stand for

A

gross national income

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14
Q

GNI

A

Total value of goods & services produced within a country together with the balance of income & payments from or to other countries.

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15
Q

development gap

A

The difference between the most & least advanced countries - the HICs & LICs.

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16
Q

north - south divide

A

The socio-economic & political division between the wealthy countries of Europe and North America, Japan and Australia and the generally poorer countries of Asia, Africa, and Latin America.

17
Q

what does HDI stand for

A

human development index

18
Q

HDI

A

3 indicators 1. Longevity ( life expectancy) 2. Knowledge - adult literacy rates & enrolment rates at primary to university levels. 3. Income - GDP per capita (PPP)

19
Q

what does PPP stand for

A

purchase power parity

20
Q

PPP

A

An adjustment in gross domestic product per capita to reflect differences in the cost of living

21
Q

Multidimensional Poverty Index

A

Developed by the UN in 2010. It uses different factors to determine levels of poverty rather than just economic factors.

22
Q

life expectancy

A

the average age to which a person lives

23
Q

infant mortality

A

number of babies, per 1000 who die under the age of one year.

24
Q

child mortality

A

number of children, per 1000, who die under the age of 5 years.

25
Q

literacy rate

A

the % of adults who can read and write.

26
Q

problems with indices

A
  • Many indices are averages for the whole population of a country
  • Do not always reveal substantial inequalities between different segments of society
  • In some countries, the data used in indices could be out of date or hard to collect.
  • Some countries do not wish to have certain index data collected