Measures of Development Flashcards
1
Q
GDP (economic)
A
- the total value of goods and services produced by a country in a year
2
Q
GDP strengths
A
- quantitative, not opinion based, = reliable + measurable
- growth rate useful to show health of economy
- easily comparable between countries so relative performance can be assessed
3
Q
GNI (economic)
A
- GNI is the total income earned by a country’s residents (both domestically and abroad)
- GDP + net income earned abroad
4
Q
GNI strengths
A
- includes income earned both domestically and internationally
- means more comprehensive picture of a countries overall economic well being
5
Q
GDP/GNI weaknesses
A
- doesnt show social inequalities
- doesnt account for informal sector (reduces validity)
- doesn’t account for size of population
- doesn’t assess welfare of citizens, only economic growth
6
Q
GNI/GDP per capita
A
GNI/GDP divided by population of country
7
Q
per capita strengths
A
- accounts for population
- without pop, can seem like a country is more wealthy than they are
8
Q
per capita weaknesses
A
- fails to account for social ineq
- masks income ineq in a country
9
Q
Gini coefficient
A
- measures wealth ineq
0 = perfect equality, 1 = perfect inequality
10
Q
gini strengths
A
- measures income inequality which isnt shown on GDP/GNI/per capita
- v imp for social + econ wellbeing, as wealth may be concentrated in top of society
11
Q
gini weaknesses
A
- doesnt show a countries overall wealth or income
- opposite to GDP/GNI
- HIC and LIC can have same gini, so standards of living cld be v. diff but look same
12
Q
Life expectancy at birth (social)
A
how long, on avg, a newborn can expect to live, if current death rates don’t change
13
Q
LE at birth strengths
A
- shows overall health + living condition in country
- accounts for healthcare access, nutrition, sanitation, safety etc
- shows effectiveness of countries healthcare system: higher LE = better healthcare quality, access outcomes etc
14
Q
LE at birth weaknesses
A
- doesnt show quality of life: person cld have long life expectancy but live a bad life (disability)
- can be disparities from unequal access to healthcare
- doesn’t consider political state
15
Q
Infant mortality rate (social)
A
number of deaths per 1000 live births of chidren under the age of 1