Key Terms: The Changing Economic World Flashcards
All 9 cards in this deck
What do the abbreviations LIC, NEE and HIC stand for?
Low-Income Country, Newly Emerging Economy and High-Income Country.
What is meant by 'the development gap'?
The difference in standards of living and wellbeing between the world's richest and poorest countries.
What is natural increase?
The birth rate minus the death rate — population growth without counting migration.
What is intermediate technology?
Simple, low-cost technology suited to the skills, needs and wealth of local people.
e.g. a hand-operated water pumpWhat is a transnational corporation (TNC)?
A company that produces or sells goods and services in more than one country.
What is infant mortality rate?
The number of children who die before their first birthday, per 1000 live births per year.
What does HDI stand for, and which three things does it combine?
Human Development Index — it combines income (GNI per head), life expectancy and education (years of schooling).
Is birth rate an economic or a social measure of development?
Social — it shows the number of live births per 1000 people per year.
True or false? HDI is a purely economic measure of development.
False. HDI is a composite measure, combining an economic measure (GNI per head) with social measures (life expectancy and education).