Unit Test 7 - Encouraging Development

Question 1

Sustainable development

Answer 1

Economic development that meets the current needs of people without making it harder for people in the future to live well

Question 2

UN Millennium Development Goals

Answer 2

8 goals created by the UN to reduce the barriers of development and improve quality of life for people in less developed countries

Question 3

UN Sustainable Development Goals

Answer 3

Goals made by the UN to create a better and more sustainable future for everyone

Question 4

What is the correlation between the status of women and development

Answer 4

• 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

Question 5

How are women affected by employment in the informal economy

Answer 5

• Lower wages
• Harassment and violence
• No benefits or insurance

Question 6

Why have women become more involved in the formal workforce?

Answer 6

Because of the presence of transnational companies an more education opportunities

Question 7

How pervasive is the gender gap?

Answer 7

Women earn 23% less than men for the same work

Question 8

How can gender equality be encouraged?

Answer 8

• Remove discriminatory laws
• Collect and maintain data on equality issues
• Educate people
• Strengthen legal protections
• Implement inclusive hiring and workplace practices

Question 9

What are microfinance programs?

Answer 9

Programs that provide small loans to entrepreneurs who not normally qualify for credit from traditional sources

Question 10

Who benefits the most from microloans?

Answer 10

• Poor women
• South Asia and South America

Question 11

What are the impacts of ecotourism?

Answer 11

• Protects local ecosystems
• Promotes environmental awareness

Question 12

Globalization

Answer 12

The process in which businesses or other organizations start operating on an international scale

Question 13

What is interdependence and how does it apply to the global economy?

Answer 13

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

Question 14

What are the benefits of globalization

Answer 14

• More/larger variety of goods and ideas
• Cheaper production/consumer costs
• Access to new markets
• Increased cooperation between countries

Question 15

What are the drawbacks to globalization?

Answer 15

• Uneven global development
• Exploitation of poor workers/countries
• Helps more powerful countries exert influence

Question 16

Complementarity

Answer 16

Tarde that occurs when parties have goods or services that the other wants

Question 17

Comparative advantage

Answer 17

The idea that a country should specialize in producing products for export that they hold an advantage in producing

Question 18

Neoliberalism

Answer 18

An economic strategy that calls for free markets, free trade, and minimal government intervention int he economy

Question 19

Trading blocs

Answer 19

Groups of countries that consent to to a common set of trade agreements

Question 20

Transnational cooperations

Answer 20

Companies tat operate in more than one country

Question 21

Newly industrialized country

Answer 21

A country whose level of economic development ranks it somewhere between developing and highly developed

Question 22

Outsourcing

Answer 22

Contracting work to non-company employees or other companies

Question 23

Offshoring

Answer 23

When companies locate production in other countries due to lower operation costs

Question 24

New International Division of Labor

Answer 24

A system of employment in the various economic sectors spread throughout the world

Question 25

Special economic zones

Answer 25

Areas which business/trade laws are different from other parts of the country

Question 26

Export processing zones

Answer 26

Space within a country where special regulations benefit foreign controlled companies

Question 27

What are the benefits of EPZs?

Answer 27

• Creates jobs
• Increased foreign direct investment
• New ideas to LDCs
• Cheaper price for consumers

Question 28

What are the drawbacks to EPZs?

Answer 28

• Lower paying jobs
• Unsafe working conditions
• Lacks environmental regulations

Question 29

Multiplier effect

Answer 29

When a change in spending or investment causes a larger change in output

Question 30

Economy of scale

Answer 30

The cost advantage experienced by a company when it increases its output

Question 31

Agglomeration

Answer 31

Spatial grouping of businesses in order to share costs

Question 32

Just in time delivery

Answer 32

Method of manufacturing industry and industrial capacity of a place

Question 33

Brownfields

Answer 33

Sites of abandoned factories that have the potential to become hazardous waste or pollutants

Question 34

Rust belt

Answer 34

The US region hit hardest by post industrialization, located in the Northeast an lands around the great lakes

Question 35

Growth poles

Answer 35

Concentration of technically advanced industries that stimulate economic development in businesses connected to them in a certain area

Question 36

Backwash effect

Answer 36

Possible downside of growth poles