Economic World Intro Flashcards
What is Development?
Positive change that makes things better.
What is GNI (Gross national Income)?
Total value of goods and services produced by a country, + money earned from and paid to other countries.
What is Purchasing Power parity (PPP)
PPP is taking into consideration the cost of living in a country.
What is this describing “Total value of goods and services produced by a country, + money earned from and paid to other countries.”
GNI (Gross national income)
What is this “taking into consideration the cost of living in a country.”
Purchasing power parity
What is Demographic Transition Model (DTM)
Shows changes overtime in the population of a country.
How many stages are there in Demographic transition model.
5 stages
Describe Stage 1 in Demographic transition model!
Birth rate and death rate are high. Slow Increase.
Examples of Stage 1
Few remote groups
Describe Stage 2 in Demographic transition model!
High birth rate, death rate falls rapidly; very rapid increase.
Examples of Stage 2
India
Describe Stage 3 in Demographic transition model!
Falling birth rate and death rate falls slowly;Increase slow down.
Examples of Stage 3
Brazil
Describe Stage 4 in Demographic transition model!
Birth Rate and Death Rate are low; stable
Examples of Stage 4
UK
