Development

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Cumulative causation
The process where economic activity leads to prosperity and economic growth, concentrated in an area.
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Free market economy
An economy with no government intervention and market forces rule.
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World city
One of the world's leading cities - included in the network of economic globalisation.
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Development Gap
The difference between the richest and poorest countries, in terms of the economy and quality of life
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Core
A favoured location where economic and economic and demographic growth become concentrated
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Periphery
A relatively retarded area in terms of economic development, that supplies core areas with resources and labour.
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Trickle-down effect
The gradual spread of growth/wealth from the core to the periphery or from rich to poor
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GNI
Gross national income
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GDP
Gross domestic product
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Bilateral aid
Aid arranged directly between two countries, a donor and a recipient
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Multilateral aid
Aid that countries provide through an international organisation e.g. The UN
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Debt relief
the partial/total forgiveness of national debt or the slowing/stopping of debt growth
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Trade surplus
Value of exports in greater than imports
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Trade deficit
More imports than exports
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Other cards in this set

Card 2

Front

An economy with no government intervention and market forces rule.

Back

Free market economy

Card 3

Front

One of the world's leading cities - included in the network of economic globalisation.

Back

Preview of the back of card 3

Card 4

Front

The difference between the richest and poorest countries, in terms of the economy and quality of life

Back

Preview of the back of card 4

Card 5

Front

A favoured location where economic and economic and demographic growth become concentrated

Back

Preview of the back of card 5
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