economic growth and development Flashcards
what is economic growth?
an increase in the output of goods and services, or an increase in real GDP over time.
an increase in the amount of goods and services produced per head of the population over a period of time.
an increase in the production of economic goods and services, compared from one period of time to another”
what is economic development?
refers to increases in the standard of living and the wellbeing of people within an economy.
programs, policies or activities that seek to improve the economic well-being and quality of life for a community.
what are the 3 increased in economic development?
healthcare
education
income
what are the 3 economic indicators?
income indicators,
health indicators, and
education indicators.
what is gdp?
GDP per capita
An indicator of the level of income per person.
measures the “output” or total market value of goods and services produced in the domestic economy during a particular time period.
The more widely known term GDP is an estimate of the total value of all goods and services produced within a nation for a set period, usually a year.
what is gni?
GNI per capita
Is the total income earned by a country’s factors of production, no matter where the assets are located, divided by the number of people in the population
GNI is an alternative to gross domestic product (GDP) as a means of measuring and tracking a nation’s wealth and is considered a more accurate indicator for some nations.
what is the difference between gdp and gni?
Gross domestic product (GDP) is the value of the finished domestic goods and services produced within a nation’s borders. On the other hand, gross national product (GNP) is the value of all finished goods and services owned by a country’s citizens, whether or not those goods are produced in that country.
what are the 2 things to measure in an income indicator?
gdp and gni
what is life expectancy at birth?
Life expectancy at birth is a measure of the average number of years that a person may expect to live from the time they are born.
what is the infant mortality rate?
The infant mortality rate is a measure of the number of children younger than one year that die annually for every 1000 born alive.
Which is a more accurate health indicator?
Life expectancy at birth or the infant mortality rate?
Life expectancy is a convenient and important summary measure of mortality and more intuitive than mortality rates (Klenk, Rapp, Büchele, Keil, & Weiland, 2007).
Thus, life expectancy at birth as a measure of mortality is a valid and important indicator of population’s health status.
what are the 2 education indicators?
net enrollment at birth and adult literacy rate.
what is the adult literacy rate?
The adult literacy rate is measure of the percentage of population older than 15 years that is literate at a specific moment in time. A person is considered literate if they can read with basic understanding a short statement on everyday life. Therefore, it obviously depends on the level of education opportunities in each country.
what is the net enrollment at birth?
The net enrolment in primary education is the percentage of children of primary school age who are enrolled in primary school in a country.
what is the HDI?
human development index
