Econ development

• What is economic development?

  Increase in quality of life and well-being
• What indicators are focused on economic development?

  Health, education, and income
• Why is education important for economic development?

  It enables individuals to make meaningful choices
• How does health contribute to economic development?

  It is central to citizens' well-being
• How does a rise in real GDP per capita affect economic development?

  It likely leads to improved living standards
• What aspect of national income is economic development concerned with?

  How national income is distributed
• What is economic growth primarily concerned with?

  Rate of change of national income
• What does economic growth describe?

  Changing output, expenditure, and income
• What is the nature of economic growth?

  Quantitative and narrow in scope
• What does economic growth usually occur in?

  Developed economies focusing on GNP
• How does economic growth occur?

  It occurs naturally without government aid
• What is the nature of economic development?

  Qualitative and broader in scope
• What does economic development consider in addition to output?

  Improvements in standard of living
• What is the process of economic development?

  Long-term and continuous development
• In which economies does economic development usually take place?

  Developing economies improving GDP and living standards
• What role does government play in economic development?

  Policymaker and intervention facilitator
• What is sustainable development (SD)?

  Development meeting present needs without compromising future
• What does sustainable development aim to preserve?

  The natural resource base for future generations
• What does sustainable development focus on minimizing?

  Environmental degradation while considering economy and society
• How is economic growth related to sustainable development?

  It is a small portion of the wider goal
• What is necessary for achieving sustainable development goals (SDGs)?

  Proper policy interventions and objectives
• What should be defined before initiating SD projects?

  Areas of improvement and priorities backed by research
• How many sustainable development goals are there?

  17 goals

  
• What does the tertiary sector of the economy consist of?

  Production of services instead of end products
• What are services also known as?

  Intangible goods
• What does the secondary sector of the economy describe?

  The role of manufacturing and construction
• What does the secondary sector produce?

  Finished goods suitable for sale
• What does the primary sector of the economy include?

  Extraction and production of raw materials
• What activities are included in the quaternary sector?

  Intellectual or knowledge-based economic activities

  
• What does the quaternary sector include?

  IT, digital media, R&D, and consultation

  
• What are the two broad categories of countries?

  More and less economically developed countries

  
• What are key factors differentiating LEDCs and MEDCs?

  Birth rates, life expectancy, GDP, and education
• What is the per capita income threshold for less-developed economies?

  Below $1,108
• What percentage of the population in LEDCs lives below the poverty line?

  40-50%
• What is a common issue in LEDCs regarding infrastructure?

  Unavailability of roads, schools, and hospitals
• What is a characteristic of job availability in LEDCs?

  High unemployment due to primary product dependency
• What is one measure of economic development?

  Human Development Index (HDI)

  
• What does HDI measure?

  Health, education, and income dimensions

  
• How is health measured in HDI?

  By life expectancy at birth

  
• How is education measured in HDI?

  Mean years of schooling and expected years