Economics Chapter 1 - Development

Vocabulary flashcards for Economics Chapter 1 - Development

Per capita income

The total income of the country divided by its total population.

Infant mortality rate

Indicates the number of children who die before the age of 1 year as a proportion of 1000 live children born in a year.

Per capita income

The total income of the country divided by its total population.

Infant mortality rate

Indicates the number of children who die before the age of 1 year as a proportion of 1000 live children born in a year.

Literacy rate

Measures the proportion of literate population in the age group of 7 and above.

Net attendance ratio

The total number of children of age group 14 and 15 years attending school as a percentage of children in the same age group.

Life expectancy rate

Average expected length of life of a person at birth.

Gross enrollment ratio

Enrollment ratio for primary school, secondary school, and higher education beyond secondary school.

Economic development

A process in which real per capita income is increased in the long run accompanied by reduction in poverty, unemployment, and inequality. Includes both economic growth and economic welfare.

Economic growth

A process whereby national income and per capita income of a country increases over a long period of time.

Sustainable development

Development without environmental degradation and with conservation of resources for future generations.

Two developmental goals common to all

Higher level of income and better quality of life.

Developmental goals

Goals that may be common, different, or conflicting depending on the individual or group.

World Bank classification

Classifies countries according to per capita income.

UNDP criterion for classifying countries

Uses the human development index to measure the development of countries.

Human Development Index (HDI)

Calculated on the basis of per capita income, education index, and life expectancy at birth.

Body Mass Index (BMI)

Used by nutrition scientists to find out if adults are nourished or not.

Life expectancy rate

Average expected length of life of a person at birth.

Gross enrollment ratio

Enrollment ratio for primary school, secondary school, and higher education beyond secondary school.

Economic development

A process in which real per capita income is increased in the long run accompanied by reduction in poverty, unemployment, and inequality. Includes both economic growth and economic welfare.

Economic growth

A process whereby national income and per capita income of a country increases over a long period of time.

Sustainable development

Development without environmental degradation and with conservation of resources for future generations.

Two developmental goals common to all

Higher level of income and better quality of life.

Developmental goals

Goals that may be common, different, or conflicting depending on the individual or group.

World Bank classification

Classifies countries according to per capita income.

UNDP criterion for classifying countries

Uses the human development index to measure the development of countries.

Human Development Index

Calculated on the basis of per capita income, education index, and life expectancy at birth.