| Why can looking at Development help give a Greater Picture on Standards of Living | -Growth and Unemployment don't tell the Full Story, and it's better to see the Economic Development
-This means finding the Level of Social and Human welfare, which is seen as the Quality of Life
-Economists need More Indicators therefore than just Economic Growth, Inflation and more. This becomes evident when seeing the Difference between the UK and Niger. A Rich Developed Nations vs A Poor Developed Nation |
| What does the HDI Include and why is it Globally Used? | -The Human Development Index was Developed by the UN to measure and Rank Nations Level of Social and Economic Developments
-HDI includes Health (Life Expectancy) Education (Average and Expected years in School) and Standard of Living (Real GNI per Capita, using PPP)
-These are Used as its pretty Standard across the Globe and is Easy to Find |
| How can the HDI be used? | -Measure Changes in Development Levels over time in a Nation
-Compare levels of Development between Nations and Ranked
-As an Index with a Range between 1 and 0.
-Above 0.8, it is High Level of Human Development. 0.8-0.5 shows Medium Level of Human Development and Below 0.5 is Low
-The UK sits at 0.94 |
| What are the Critics of the HDI? | -Long Life Expectancy ISN'T the same as a High Quality of Life. They may have to work Long Hours in Poor Working Conditions, or have Little Freedom. Qatar!
-Measuring Average Years spent in a Classroom completely Misses out the Quality of Teaching, or how Good People Learn what they're Taught
-GNI-Per Capita allows for Inaccurate Comparisons (Hidden Economy for Less Developed, Inequality) |
| Why can seeing % of Men in Agriculture be a Way of Seeing Development? | -Agricultural Work is Hard, and often leads to Little Compensation
-Economic Output is low too, Little Value Added onto it?
-As Nations develop, they use more Machinery and thus less Workers are on the Fields
-Higher % in Agriculture often means there is Low Levels of Economic Development |
| Why can seeing the Number of Phones per Thousand of the Population be seen as Measuring Development? | -Phones involves Communication and Trading, which can allow for Greater Economic Development
-Furthermore Phones Indicates that Wages are High Enough to allow the Purchasing of them |
| What other Indicators are Crucial for Assessing a Nation's Development? | -Level of Disease and Malnutrition
-Newspapers bought per Thousand of the Population
-Energy Consumption per Head
-Political and Social Freedoms
-Environmental Impact + Sustainability
-Clean Water |
| What is the Structure of the Economy? | -There are 3 Sectors at play here
-Primary (Mining, Agriculture, Fishing) which is just Extracting and Production of Raw Materials Straight from Natural Resources
-Secondary (Constructing and Manufacturing) which is Processing and Transforming Raw Materials from the Primary Sector into Finished Goods + Products
-Tertiary (Teaching, Banking, Tourism) which is the Service Side of the Economy. |
| Explain how the Structure of the Economy changes as a Nation gets more Developed | -A less Developed Nation will have a Large Primary Sector - Extracting Natural Resources and making Raw Materials
-Development thus allows for the Secondary Sector to Expand, Increasing the use of Natural Resources and Negative Externalities. This also leads to the Mechanising of the Primary Sector
-Eventually, it leads to the Growth of the Tertiary Sector as it needs Fewer Natural Resources and has less Pollution. But it also means for Imports to grow, so the Negative Externalities has just gone to another Nation |
