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The Changing Economic World - Coggle Diagram
The Changing Economic World
What is Development
Ecomonic - This is progress in economic growth through levels of industrialisation and use of technology.
Social - This is an improvement in people's standard of living. For example, clean water and electricity.
Environmental - This involves advances in the management and protection of the environment.
Measuring development
Mixed indicators
HDI - A number that uses life expectancy, education level and income per person.
Social indicators examples
Life expectancy - The average lifespan of someone born in that country.
Literacy rate - The percentage of population over the age of 15 who can read and write.
Infant mortality - The number of children who die before reaching 1 per 1000 babies born.
Economic indicators examples
GNI per capita - Average of GNI per person, per year in USD.
GDP per capita - The total value of goods and services produced per person per year.
Employment type - The proportion of the population working in primary, secondary, tertiary and quaternary sectors.
Variations in the level of development
LICs - Poorest countries in the world. GNI per capita is low.
NEEs - These countries are getting richer as their economy is prgoressing
HICs - These countries are wealthy with a high GNI per capita and standards of living.
Uneven Development
Physical Factors
Natural Resources
Natural Hazards
Climate
Location/Terrain
Human Factors
Aid
Trade
Education
Health
Politics
History
Consequences of Uneven Development
Wealth
Higher income than less developed countries
Health
Better healthcare means that people in more developed countries live longer
Migration
People will move to seek better opportunities
Reducing the development gap
Microfinance Loans
Aid
Foreign Investment
Debt Releif
Fair Trade
Appropriate technology
Rwanda
Landlocked country in East Africa
Rwanda holidays are considered high end - visit gorillas
Tourism help develop Rwanda's economy by employing lots of local people
Multiplier effect - income generates benefits in lots of different areas.
Nigeria
Nigeria is located in North-West Africa
World's 21st largest economy