Economic Development and Inequality
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| What is a countries Economy | The economy is the way in which a country organises its use of money, goods and trade.
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| What were more developed economies referred to as | Countries with more developed economies are referred to as ‘developed countries’, or
sometimes as ‘more economically developed countries (MEDCs)’.
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| What were less developed economies referred to as | Countries with less developed economies are referred to as ‘developing countries’, or
sometimes as ‘less economically developed countries (LEDCs)’.
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| What are some indicators of economic development | Type of Employment
Education Rate
Adult Literacy Rate
Average Life Expectancy
Gross Domestic Product (GDP)
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| What is education rate | The education rate is the average amount of time spent in education in a country.
It is measured in years in education.
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| What is Literacy Rates | The adult literacy rate is the percentage of adults in a country who can read and write.
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| What is Life expectancy | Average life expectancy is the average
number of years a person can expect
to live from time of birth.
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| What are 2 Causes of Unequal Economic Development | Unfair Trade International trade is the exchange of capital, goods and services across international borders. Unfair trade is where developing countries do not receive a fair price for their exports.
Globalisation Globalisation has also hindered economic
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Created by:
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