Economic Development Flashcards
What is absolute poverty?
a condition where people’s income is too low to enable them to meet their basic needs
What is relative poverty?
a condition where people are poor in comparison to others in the country. Their income is too
low to enable them to enjoy the average standard of living in their country
What are the components of the HDI?
Lige expectancy
Average years of schooling
Expected years of schooling
GNI per head which is gross national income
Disadvantages and advantages of using Real GDP per head as a measure of living standards.
Disadvantages and advantages of using the HDI as a measure of living standards.
Differences in living standards and income distribution WITHIN countries
Differences in living standards and income distribution BETWEEN countries
Explain the causes of poverty.
Unemployment, low wages, illness and age.
What is economic development?
It is the sustainable increase in living standards for a country, typically characterised by increases in life span, education levels, & income
What are the factors that affect population?
Birth rate
Death rate
Net migration
Immigration
Emigration
