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Revision - The Development Gap, Indicators of Development & (Other…
Revision - The Development Gap, Indicators of Development &
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HDI
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it's a statistic used to rank countries by a level of 'human development' and separate developed (HICs), developing (NICs and BRICs) and underdeveloped (LICs) countries
the statistic is composed from 3 main statistics for Life Expectancy, Education and GNI (Gross National Income)
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'The United Nations' human development index includes information about life expectancy, literacy and educational achievements, as well as financial wealth, to give a more comprehensive view of what life is all about,'
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A method of measuring development in which GDP/capita, life expectancy and adult literacy are combined to give an overview. This combined measure of development uses economic and social indicators to produce an index figure that allows comparison between countries.
Other Definitions
Commmonwealth
The commonwealth is a voluntary association of 53 independent and equal sovereign states, which were mostly territories of the former British Empire. It is home to 2.2 billion citizens. Member states have no legal obligation to one another. Instead, they are united by language, history, culture and their shared values of democracy, human rights and the rule of law.
De-industrialisation
The decline of a country's traditional manufacturing industry due to exhaustion of raw materials, loss of markets and competition from NEEs
Development
The progress of a country in terms of economic growth, the use of technology and human welfare
Development Gap
The difference in standards of living and wellbeing between the world's richest and poorest countries (between HICs and LICs)
EU
European Union
An international organisation of 28 European countries, formed to reduce trade barriers and increase cooperation among its members. Seventeen of these countries also share the same type of money: the euro. A person who is a citizen of a European Union country can live and work in any of the other 27 member countries without needing a work permit or visa.
Fairtrade
When producers in LICs are given a better price for the goods they produce. Often this is from farm products life cocoa, coffee or cotton. The better price improves income and reduces exploitation
Globalisation
The process which has created a more connected world, with increases in the movement of goods (trade) and people (migration and tourism) worldwide.
GNI
Gross National Income
A measurement of economic activity that is calculated by dividing the gross (total) national income by the size of the population. GNI takes into account not just the value of goods and services, but also the income earned from investments overseas.
Industrial Structure
The relative proportion of the workforce employed in different sectors of the economy (primary, secondary, tertiary and quaternary).
Intermediate Technology
The simple, easily learned and maintained technology used in a range of economic activities serving local needs in LICs
International Aid
Money, goods and services given by the government of one country or a multilateral institution such as the World Bank or International Monetary Fund to help the quality of life and economy of another country
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Post-Industrial Economy
The economy of many economically developed countries where most employment is now in service industries
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