changing the economic world

  • Created by: barkern21
  • Created on: 12-02-20 19:31

Quality of life & Human development index

QOL is measured - economically (in come) Physically (diet) and Phychologically (happiness).

Development around the world- HIC e.g. USA, NEE e.g. China LIC e.g. Dr Congo.

HDI is a measurement of development that uses income, life expectancy and education multiple indicators are better than a single indicator as they compare more factors.

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Demographic Transition Model

5 stages showing birth rate, death rate + overall population. As countries develop they go up the stages. Stage 1-4 all have natural increase - more births than deaths but stage 5 is natural decrease. Stage 2-= LIC 3- NEE 4-5 = japan. 

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Factors Influencing Development

Colonialism impacts development economically because of cash crops they cannot sell them to lots of other countries. 

Natural hazards also affect countrys because they do not have the materials to rebuild. 

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Transnational Corporations

Important for development of LICS + NEES. Investment money in factories + production which creates jobs. Foreign direct investment (FDI) positive multiplier effect.

Problems- exploit the workforce weak enviromental Laws.

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Aid, Fair trade

Aid is a gift that includes money, goods or services long term development assistance is voulentry and helps the country improve education and health care to make it better in the future.

Tied Aid- Money is given but a deal is made to buy goods back from that country it also comes out of taxation.

UK gives 0.7% of GDP as total aid.

Intermediate technology - is not too advanced advanced that it can not be repaired but still does the job.

Fair trade - ensures the workers get an increased wage. 

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Borrowing, Debt relief

LICS borrow money from HICS in the fast interest rates were so high they couldn't pay them back. Debt relief wipes off the debt normally in exchange for protection of an area of land.

Micro loans - small scale loaning of money to individuals to help improve their quality of life.

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Tourism in Jamaica

Climb a water fall at Dunns River falls. 55% of workers are in the tertiary sector. Employment - 200,000 jobs.

Economy - contributes 25% of GDP + increase by $2 billion a year. 

Infrastructure - only focuses on the edge of the island. 

Quality of life - not everyone has benefitted.

Enviroment - mass tourism damages the enviroment needing an excessive amount of resources. 

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Nigeria Economy

2nd fastest growing economy in the world.

11th in GDP ranking by 2050.

30% work in agriculture, only 14% in manufacturing. 95% of exports are oil.

In 1990 it was $36 billion in debt by 2015 it was at $575 billion GDP. 

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Nigeria Oil

To get the oil Nigeria needed TNC'S from Europe + America to help. They created the Nigerian national petrolium corporation to partner with the TNC'S and keep profits in Nigeria.Oil is in the south and has created a wealth divide.

Enviromental damage effects the farm land and surrounding areas. 


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Nigeria - Development for all

60% of Nigerians live on $1.25 a day.

Nigeria has a space programe to improve farming.

UK gives £300 million each year in aid.

Nigeria has developed from an LIC to an NEE.

Limited migration still occurs from Nigeria mainly to Europe.

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UK - deindustrialised

Globalisation increase trade and movements of money and people around the world as we are more connected. Deindustrialisation the complete shutting down of industry occured as products could be made more cheaply abroad e.g. ship building leading to loss of coal industry.

This lead to a post industrial economy as more people started working in the tertiary sector 80% in the UK.

M4 corridor for the creation of modern industry. Cambridge science park made in 1970 and Abcam is now worth £1 billion and now employs over 200 people. 


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UK - Sustainable industry

Coal = not sustainable

Car manufacturing was not sustainable but it's improving.

Problems - fuel consumption creates green house gasses increasing the green house effect.

Air pollution - Particles from cars low air qality.

Manufacturing process - More energy used to create a car than it uses in its lifetime on the road.

Nissan sunderland reduced CO2 by over 20%. Solar pannels on roof create enough energy to make 18,000 cars. 

Nissan leaf reduces amount of fossil fuels used.

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UK Transport

HS2 original cost of £42 billion although will generate £40 billion and increase productivity between Birmingham and London.

Additional runway at Heathrow to be built at a cost of £18.6 billion.

London Gateway port built in 2013 to allow for the biggest container ships carrying 18,000 containers.

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