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Description
Flashcards by Charlotte Gray5800, updated more than 1 year ago
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Created by Charlotte Gray5800
over 10 years ago
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| Question | Answer |
| GDP Gross domestic Product | the total amount of goods produced by a country across the world |
| GNP | The total value of goods produced in one country by that country |
| HDI human development index | Measured using 3 statistics: Life Expectancy Literacy Rate Standard of living |
| MDC's | most well developed countries e.g. US |
| Developing countries | ones undergoing development- e.g. Malaysia |
| LDC's | Least developed countries- e.g. Ethiopia |
| NIC's | Newly industrialized countries- have just finished development in the past 10 years- e.g China |
| RIC's | Recently industrialized countries- further behind than NIC's- e.g. Dubai |
| Centrally planned economies | The few remaining communist countries- e.g. North Korea |
| Oil Rich countries | Saudi Arabia |
| Globalization | The increased inter connection in the worlds economic, cultural and political systems. |
| Global Shift | Manufacturing gone from developed countries to lower wage economies |
| Asian Tigers | Taiwan, South Korea, Hong Kong and Singapore |
| Emerging BRIC Economies | Brazil, Russia, India & China |
| NIC Case study | China |
| Case study for a country in a low level of development | Bangladesh |
| Grameen Bank | A micro finance organisation and community development bank started in Bangladesh that makes small loans to poor |
| Why are trade blocks made? | To further socio economic development To increase alliances and trade To allow free movement To prevent war |
| Free trade areas | Tariffs and quotas are reduced on goods between members and restrictions are put in place for goods coming in to the area e.g. NAFTA |
| Customs Unions- | Tariff on imports from the outside the group e.g. Mercosur |
| Common Markets- | like customs unions but with grater freedom of movement and labor and capital |
| TNC's | Transnational Corporations Companies that operate in two or more countries |
| Service Sector- | Economic activity that does not produce goods but provides services |
| Offshore Outsourcing | the practice of hiring an external organisation to perform some business functions in a country other than the one where the products or services are developed or manufactured |
| TNC case study | Infosys- Bangalore |
| Bilateral Aid- | From government to government |
| Multilateral Aid- | Collective governments donate to an organisation who then distributes it to suffering countries |
| Voluntary Aid- | small NGOs send workers to help |
| Ways aid can be delivered Tied aid | Limit the power of nations and may eventually cause resentment |
| Ways aid can be delivered Short term aid | Following an emergency- e.g. earthquake Rescue operations |
| Ways aid can be delivered Long term development projects | improving food availability and farming methods |
| Ways aid can be delivered Top down aid | 'throwing' money at a country allowing them to get on with it |
| Ways aid can be delivered Bottom up | Most helpful to the community- small scale |
| RIC case study | Dubai |
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