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Chapter 27

Economic Development and Inequality

QuestionAnswer
What is a countries Economy The economy is the way in which a country organises its use of money, goods and trade.
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)’.
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)’.
What are some indicators of economic development Type of Employment Education Rate Adult Literacy Rate Average Life Expectancy Gross Domestic Product (GDP)
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.
What is Literacy Rates The adult literacy rate is the percentage of adults in a country who can read and write.
What is Life expectancy Average life expectancy is the average number of years a person can expect to live from time of birth.
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
Created by: JMahango
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