L 1-7 Flashcards
How do we measure economic development and quality of life?
Economic development is measured using indicators such as GDP per capita, literacy rates, life expectancy, and the Human Development Index (HDI). Quality of life includes factors like healthcare, education, employment, and access to basic needs.
Why does economic development vary between countries?
Economic development varies due to factors like natural resources, political stability, infrastructure, education levels, and access to technology and trade.
What are the SHEEPT factors?
Social, Historical, Environmental, Economic, Political, and Technological factors impact development levels.
How does the environment affect development?
Natural disasters, climate, and resource availability can either support or hinder economic growth.
How does politics affect development?
Stable governments promote investment and infrastructure, while corruption and conflict slow development.
How does gender inequality impact development?
Limits access to education, jobs, and political participation, reducing economic growth and social progress.
Why is gender equality important for development?
Educating women and ensuring equal rights boost economic productivity, lower poverty, and improve health outcomes.
What are the four economic sectors?
Primary: Extraction of raw materials (e.g., farming, fishing).
Secondary: Manufacturing (e.g., factories, construction).
Tertiary: Services (e.g., healthcare, retail).
Quaternary: Knowledge-based (e.g., technology, research).
Why is economic development important?
Leads to higher incomes, better living standards, improved healthcare, and stronger infrastructure.
What are TNCs and why are they important?
Transnational Corporations (TNCs) operate in multiple countries, creating jobs, investment, and access to new markets.
What are the benefits and downsides of TNCs?
✅ Create jobs, improve infrastructure, bring new technology.
❌ Exploit workers, damage environments, take profits out of local economies.
What is fair trade and why is it important?
A system ensuring fair wages and working conditions for producers, helping small-scale farmers and reducing exploitation.
How does aid help countries develop?
Provides funding for healthcare, education, and infrastructure but can create dependency if not managed well.
