Economic World – Development & Global Inequality (Key Terms)
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19 Terms
Development
Improvement in quality of life (income, health, education)
Development gap
Difference between richest and poorest countries
GNI per head
The average income per person in a country per year.
HDI
Measure using income, education and life expectancy
Birth rate
Number of births per 1000 people
Death rate
Number of deaths per 1000 people
Infant mortality rate
Number of babies dying before age 1 per 1000 births
Life expectancy
Average number of years a person lives
Uneven development
Unequal distribution of wealth and quality of life
Cause of uneven development: climate
Extreme weather reduces productivity
Cause of uneven development: trade
Poor countries export cheap goods
Cause of uneven development: conflict
Damages economy and infrastructure
Poverty cycle
Low income → poor health/education → low income
Tourism advantage
Creates jobs and income
Tourism disadvantage
Economic leakage and seasonal jobs
Aid
Money or resources given to help development
Problem with aid
Corruption or misuse
Investment
Money put into businesses to create jobs
Microfinance
Small loans to start businesses