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19 Cards in this Set

  • Front
  • Back
  • 3rd side (hint)

What is economic growth ?

-National income - out of a country -gdp n gnp


-indictates performance $

Economic development

- improved Q.O.L


Eg heath and edu.

Human development

> people's ability to reach their true potential by creating a good environment to improve lives

4 Pillars of human development

Equity, sustainability, productivity, empowerment

2EPS

GDP vs GNP

GDP- Total value of goods+ services WITHIN a country's borders


GNP- GDP + nationals aboard (remittance)

Use of GDP and GNP

1. Measure performance of economy


2. Stats help w/ govt spending


3. Stats attract foreign investors


4. Measure how much R+R the country is receiving

Disadvantages of GDP and GNP

1. No acc. of enviro. degrad.


2. No acc. -in equality in income dis.


3. No acc - poverty levels.


4. No acc- unpaid work


5. No acc- under ground economy


Use of GDP stats

1. Note trends 1/4


2. How well is country is doing globally


3. Govt- determine policies


4. Investors

GINI COEFFICIENT

1 - high inequality


0 - low inequality


INCOME dis.

HDI

-healty


-edu


-S.O.L

HDI- monitors what?

1. Literacy rates


2. Healthcare


3. Infant mortality rates


4. Gender equality in edu

Limitations of HDI

No acc of:


-crime


racial inequality


Religious persecution


Political persecution

Uses of GINI COEFFICIENT

measures inequality


Assists policy makers


Justify to international leaders why a loan is required


Track changes in Inc. Dis

Indicators of productivity levels

1. Technology


2. Women in labour force


3. Literacy


4. Quality of goods produced

Good governance

- accountability + transparency


-protect rights of citizen


- eliminate discrimination


-uni adult suffrage

Environmental factors

Modernizing but not at the expense of the enviro

Gender empowerment measure

1. Political participation


2. Economic "


3. Power over economic resources

Sustainable development goals 2030

17

Internet penetration

Access to internet n integration of ICT


knowledge of global events


E govt services


Online shopping n classes