Economic Development. Economic Development Economic Development: to promote growth of the economy Definitions Economic: the production, distribution.

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Presentation transcript:

Economic Development

Economic Development: to promote growth of the economy Definitions Economic: the production, distribution and consumption of goods and services Development: to make available, useful and promote growth Economic Development: to promote growth of the economy

Factors Affecting Economic Development

Geography: location, topography, climate Resources: Natural: finite, infinite, renewable Human: physical, mental Capital: money, goods Technology: agriculture, industry, service, medicine

Markets: domestic, international Politics: stability, human rights Culture: Norms and beliefs, the role of women and other minorities Decision making processes: roles of tradition and new ideas History: role in world history, colonialism

Stop and think Does Canada have a greater responsibility to assist those nations that may not have the same level of opportunities Canada has to develop their economy? (i.e. – what did we do to deserve this?)