UNIT 10

Question 1

Accountability

Answer 1

Refers to the obligation of individuals and organizations to take responsibility for their actions, decisions, and their impact on others.

Question 2

Asian Model

Answer 2

A term used to describe “export-led industrialization”. The Asian model is a model of economic development with a capitalist system in which governments and the biggest businesses co-operate to develop export industries. Government influences investments, provides incentives for exports, and can decide whether firms are allowed to export products.

Question 3

Authoritarian Government

Answer 3

a non-democratic governing system that features absolute rule over the population. People are prevented from choosing their government and influencing its decisions

Question 4

Dependency Theory

Answer 4

Dependency theory argues that underdevelopment results from unequal power relations between the centre (dominant capitalist countries) and the periphery (poor, dependent countries)

Question 5

Developing Countries

Answer 5

Countries that have not reached the same level of development as the richer, advanced countries.

Question 6

Development

Answer 6

A condition that involves the satisfaction of the basic needs of all of the people as well as the means for them to live fulfilling and productive lives based on the creation of a more diversified, sophisticated, and sustainable economy.

Question 7

Export Led Industrialization (ELI)

Answer 7

A model of economic development with a capitalist system in which government and the biggest businesses co-operate to develop export industries. Government influences investments, provides incentives for exports, and can decide whether firms are allowed to export products.

Question 8

Gross Domestic Product (GDP)

Answer 8

The market value of goods and services produced in a country, excluding transactions with other countries

Question 9

Human Development

Answer 9

This is a concept used by the HDI to assess and compare the overall well-being and quality of life of people in different countries. It has three core aspects. Health, education, and standard of living.

Question 10

Human Development Index (HDI)

Answer 10

An annuals index for most countries, calculated by the United Nations Development Programme and based on educational attainment, life expectancy, and per capita gross national income

Question 11

Import Substitution Industrialization

Answer 11

an economic policy aiming to promote domestic industries by reducing reliance on imported goods. Nations adopting ISI seek to stimulate economic growth by producing goods locally, protecting domestic industries through tariffs and trade barriers, and fostering self-sufficiency

Question 12

Inequality

Answer 12

Refers to unequal distribution of resources, opportunities, wealth, or privileges among individuals or groups within a society

Question 13

Global Inequality

Answer 13

Global inequality extends the concept of inequality to a global scale, considering disparities among countries and regions.

Question 14

International Financial Institution (IFI)

Answer 14

An organization that has some ability to affect the global economic system; for example, the International Monetary fund and the World Bank

Question 15

Modernization Theory

Answer 15

A development model that views the traditional values, practices, and institutions of Third World countries as the basic cause of underdevelopment. To develop, poor countries should change their cultural outlook, social structure, economic organization, and political system based on the model of advanced Western societies

Question 16

North

Answer 16

Refers to rich developed countries

Question 17

Official Development Assistance (ODA)

Answer 17

Aid to the poorer countries given by the governments of the richer countries

Question 18

Personalistic Leader

Answer 18

a political leader whose claim to rule is based on some presumed inherent personal qualities. It also signals a government in which all important decisions are made by the leader according to the leaders wishes.

Question 19

Poverty

Answer 19

A socio-economic condition characterized by a lack of essential resources, such as income, food, shelter, and access to education and healthcare. It often results in inadequate living standards, hindering individuals ability to meet their basic needs

Question 20

Absolute Poverty

Answer 20

Highlights a lack of access to basic necessities of life, human dignity, well-being- and capabilities, including food and water.

Question 21

Feminization of Poverty

Answer 21

A term that describes the interrelated factors that give rise to the fact that women, particularly in the global south, constitute the majority of the worlds poor and bear the social brunt of social deprivation and inequality.

Question 22

Global Poverty

Answer 22

Refers to the pervasive condition where a significant portion of the worlds population lacks access to basic necessities, such as foodm, clean water, and adequate shelter

Question 23

Racialization of Poverty

Answer 23

Refers to the disproportionate risk and burden of poverty borne by racial minority communities and that emphasizes the racial underpinnings of poverty on a global scale.

Question 24

Relative Poverty

Answer 24

This speaks to an unequal distribution of income within a given society. In this variant, a person may be able to purchase basic needs, but this exhausts their resources and leaves room for nothing else.

Question 25

Urbanization of Poverty

Answer 25

Refers to the unprecedented demographic growth in megacities as people flock to urban centres seeking employment and better life, but, instead, live precarious and insecure lives in sprawling, over-crowded, and often dangerous slums.

Question 26

Third World

Answer 26

Less Developed countries

Question 27

Social Capital

Answer 27

is that idea that relationships matter, and that who we know from these relationships exists as a type of currency of capital.

Question 28

Structural Adjustment Program (SAP)

Answer 28

A program administered by international financial institutions, which offers loans at very low interest rates to governments facing problems paying their debt on the condition that they adopt programs endorsed by the Washington consensus

Question 29

Tariff

Answer 29

Taxes on exports

Question 30

Washington Consenus

Answer 30

A series of policies put together by the International Monetary Fund and the World Bank that encourage developing countries to generate more revenue for debt repayment by cutting government expenditures to balance their budgets, selling off government-owned enterprises (privatization), and fully opening their countries to foreign goods and investments