Unit Test 7 - Encouraging Development Flashcards
Sustainable development
Economic development that meets the current needs of people without making it harder for people in the future to live well
UN Millennium Development Goals
8 goals created by the UN to reduce the barriers of development and improve quality of life for people in less developed countries
UN Sustainable Development Goals
Goals made by the UN to create a better and more sustainable future for everyone
What is the correlation between the status of women and development
- As women gain empowerment, the economy improves
- Increased financial participation gives women more influence and ability to make decisions on their heath, decreasing birth rates and improving quality of life
How are women affected by employment in the informal economy
- Lower wages
- Harassment and violence
- No benefits or insurance
Why have women become more involved in the formal workforce?
Because of the presence of transnational companies an more education opportunities
How pervasive is the gender gap?
Women earn 23% less than men for the same work
How can gender equality be encouraged?
- Remove discriminatory laws
- Collect and maintain data on equality issues
- Educate people
- Strengthen legal protections
- Implement inclusive hiring and workplace practices
What are microfinance programs?
Programs that provide small loans to entrepreneurs who not normally qualify for credit from traditional sources
Who benefits the most from microloans?
- Poor women
- South Asia and South America
What are the impacts of ecotourism?
- Protects local ecosystems
- Promotes environmental awareness
Globalization
The process in which businesses or other organizations start operating on an international scale
What is interdependence and how does it apply to the global economy?
Interdependence is the dependence of of two or more people or things on each other. Global economies are interdependent, which has been demonstrated by financial crises, international lending agencies, and development strategies
What are the benefits of globalization
- More/larger variety of goods and ideas
- Cheaper production/consumer costs
- Access to new markets
- Increased cooperation between countries
What are the drawbacks to globalization?
- Uneven global development
- Exploitation of poor workers/countries
- Helps more powerful countries exert influence
Complementarity
Tarde that occurs when parties have goods or services that the other wants
Comparative advantage
The idea that a country should specialize in producing products for export that they hold an advantage in producing
Neoliberalism
An economic strategy that calls for free markets, free trade, and minimal government intervention int he economy
Trading blocs
Groups of countries that consent to to a common set of trade agreements
Transnational cooperations
Companies tat operate in more than one country
Newly industrialized country
A country whose level of economic development ranks it somewhere between developing and highly developed
Outsourcing
Contracting work to non-company employees or other companies
Offshoring
When companies locate production in other countries due to lower operation costs
New International Division of Labor
A system of employment in the various economic sectors spread throughout the world
Special economic zones
Areas which business/trade laws are different from other parts of the country
Export processing zones
Space within a country where special regulations benefit foreign controlled companies
What are the benefits of EPZs?
- Creates jobs
- Increased foreign direct investment
- New ideas to LDCs
- Cheaper price for consumers
What are the drawbacks to EPZs?
- Lower paying jobs
- Unsafe working conditions
- Lacks environmental regulations
Multiplier effect
When a change in spending or investment causes a larger change in output
Economy of scale
The cost advantage experienced by a company when it increases its output
Agglomeration
Spatial grouping of businesses in order to share costs
Just in time delivery
Method of manufacturing industry and industrial capacity of a place
Brownfields
Sites of abandoned factories that have the potential to become hazardous waste or pollutants
Rust belt
The US region hit hardest by post industrialization, located in the Northeast an lands around the great lakes
Growth poles
Concentration of technically advanced industries that stimulate economic development in businesses connected to them in a certain area
Backwash effect
Possible downside of growth poles
