U1: L3: Development indicators Flashcards
Define literacy rate
The % of people who can read over the age of 15
Define life expectancy
The average age someone from birth will live until
What does GDP stand for
Gross domestic product
Define GDP
The total value of goods and services
Define development indicator
An indicator which tells you how developed a country is
Define GDP per capital
Total money produced per year by a country divided equally among the population
Define adult literacy
No. Of adults who can read and write in every 10 people
What does GNI stand for?
Gross national income
What does PPP stand for?
Purchasing power parity
Define PPP
What a dollar can buy
What does HDI stand for?
Human development index
Define HDI
A special index that compares countries development
What are the 3 aspects of HDI?
. Life expectancy
. Access to education
. Standard decent life
How do you find GDP per person?
GDP ÷ Population
How does HDI change?
. COVID 19
. Climate change
. Civil wars and conflicts
A high GDP per person does not mean everyone is well off. Why (non essay form)
While a high GDP per capita can indicate a prosperous economy, it does not ensure that all individuals within that economy are benefiting equally. Factors such as income inequality, regional disparities, non-monetary considerations, cost of living, and temporary economic fluctuations all play critical roles in determining the actual well-being of the population
What are the sectors of employment?
. Primary - . Outputs: crops, minerals and seafood
. Secondary - Manufacturing
. Tertiary - Services
. Quaternary - Research + Development
What is the score for HDI?
Between 0 - 1
Define remittance
Sum of money in payment
What are the problems of GDP per person? (Non essay form)
GDP per capita does not reflect the overall quality of life, including health, education, and leisure time. Two countries can have the same GDP per capita but vastly different living standards and life satisfaction.
