Growing Economies

What is a growing economy?

Growing economic power of a country

Does a growing economy have large or small GDP growth?

Large

What are the factors of a growing economy?

• Poor infrastructure

• High poverty

Does a developed economy have large or small economic growth?

Small

What are the factors of a developed economy?

• Good infrastructure

• Lower poverty

What is GDP per capita?

Economic output per person

What is the formula for GDP per capita?

total GDP/population

What does GDP per capita not account for?

Inequality

How is health an indicator of economic growth?

Workforce productivity

What does high GDP per capita link to?

Higher standard of living

How does high literacy rates indicate a growing economy

Highly skilled workforce

What does HDI stand for?

Human Development Index

What are the 3 factors that the HDI measures?

• Health

• Education

• Standard of living

What are the scores a country can get in the HDI?

0 (lowest) - 1 (highest)

What does HDI look to conclude?

Economic development within the country