GCSE 2.B - The Changing Economic World Flashcards
What is Development?
The progress/improvement a country has made in terms of economic growth, use of technology, and human welfare. Quality of life improves.
What 4 factors affect development?
Environmental, Economic, Social and Political
What are the 2 main ways to mesure development?
GNI and HDI
What is GNI?
Gross National Income
The total value of goods and services produced by a country in a year, plus extra money earned from, and paid to other countries. GNI per head is this divided by the population of a country
Economic Indicator
What is HDI?
Human Development Index
- life expectancy at birth
- Number of years of education
- GNI per head
- Value between 0 and 1
Social Mesure
What does the demographic transition model show?
Changes overtime in the population of a country
- Birth rate
- Death rate
- Overall population
What is the gap between birth rate and death rate called?
Natural Change
(increase or decrease)
What do population pyramids show?
The structure (age distribution) of a population.
What are the 3 main causes of Uneven development?
Physical, historical and Economic causes
How does uneven Development impact people?
- Disparities in wealth and health
- International migration
How can the development gap be reduced?
- Investment
- Industrial development and tourism
- Aid
- Using intermediate technology
- Fairtrade
- Debt relief
- Microfinance loans.
Regional Importance of nigeria
Fast growing economy in Africa - Highest GDP and 3rd largest maufacturing sector
Largest population - of any African country with more than 206 people,
Tropical climate creates highest farm output in Africa. 35% of the Population are employed in agriculture.
Diverse economy - Literacy, financial services, telecommunications and media
Global importance of Nigeria
Nigeria’s GDP - was $440 billion and GDP pp $2085 in 2021
One of the world’s biggest oil exporters - (Africa’s biggest oil exporter) Supplies 2.2 percent of the world’s oil
Music industry - worth $73 million in 2021
Film industry - “nollywood” is second largest film industry
Politically- 5th Major contributor to UN peecekeeping missions
How have Nigeria’s sources of income changed?
traditionally - Primary Agricultural products
1950s the discovery of oil in the Niger Delta, led to economic change and a transition from an LIC to an NEE
Oil now accounts for 90% of it export earnings
Nigerias current industrial structure
- Employment in agriculture declining but 22% of Nigeria’s GDP due to machinery
- 27% of GDP is from the Industrial sector
- Rapid growth Of service sector, 50% of countrys GDP
- growing manufacturing sector
Nigeria’s economy is becoming more balanced with a shift from primary employment to growth in secondary and tertiary industries
Why is Nigeria’s economy developing?
Growth in manufactoring sector
-> Accounts for 10% of Nigeria’s GDP
Foods, textiles, leather goods, soaps and detergents
This leads to growth economically:
- Regular paid work provides a secure income
- More employment
- Revenue from taxes increase: providing healthcare, education and infrastructure
- Thriving industrial sector attracts foreign investment
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How is manufacturing affecting Nigeria’s economic development?
- increase in regular paid work - secure income
- Stimulating links between companies
- Employment increase
- Foriegn investment
What is a TNC?
A TransNational Corporation is a lage company that operates in several countries
What do TNCs take advantage of in foreign countries?
- Tax incentives
- Laxer ebvironmental laws
- Acess to wider market
- Cheaper labor
TNC advantages for Nigeria
- Employment and development of new skills
- More money spent in the economy
- Investment
- Local providers benefit
- Valuable export revenues
TNC disadvantages for Nigeria
- poor pay and work conditions
- Management jobs often go the foreign employees
- Much of the profit goes abroad
Nigeria’s Political links
Till 1960 it was part of the british empire
Current part of commonwealth and leading member of African Political and economic groups as well as international orgs like the UN
Nigeria’s Global trading relationships
major global trading nation - major exports are crude, refined petroleum
Growing import of telephones- emergin middle class
WHat isa
WHat is a social advantage of shell?
Unilever promotes
healthcare, education
and water supply as part
of its social
responsibility
programme