Growing Economies
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15 Terms
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
