The development gap Flashcards
describe the methods of classifying countries and use different development indicators
HIC definition
high income country e.g UK, Germany, USA
LIC definition
Low income country Mozambique, DRC and Ethiopia
NEE definition
Newly Emerging Economy includes Brazil, Russia, India, China and South Africa
Development definition
it measures progress within a country. The development gap refers to the differences between high income countries (HICs) and low income countries
Standard of living (SOL)
a measure of income and is normally measured with GDP/capita, an economic measure
Quality of life (QOL)
A social measure of development and refers to how happy a person is with their life
HDI
a composite indicator that looks at life expectancy, years in education and GNI per head.
GNI
Gross national income
GDP
gross demestic income
