I&S Development - Study
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31 Terms
GDP
Gross Domestic Product
GNI
GDP + income from abroad
PPP
Adjusts income based on cost of living
Gini Coefficient
Measures inequality (0 = equal, 1 = unequal)
indicators
data used to measure development
Development
a continuous process of positive change, growth, or advancement in economic, social, environmental, or human capabilities
HIC
High Income Country with high stanards of living
MIC
Middle Income Country with moderate development
LIC
Low Income Country with low development levels
NIC
Newly Industrialized Country experiencing rapid growth
EE
Emerging Economy with fast economic expansion
HDI
Human Development Index - Composite index of life expectancy, education and income
Resource Curse
when natural resouces slow development due to corruption/conflict
Landlocked
no sea access - harder to trade
Means vs Goals
means = income
Goals = Guality of life
Inequality
uneven distribution of wealth or oppotunities
infrastructure
basic system like roads, schools and hospitals
standard of living
level of wealth and comfort people have
sustainability
using resources without harming the future
outliers
data points that are very different from others
trends
direction of change over time
Patterns
repeated relationship in data
Composite indicators
Indicators which contain more than one measure
Development Indicators
Economic and Social Indicators
what are economic indicators
Measure wealth and financial stability
What are social indicators
Measure quality of life, health, and education
3 multiple choice options
what is the indicator for these; life expectancy at birth, infant mortality rate, literacy rates, and school enrollment ratios
Social Indicator
3 multiple choice options
What is the indicator for these; Gross Domestic Product (GDP), Gross National Income (GNI) per capita, Purchasing Power Parity (PPP), and inflation rates.
Economic Indicators
2 multiple choice options
what does HDI measure
a long and healthy life (life expectancy), knowledge (schooling years), and a decent standard of living (GNI per capita)
what does GDP measure
the total value of all final goods and services produced within a country's borders during a specific period
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