Economic Development + Economic Industry Flashcards
What does development mean
The growth or improvement of the social and economic aspects of a country
What is the GNP per capita
The sum of value added by all residents, producers and any product taxes
What is Literacy
The percentage of people who are able to read + write vs those who can’t
What is life expectancy
The average period that person may expect to live for
What is the HDI
Ranks countries for human development e.g life expectancy, education per capita etc.
What is the secondary sector
This is the manufacturing and assembly process. It involves converting raw materials into components like making plastics from oil.
What is the tertiary sector
Commercial services that support the production and distribution process
What is globalisation
Is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange
Give some causes of globalisation
Ease of transport Global brands Slave trade Empires Shipping containers
Give some pros of globalisation
Increases cultural awareness Broadens access to goods and services Information + technology spread more easily Greater trade Aid overseas
Give some cons of globalisation
Cyber crime Air-Travel pollution Spread of diseases Human trafficking Global warming Local businesses outcompeted
What is a TNC
A company that operates in more than one country to produce + sell products and services
How have TNC’s contributed to the economy of countries
Transport links bring tourism and income to new parts of the world
How have TNC’s helped socially
Internet + social media help people connect
Spreading of values
Brands influence people
What is Glocalisation
The production of a global good that is adapted to the local market
Give some advantages of using a triangular graph
Plot 3 variables
Compare them
See clusters of countries
Give some disadvantages of triangular graphs
Hard to read
Maximum of 3 variables
Percentages only
How are transport links important for Industrial location
Enables staff to easily get to work
Supplies quickly + cheaply brought in
Accessible by customers
How are raw materials important for industrial location
Closer you are, reduces cost
How is labour important for industrial location
Situated near skilled, cheap labour
Generally in Urban areas
How is water supply important for industrial location
Needed for workforce
Needed for secondary industries
36,400 litres = 1kwh electricity
How is the site important for industrial location
Flat
Adequate transport facilities
Large area needed
Give some examples of jobs in the Informal Sector
Busking Begging Fake jewellery Fruit stalls Shoe poloshing
What is the Informal Sector
Includes jobs that are not taxed or maintained by the government. It is not included in the GNP and GDP of a country. The people are usually self-employed, have irregular economies and don’t pay tax.
Give some inputs that affect the industrial location snd sitting
Labour - Where people are keen to learn and few restrictive employee laws
Land - Large flat land needed
Globalisation - Works in multiple countries so less venerable to problems (strikes)
Raw Materials - Used tot be close to steel mines to reduce transport cost but the market location is now more important.
