Economic Development Flashcards
1
Q
What Is economic development?
A
Process of improving people’s economic well-being and real income increases for a population so can benefit from improved living standards
2
Q
Does growth guarantee development?
A
No e.g. corruption and war
3
Q
how many people are in absolute poverty
A
1 billion
4
Q
How many have access to clean water?
A
2.4billion
5
Q
What are the indicators of development?
A
GDP per capita, GDP per capita at PPP, HDI
6
Q
name 3 constraints of economic developments
A
factor endowment, war, natural disaster, debt, lack of infrastructure
7
Q
Name the policies for promoting economic development?
A
export promotion, filling in Saving gaps through international aid, state ownership, Washington consensus
