Economic World (FLASHCARDS)

0.0(0)
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/52

flashcard set

Earn XP

Description and Tags

8th

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

53 Terms

1
New cards

GNI

Gross National Income - A measurement of economic activity that takes into account the total income earned by a nation's people and businesses, including earnings made overseas.

2
New cards

GDP

Gross Domestic Product - A standard measure of the value added through the production of goods and services by a country during a certain period.

3
New cards

Birth Rate

The number of births per 1000 people of the total population in a year.

4
New cards

Death Rate

The number of deaths per 1000 people of the total population in a year.

5
New cards

Life Expectancy

The average number of years a person is expected to live.

6
New cards

Birth Rate Indicator (pros)

A clear indicator that can be used to predict future situations and plan accordingly.

7
New cards

Birth Rate Indicator (cons)

Can be affected by population policies and figures in low-income countries may not be accurate.

8
New cards

Death Rate Indicator (pros)

Indicates the level of healthcare provision and is an easy-to-use indicator.

9
New cards

Death Rate Indicator (cons)

Doesn't provide information on the reasons for a high death rate and can be difficult to obtain accurate figures from low-income countries.

10
New cards

GNI per Head Indicator (pros)

Useful and available for calculation, correlates with other development indicators.

11
New cards

GNI per Head Indicator (cons)

Can hide inequalities as it doesn't show the distribution of wealth and can be underestimated in low-income countries.

12
New cards

Infant Mortality Indicator (pros)

Indicates the quality of healthcare and water quality, easy to understand.

13
New cards

Infant Mortality Indicator (cons)

Difficult to obtain accurate figures as some births are not registered and infant mortality may not be disclosed.

14
New cards

Literacy Rate Indicator (pros)

Indicates the amount of education available and highlights children who cannot attend school.

15
New cards

Literacy Rate Indicator (cons)

Doesn't consider other valuable skills and when used alone, doesn't provide information on the availability of schools.

16
New cards

Infant Mortality Rate

The average number of deaths of infants under 1 year of age, per 1000 live births, per year.

17
New cards

TNC

Trans National Corporation - A company that has operations in more than one country.

18
New cards

HDI

Human Development Index - A measure of development that combines GDP per capita, life expectancy, and adult literacy rate to provide an overview for comparing different countries.

19
New cards

DTM

Demographic Transition Model - A model that shows the changes in birth rate, death rate, and total population of a country over time.

20
New cards

Development Gap (Social factors)

Factors such as poor education and lack of access to health and education that contribute to the development gap.

21
New cards

Development Gap (Physical factors)

Factors such as climate and foreign diseases that can hinder development in low-income countries.

22
New cards

Development Gap (Political Instability)

The impact of political stability on development, with better stability leading to faster development.

23
New cards

Development Gap (Natural Hazards)

The impact of natural hazards on development, including mass death and destruction of infrastructure.

24
New cards

Development Gap (Economic factors)

Factors such as limited access to healthcare and education due to poverty and debt that contribute to the development gap.

25
New cards

Reducing Development Gap Strategies (Aid)

Providing money or resources from one country to another to fund development projects.

26
New cards

Reducing Development Gap Strategies (Debt Relief)

Cancelling or lowering the interest rates on a country's debt to free up funds for development.

27
New cards

Reducing Development Gap Strategies (Microfinance loans)

Providing small loans to individuals in low-income countries who may not have access to traditional banks.

28
New cards

Reducing Development Gap Strategies (Investment)

TNCs investing in other countries, known as foreign direct investment, to promote development.

29
New cards

Reducing Development Gap Strategies (Industrial Development)

Encouraging the transition from primary industries to manufacturing to improve the economy.

30
New cards

Reducing Development Gap Strategies (Intermediate Technology)

Implementing affordable and sustainable technology that can be owned and maintained by the community.

31
New cards

Reducing Development Gap Strategies (Fairtrade)

Ensuring farmers in low-income countries receive fair prices for their goods, promoting economic stability.

32
New cards

Reducing Development Gap Strategies (Tourism)

Promoting tourism to generate income and invest in local education, healthcare, and infrastructure.

33
New cards

Uneven Development

The disparities in wealth and development between different countries and regions.

34
New cards

Bali Tourism (pros)

Tourism contributes to the local economy, creates jobs, and promotes cultural exchange and environmental awareness.

35
New cards

Bali Tourism (cons)

Negative impacts include rising house prices and prioritization of tourist projects over local development.

36
New cards

Industrial Structure

The relative proportion of the workforce employed in different sectors of the economy, including primary, secondary, tertiary, and quaternary industries.

37
New cards

Primary Industries

Involve gathering raw materials from the earth.

38
New cards

Secondary Industries

Involve processing raw materials into finished products in factories.

39
New cards

Tertiary

40
New cards

Aid

Assistance provided to Nigeria to address their malaria problem, including the distribution of insecticidal nets and raising awareness about treatment and prevention.

41
New cards

Malaria

A treatable disease that Nigeria struggles with due to underdeveloped medicine and lack of access to basic items such as nets.

42
New cards

UKaid

Assistance provided by the UK's Department for International Development to Nigeria, including the distribution of insecticidal nets and support for the National Malaria Programme.

43
New cards

PDA (Pattern, Data, Anomalies)

A framework used to analyze data, including identifying patterns, examining data, and identifying anomalies.

44
New cards

Political Context (Nigeria)

Nigeria's active involvement in the Economic Community of West African States (ECOWAS) and increased engagement in regional affairs.

45
New cards

Social Context

Key social indicators in Nigeria, including an adult literacy rate of 59.6% and 0.41 physicians per 1000 people.

46
New cards

Cultural Context

Examples of ethnic societies coexisting in Nigeria, such as Hausa Fulani, Yoruba, and Igbo.

47
New cards

Environmental Context

Nigeria's geographical features, with the north being savannah/grassland and the south being grassland/rainforest.

48
New cards

Economic Development

The process of economic growth and improvement in Nigeria, leading to increased adult literacy rates, life expectancy, and access to funding.

49
New cards

Oil Spills

Environmental consequences of economic development, including oil spills that can harm local communities and ecosystems.

50
New cards

UN (United Nations)

Classification of countries into First, Second, and Third World based on their economic and political systems during the Cold War era.

51
New cards

World Bank

Classification of countries into Low-Income Countries (LICs), Middle-Income Countries (MICs), and High-Income Countries (HICs) based on their economic development and income levels.

52
New cards

Brandt

The north/south divide, a classification of countries into wealthy and developed countries (the north) and poorer developing countries (the south) based on a report by Brandt in 1971.

53
New cards

Five-fold Proposal

A new way of classifying countries based on their development, including rich industrializing countries, oil-exporting countries, new industrializing countries, former centrally planned economies, and heavily indebted poor countries.