Development 0.0 / 5 ? GeographyThe economy and global superpowersA2/A-levelOCR Created by: IzziTCreated on: 26-04-14 11:31 Cumulative causation The process where economic activity leads to prosperity and economic growth, concentrated in an area. 1 of 14 Free market economy An economy with no government intervention and market forces rule. 2 of 14 World city One of the world's leading cities - included in the network of economic globalisation. 3 of 14 Development Gap The difference between the richest and poorest countries, in terms of the economy and quality of life 4 of 14 Core A favoured location where economic and economic and demographic growth become concentrated 5 of 14 Periphery A relatively retarded area in terms of economic development, that supplies core areas with resources and labour. 6 of 14 Trickle-down effect The gradual spread of growth/wealth from the core to the periphery or from rich to poor 7 of 14 GNI Gross national income 8 of 14 GDP Gross domestic product 9 of 14 Bilateral aid Aid arranged directly between two countries, a donor and a recipient 10 of 14 Multilateral aid Aid that countries provide through an international organisation e.g. The UN 11 of 14 Debt relief the partial/total forgiveness of national debt or the slowing/stopping of debt growth 12 of 14 Trade surplus Value of exports in greater than imports 13 of 14 Trade deficit More imports than exports 14 of 14
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