Stages of Economic Development
What is this first stage of economic development?
Primitive Equilibrium (stage 1)
Define "crude birthrate".
The number of live births per 1,000 people.
What does GATT stand for?
General Agreement on Tariffs and Trade
What is the difference between renewable and nonrenewable resources?
Renewable resources can be replenished and Nonrenewable resources cannot be renewed or replenished.
Define hydropower.
Power or energy generated by moving water
When the barriers of primitive equilibrium are overcome and a country begins to grow more rapidly.. what stage of development does this describe?
"Takeoff" (stage 3)
Which country has a known thirty-year-old "one child per family" policy?
China
What does WTO stand for?
World Trade Organization
List examples of a renewable source.
Hydropower, biomass, solar power, and wind power.
Define scarcity.
Fundamental economic problem facing all societies that results from a combination of scarce resources and people's virtually unlimited wants.
A period of transition from the primitive equilibrium to a society that is moving toward economic and cultural changes.
What does ZPG stand for?
Zero population growth
What does IMF stand for?
The International Monetary Fund
List examples of a nonrenewable source.
Coal, petroleum, natural gas, and nuclear energy.
What does ECSC stand for?
When people have satisfied their basic needs and wants, they turn their attention to services and consumer goods. What stage of development is this?
"High Development" (stage 5)
Population growth, natural resources, geography, disease, substance abuse, education, technology, and external debt.
Define the purpose of the World Bank
To help developing countries join global markets as a part of their economic development strategy.
What are renewable resources alternatives to?
Fossil Fuels
What is ASEAN?
A group of ten Southeast Asian nations working to promote regional cooperation, economic growth, and trade.
In what stage does national income grow faster than the population?
Semi development (stage 4)
Another obstacle to developing countries is their lack of education and their ability to...
Read (literacy levels)
Define the purpose of the United Nations
Preserving peace through international cooperation and economic development projects that affect farming, entrepreneurship, and young women's employment prospects.
The 1986 meltdown of the Chernobyl reactor was an example of which nonrenewable source?
Nuclear energy
Organization of Petroleum Exporting Countries