Who defined underdevelopment in relation to ‘backward societies’?
US President Harry Truman (1949)
What does the term ‘developing countries’ refer to?
Dynamic concept defined in relation to ‘development’
What is the Group of 77 (G77)?
A coalition of developing countries that advocates for their interests in the United Nations.
What does GDP stand for?
Gross Domestic Product
What does GNP or GNI include?
GDP plus income generated abroad, minus payments made overseas.
What is ‘per capita income’?
Amount of income earned per person in a country or geographic region.
What is Purchasing Power Parity (PPP)?
An economic theory that compares different countries’ currencies through a ‘basket of goods’ approach.
Fill in the blank: Poverty is caused by low productivity of labor due to low levels of _______.
[physical capital, human capital, and technologies]
What is a criticism of income-based development?
Good economic growth performance may not reduce poverty or inequality.
What are ‘basic needs’ in the context of development?
Minimal requirements for private consumption and increased access to social services.
What does ‘redistribution with growth’ refer to?
Increasing investment transfers in projects benefiting the poor.
Who is associated with the concept of human development?
Amartya Sen
What is the Human Development Index (HDI)?
A composite index measuring life expectancy, education, and standard of living.
What are the three components of the Human Development Index (HDI)?
- Life expectancy at birth
- Education attainment
- Standard of living (per capita GNI)
What are Least Developed Countries (LDCs) defined by?
- Per-capita income
- Human assets
- Economic vulnerability
What does the Gini coefficient measure?
Distribution of income and wealth among a population.
True or False: Developing countries are generally more unequal than developed countries.
True
What is a trend regarding economic growth and poverty in developing countries?
Countries that grow faster generally do not improve the situation of the poor.
What approach focuses on catching up with industrialized countries?
Modernization
What is the commitment to Development Index?
A measure of how well countries are providing development assistance and foreign aid.
What was the trend of poverty from the 1980s to the early 2000s?
More middle-income countries, but not significant reduction of poverty.
Fill in the blank: The ‘Africanisation of poverty’ refers to widespread poverty in _______.
[sub-Saharan Africa]
What has been the trend in global inequality since the late 2000s?
Progress in reducing poverty in Africa.
What is a significant finding regarding the location of poor people in relation to income categories?
More poor people live in middle-income countries (MICs) than in low-income countries (LICs).
