Economic World Flashcards
What are there global variations in?
Economic development and quality of life.
Development
The progress in economic growth, use of technology, and improving welfare that a country has made.
Countries develop as they get better both economically and socially.
Standard of living
A measure of wealth.
A high standard of living likely leads to what?
A better quality of life.
Quality of life
A concept of social, political, and spiritual freedoms.
When countries develop, the quality of life of the people there does what?
It improves.
What can quality of life not be?
Measured.
What are the economic indicators/measures of development?
GNI
GNI per Capita (per head)
What are the social indicators/measures of development? These give information about peoples’ quality of life!!
-Birth rate
-Death rate
-Infant mortality
-Life expectancy
-People per doctor
-Literacy rate
-Access to safe water
-(Fertility rate)
Positives of using ‘measures of development’.
Can compare the development of different countries.
Development gap
The difference in development between more and less developed countries.
Gross National Income (GNI)
The total value of goods and services produced by a country in a year, including from overseas. Often in US dollars.
As a country develops, this measure of wealth gets higher.
Limitations of GNI
Doesn’t tell us if individuals are rich or poor.
Usually misses out informal employment which can account for a large proportion of national income.
GNI per Capita (per head)
The GNI divided by the population of a country, giving average income. Often given in US dollars.
As a country develops, this measure of wealth gets higher.
Birth rate
The number of live births per 1000 of the population per year.
As a country develops, this measure of education gets lower.
Why is birth rate a measure of education?
The higher the birth rate, the more likely it is that girls aren’t completing education.
This is because young girls in LICs are married off to provide children, which means that they won’t finish school.
For example in Niger 1 in 8 girls finish primary education.
Why do people need lots of children in developing countries?
-High infant mortality (hence they start giving birth veeeery young)
-No contraception or education about pregnancy
Limitations of GNI per head/capita
Doesn’t show the distribution of wealth in a country as it’s only an average.
For example, the GNI per head in Qatar is as high as in some HICs but only due to a few extremely wealthy people. There is a large population of relatively poor people.
Death rate
The number of deaths per thousand of the population per year.
As a country develops, this measure of health gets lower as people (particularly women as they can now make associations)
are educated on hygiene and healthcare systems are improved.
Infant mortality rate
The number of babies who die before they are 1 year old, per thousand babies born.
As a country develops, this measure of health gets lower
People per doctor
The average number of people for each doctor.
As a country develops, this measure of health gets lower
People per doctor limitations
-Not all doctors are the same/ some may have a higher level of education than others/ be experienced in a specific field.
Literacy rate
The percentage of the adult population who can read and write.
As a country develops, this measure of education gets higher.