The status of a person who owns a lot of goods, sometimes superfluous
Wealth
What does GDP stand for?
Gross Domestic Product
Average period a person can expect to live
Life expectancy
Has the poverty rate increased or decreased in the last 30 years?
Decreased
Grouping of countries with developed economies
Global North
A person's or a group's level of wealth. It can be low, medium or high
Standard of living
What does HDI stand for?
Human Development Index
What are three different scales at which we can contrast wealth?
between countries (global)
within a country (national)
between two regions (regional/national)
between two neighborhoods (local)
between two people (local)
What was the system of racial segregation in South Africa?
Apartheid
The status of a person who does not have enough resources to live properly in their environment.
Poverty
This is the Latin phrase "for each person"
per capita
Percentage of the population that can read and write
Literacy rate
If a country has a Gini Coefficent of .9, is it very equal or unequal?
Unequal
List all 5 BRICS countries
Brazil
Russia
India
China
South Africa
Improving the living conditions of the entire population in a fair way and without threatening the environment.
Sustainable Development
When the standard of living gap between rich and poor is very large
Social Enquality
What are the three dimensions measured by the MPI?
Health, Education, Living Standards
What does the HDI measure that the MPI does not?
Wealth produced per capital (GNI)
What measures income inequality within a region?
The Gini Coefficient
All the measures implemented in a country to improve or protect the health of the population.
What's the difference between GDP and GNI?
GNI = income earned (including remittances)
GDP = goods produced
What are 3 of the 6 living standards measured by the MPI?
water
sanitation
electricity
cooking fuel
housing
assets
Why is GDP not always a good measure of wealth?
It doesn't calculate economic disparity.
Which countries have the highest and lowest GDP in the word?
Luxembourg / Tuvalu