Development
aiming for a better life for everyone
development
example of an economic indicator
Gross Domestic Product (GDP), GDP Per Capita, Unemployment rate, Inflation rate
the exchange of culture traits such as trade, technology, and ideas
globalization
countries trade capital, labor, goods, and services with one another around the world
international trade
the total monetary value of all goods and services produced within a country's borders over a specific time
GDP
example of a development indicator
Economic, Social, Environmental, Political, Quality of Life
benefit of globalization
Diversity, Lower prices for consumers, Access to more products and resources, Cheaper production costs and higher profits for businesses, Higher standard of living
Trade agreement that removed most barriers to trade and investment among the United States, Canada, and Mexico
NAFTA
economic output that accounts for a country’s population size.
example of social indicator
life expectancy, literacy rates, infant mortality rates, access to healthcare, levels of educational attainment
Cultures & languages dying, Businesses forced to close that can’t compete with lower prices, Exploiting vulnerable people - paid less in some countries, unsafe working conditions, Outsourcing
goal of NAFTA
Reduce tariffs (taxes) to increase trade between United States, Canada, and Mexico
Increase the standard of living of these North American countries
Lower prices for consumer goods due to more trade and less tariffs
Statistical measures that provide insights into the well-being and quality of life of individuals within a society
social indicator
metrics used to assess the progress and quality of development in a country or region
development indicators
Goods shipped INTO the country
imports
benefit of NAFTA
increased farm exports from the United States because it eliminated high Mexican tariffs (taxes)
the complex of activities related to the consumption, production, and trade of goods and services in a country
economy
level of wealth, comfort, and materials goods people have in a particular society
standard of living
Goods shipped OUT of the country
exports
weakness of NAFTA
Mexico’s environment has deteriorated due to increased use of fertilizers and other chemicals
US jobs especially manufacturing were lost as companies (outsourcing) moved jobs to Mexico
Critics argue that the US is importing more products from Mexico than Mexico was importing from the US