General

Question 1

Whats GDP?

Answer 1

total value of all finished goods and services produced by a country in one year

Question 2

Whats GNP?

Answer 2

same as GDP plus all net income earned by the country and its population from overseas sources

Question 3

What are the 3 variables which help measure the HDI?

Answer 3

life expectancy, educational attainment and GDP per capita PPP

Question 4

What is the development continuum?

Answer 4

a linear scale showing the path to development from LDCs to MEDCs

Question 5

What are LDCs?

Answer 5

countries with very low living standards, low life expectancy, high infant mortality, low levels of education etc.

Question 6

What are developing countries?

Answer 6

countries at a lower stage of developement

Question 7

What is an example of a central planned economy?

Answer 7

North Korea (communist country)

Question 8

What are oil-rich countries?

Answer 8

high GNP per head, without oil these countries would probably fall into the developing group e.g. Saudi Arabia

Question 9

What are NICs?

Answer 9

countries that have begun to develop through industrialisation in the last 40years

Question 10

What are RICs?

Answer 10

countries that have just started the NIC process

Question 11

What are developed countries?

Answer 11

highly developed countries whose populations enjoy high living standards

Question 12

What is the North-South divide?

Answer 12

imagined line which separates richer countries of the north to the poorer one of the south, proposed by Willy Brandt in 1980

Question 13

What is the development gap?

Answer 13

difference in affluence between richer and poorer countries