Economic Development Flashcards
What is Gross Domestic Product (GDP)
The total value of goods and services produced by a country in a year.
What is Gross National Product (GNP)?
This measures the total economic output of a country, including earnings from foreign investments.
What is Gross National Product per capita?
It is a countries GNP divided by its population.
What is life expectancies?
The average age in which a person lives until.
What is unemployment?
The amount of people who cannot find work.
What is access to basic services?
The availability to services, necessary for a healthy life, such as clean water.
What is infant mortality rate?
The number of babies, per 1000 live births who die under the age of 1.
What is literary rate?
The percentage of adults who can read and write.
What factors does the Physical Quality of Life Index (PQLI) include?
- Life expectancy
- Infant mortality rate
- Adult literacy rate
(%Literacy + Infant mortality + life expectancy) divided by 3
Why is aid needed?
- Large trade deficits
- To improve standard of living
- Relief in natural or human disasters
What is bilateral aid?
When a richer MEDC gives aid to a poorer LEDC
What is voluntary aid?
Voluntary agencies or NGOs raise money from the public in rich countries and send it to use on projects in poorer countries
What is multilateral aid?
Richer countries give money to international organisations who then pass on the money to poorer countries
Advantages of aid
[TO DO]
Disadvantages of aid
[TO DO]
