FINAL EXAM chapter10 Flashcards
Explain the concept of the nation state?
a system of organization defined by geography, politics, and culture. The nation is cultural identity that is shared by the people, and the state is the governing administration. A nation state must have a shared national identity, physical borders, and a single government.
Explain the concept of sovereignty?
concept that states are in complete and exclusive control of all the people and property within their territory. … Since all states are equal in this sense, one state does not have the right to interfere with the internal affairs of another state.
What is the United Nations and what international role does it play?
The UN Security Council has the primary responsibility for international peace and security. The General Assembly and the Secretary-General play major, important, and complementary roles, along with other UN offices and bodies.
Explain the Law of the Sea, and a place where it plays a role in a dispute between two countries.
The law of the sea is a body of customs, treaties, and international agreements by which governments maintain order, productivity, and peaceful relations on the sea.
What is the difference between a developed and developing country?
Developed nations are generally categorized as countries that are more industrialized and have higher per capita income levels. … Developing nations are generally categorized as countries that are less industrialized and have lower per capita income levels.
Explain the factors that are the basis for the Human Development Index (HDI)
statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development.
What are the three different sectors of an economy; provide an example of each and discuss how developed countries differ from developing countries with respect to their ratio in their respective economies?
Primary sector – extraction of raw materials – mining, fishing and agriculture.
Secondary / manufacturing sector – concerned with producing finished goods, e.g. factories making toys, cars, food, and clothes.
Service / ‘tertiary’ sector – concerned with offering intangible goods and services to consumers. This includes retail, tourism, banking, entertainment and I.T. services.
- Define the role of GNI, PPP, and GDP in measuring a country’s standard of living.
Gross Domestic Product- measures the value of the output of goods and services produced in a country in a year. GDP does not account for money that leaves and enters the country.
Gross National Income- measures the value of the output of goods and services produced in a country in a year, including money that leaves and enters the country
Purchasing Power Parity- an adjustment made to the GNI to account for differences among countries in the cost of goods
- Explain how cellphone ownership is indicative of the growth in economies in developing countries.
How is this form of technological change indicative of development?
The educational divide in smartphone ownership is much more prevalent among emerging and developing economies. … The biggest income gap is in Peru, where six-in-ten among those with higher incomes say they own a smartphone, compared with only 24% among those with lower incomes.
- there is no time, distance or place any longer limiting human communication.
- Why is access to knowledge critical to the process of development?
a. What advantages does having high levels of education or access to knowledge provide a country?
he critical source of competitive advantage is the integration of knowledge and not knowledge itself. The processes through which companies integrate knowledge are fundamental to their ability to create and sustain competitive advantage.
Understand how inequality affect the development of a country and explain what the IHDI measures.
IHDI (inequality- adjusted) –combines a country’s average achievements in health, education and income with how those achievements are distributed among country’s population by “discounting” each dimension’s average value according to its level of inequality
Use the Core/Periphery model to analyze the relationship between a developed country and a developing country?
core contries- takers
periphery countries- makers
they rely on each other but core (developed countries) exploit less developed countries
Compare and contrast the two paths of development; provide examples of each type ensuring you understand the key concepts and stages and shortcomings of each
Self-sufficiency- countries encourage domestic production of goods, discourage foreign ownership of businesses and resources, and protect their businesses from international competition
International trade- countries open themselves to foreign investment and international markets
What is the role of the World Trade Organization?
is the only international organization dealing with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible.
- Explain how foreign direct investment works and why it is necessary for economic growth?
Foreign direct investment is critical for developing and emerging market countries. Their companies need the multinationals’ funding and expertise to expand their international sales. Their countries need private investment in infrastructure, energy, and water to increase jobs and wages.
