Economic Development or How shiny is your toilet?.

Economic Economic DevelopmentDevelopment

oror

How shiny is your toilet?How shiny is your toilet?

Indicators of Economic Indicators of Economic DevelopmentDevelopment

Urban or Rural- Developed nations are Urban or Rural- Developed nations are generally more urban.generally more urban.

Gross Domestic Product (GDP) value of goods Gross Domestic Product (GDP) value of goods & services produced- developed nations have & services produced- developed nations have a high GDP.a high GDP.

Level of the educational achievement- Level of the educational achievement- developed nations have highly educated developed nations have highly educated populations.populations.

Indicators of Economic Indicators of Economic DevelopmentDevelopment

Infrastructure- the Infrastructure- the framework of technical framework of technical structures that support structures that support a society.a society.

– Communication Communication networks, water supply, networks, water supply, waste disposal, power waste disposal, power grids, transportation, etc.grids, transportation, etc.

Developed countries Developed countries have very have very technologically technologically advanced advanced infrastructure.infrastructure.

Indicators of Economic Indicators of Economic DevelopmentDevelopment

Economic activities- Most people in developed Economic activities- Most people in developed nations work in secondary & tertiary levels.nations work in secondary & tertiary levels.

Industrialization- the transition from an Industrialization- the transition from an agricultural society to one based on agricultural society to one based on manufacturing & trade. manufacturing & trade.

Indicators of Economic Indicators of Economic DevelopmentDevelopment

Subsistence FarmingSubsistence Farming Growing only enough Growing only enough

food for one’s own food for one’s own family or village.family or village.

Animals & people Animals & people provide most of the provide most of the labor; more hands = labor; more hands = less workless work

small plots & diverse small plots & diverse cropscrops

70% of world 70% of world agricultural production agricultural production is subsistence farming.is subsistence farming.

Indicators of Economic Indicators of Economic DevelopmentDevelopment

Commercial FarmingCommercial Farming Crops & livestock are raised to be sold.Crops & livestock are raised to be sold. Farmers use modern techniques & equipment to be Farmers use modern techniques & equipment to be

more productive; huge plots & single crops.more productive; huge plots & single crops. <10% of the population in industrialized countries<10% of the population in industrialized countries

Levels of Economic Levels of Economic DevelopmentDevelopment

DevelopedDeveloped Modern Modern

industrialized industrialized countries with well countries with well developed developed infrastructure & infrastructure & technology.technology.

– Japan, Germany, Japan, Germany, U.S., AustraliaU.S., Australia

Levels of Economic Levels of Economic DevelopmentDevelopment

DevelopingDeveloping Countries moving Countries moving

toward more toward more complete complete infrastructure infrastructure development & development & industrialization.industrialization.

Some elements are Some elements are present but not all. present but not all.

– Mexico, China, Mexico, China, Malaysia, IndiaMalaysia, India

Levels of Economic Levels of Economic DevelopmentDevelopment

UnderdevelopedUnderdeveloped Countries that lack industries & modern technology; Countries that lack industries & modern technology;

infrastructure not well developed; dependent on infrastructure not well developed; dependent on developed countries for manufactured goods.developed countries for manufactured goods.

– Haiti, Niger, Afghanistan, Papua New GuineaHaiti, Niger, Afghanistan, Papua New Guinea

Differences between Differences between developing & developed developing & developed

nationsnations Developed nations have better access to Developed nations have better access to

natural & capital resources.natural & capital resources.

Developed nations have more investment in Developed nations have more investment in technology & have created a better technology & have created a better infrastructure.infrastructure.

Developed nations have more skilled labor.Developed nations have more skilled labor.

Developed nations have a higher level of Developed nations have a higher level of economic development & diversity.economic development & diversity.

Developed nations have a higher standard of Developed nations have a higher standard of living & a higher quality of life.living & a higher quality of life.

Measures of DevelopmentMeasures of Development

Per Capita GDP/GNP- the value of all the goods & Per Capita GDP/GNP- the value of all the goods & services a country produces divided by its population.services a country produces divided by its population.

Human Development Index (HDI)- measures economic Human Development Index (HDI)- measures economic & human well-being by combining life expectancy, & human well-being by combining life expectancy, literacy, & per capita GDP, etc. into one number.literacy, & per capita GDP, etc. into one number.

http://hdr.undp.org/en/countries