economic development

Question 1

circular economy

Answer 1

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.

Question 2

sustainable development

Answer 2

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

Question 3

conservation

Answer 3

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

Question 4

enviromental services

Answer 4

• 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

Question 5

microfinance

Answer 5

• 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$

Question 6

fairtrade

Answer 6

• 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.

Question 7

fairtrade premium

Answer 7

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.

Question 8

development

Answer 8

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.

Question 9

what does GDP stand for

Answer 9

gross domestic product

Question 10

what does GNP stand for

Answer 10

gross national product

Question 11

product GDP

Answer 11

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

Question 12

GNP

Answer 12

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

Question 13

what does GNI stand for

Answer 13

gross national income

Question 14

GNI

Answer 14

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

Question 15

development gap

Answer 15

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

Question 16

north - south divide

Answer 16

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.

Question 17

what does HDI stand for

Answer 17

human development index

Question 18

HDI

Answer 18

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

Question 19

what does PPP stand for

Answer 19

purchase power parity

Question 20

PPP

Answer 20

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

Question 21

Multidimensional Poverty Index

Answer 21

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

Question 22

life expectancy

Answer 22

the average age to which a person lives

Question 23

infant mortality

Answer 23

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

Question 24

child mortality

Answer 24

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

Question 25

literacy rate

Answer 25

the % of adults who can read and write.

Question 26

problems with indices

Answer 26

• 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