Economic Development

Sending goods to another country to sell.

• import

• export

Bringing goods in from another country to sell.

• import

• export

Globalization has brought economic growth to many developing countries.  This has meant jobs for millions of people.  It has also increased “_________ ___________” among countries.

• imports & exports
• multinational corporations
• economic interdependence

Which are a positive effects of globalization?

• opening of new markets

• increased pollution

• loss of job in the US

• cheaper consumer goods

• higher standards of living in developing countries

Which of the following has helped create a global economy in the present day?

• The use of high taxes for imports and exports

• Improvements in technology have made trade easier

• The creation of one form of currency (money) used to trade

• The success of the Communist governments in guiding trade

Human Development Index is...

• the average number of years a person is expected to live.

• a tool for ranking countries based on their level of economic development.

• how much humans develop over time.

GDP per capita is highest in

• South America
• East Asia
• North America
• Eastern Europe

Which level of development is a country where most people work at the subsistence level?

• More Developed

• Newly Industrialized

• Less Developed

the total dollar value of all goods and services produced by a country in 1 year; you can think of it as the size of the economy.

• GDP (Gross Domestic Product)

• Child Labor

• Per capita GDP

Improving the economic situation → better lives for people

• Urbanization

• Industrialization

• Modernization

• Economic Development