Economic Development Flashcards

Vocabulary flashcards based on lecture notes about economic development.

Infrastructure

The basic facilities within a society or country such as transport, communications, and power supplies.

Life Expectancy

The average age a person will be expected to live.

Unemployment Rate

The percentage of people without a job.

Literacy Rates

The percentage of people who can read and write.

Informal Sector

This sector contains jobs which are often unskilled and labour intensive. Workers who work in these sectors do not pay tax.

NIC (Newly Industrialised Country)

A country where the economy has grown.

Regional Social and Economic Inequalities

Differences within countries due to reasons such as infrastructure, health and social care, unemployment, and government policies.