Do Now: Add the definitions of “More developed countries” and “Less developed countries” to your new vocabulary page. You can find the definitions on your.

Slides:



Advertisements
Similar presentations
Measuring National Income Copyright P Oldfield Measuring National Income THE ABSOLUTE BASICS.
Advertisements

Measuring a Nation’s Income
Canada Macroeconomics. GDP GDP stands for the gross domestic product. This is the number for how much percentage of economic growth has happen in a specific.
Measuring a Nation’s Income
How we measure development WHAT FACTORS MIGHT WE CONSIDER WHEN COMPARING THE DEVELOPMENT OF COUNTRIES?
Chapter Measuring a Nation’s Income 10. The Economy’s Income and Expenditure Gross Domestic Product (GDP) – Measures the total income of everyone in the.
Chapter Measuring a Nation’s Income 15. Microeconomics vs. Macroeconomics Microeconomics – Study of how households and firms Make decisions Interact in.
Section 3B- Module 11- Interpreting Real Gross Domestic Product.
Measuring Development. GDP Gross Domestic Product Value of total output of goods and services within a country in a year- p.276 PER CAPITA MDCs - $30,000.
Global Poverty: Poverty and Wealth
Developed vs. Developing (underdeveloped) What factors do we need to look for?
RICH NORTH MEDC POOR SOUTH LEDC.
CONTEMPORARY ECONOMICS© Thomson South-Western 12.2Living Standards and Labor Productivity Growth  Explain why there is such a large difference among countries.
ECONOMIC INDICATORS. ECONOMIC INDICATORS SHOW THE HEALTH AND DEVELOPMENT OF A COUNTRY’S ECONOMY.
A study of the demographics of European Countries.
Measuring Economic Activity It is also called NATIONAL INCOME ACCOUNTING. Why should we measure? - Observe a country’s performance over time. - Compare.
Gross Domestic Product (Part 2). Real versus Nominal GDP Inflation can distort economic variables like GDP, so we have two versions of GDP: One is corrected.
Answer This Question: The political cartoon depicts population growth over the past two thousand years. Which statement best describes this illustration?
Classifying Countries The North-South Gap
Demographic Terms Created by: Mr. D. Level of Development The productivity with which countries use their productive resources is widely recognized as.
Developing Countries vs Developed Countries. What Do You Think? What are characteristics of a developing country? What are characteristics of a developing.
Gross Domestic Product. What is Gross Domestic Product? The total market value of all final goods and services produced during a given period of time.
 Group of Seven (G7 ): This is an international organization officially established in 1985 to facilitate economic cooperation among the world's largest.
World development and interdependence compilation.
Measuring National Income Copyright P Oldfield Measuring National Income THE ABSOLUTE BASICS.
 A piece of economic data (statistic)  indicates the direction of an economy.
International Development Chapter 9 Meaning of Development Measuring Development Location of More and Less Developed Countries Strategies for International.
Chapter 8, Section 1 Text Pages India. Objectives Learn about key features of India’s population. Examine the state of India’s economy. Understand.
Economic Growth. Growth and the business cycle Short-run economic growth and the business cycle.
Human Resource, Capital Resources and GDP. Human Resources People having the skill, knowledge, education, and training to be productive workers that help.
IGCSE ECONOMICS Section C 1/9/14. OUTPUT  The output of an economy is also known as National income. This measures the total value of goods and services.
World Economic Activities. Primary Economic Activities Economic activities that rely directly upon natural resources.
How do economic factors influence Europe?
GEOGRAPHIC AND ECONOMIC INDICATOR QUESTIONS ANSWERED.
Measuring the Economy. Vocabulary Gross Domestic Product (GDP) GDP per Capita Base Year Business Cycle Prosperity Recession Depression Recovery Inflation.
Wealth How do we measure wealth?. Gross domestic product (GDP) This measures the wealth created in a country in a given year (includes the production.
DEVELOPING COUNTRIES VS DEVELOPED COUNTRIES. What Do You Think?  What do you think it means to be a developing country?  What do think it means to be.
Economics The social science that deals with the production, distribution, and consumption of goods and services.
Chapter Measuring a Nation’s Income 10. Microeconomics vs. Macroeconomics Microeconomics – Study of how households and firms Make decisions Interact in.
Mini Presentations: Economic & Social & Composite Indicators of Development.
Canadian Geography 1202 Unit 4: Standard of Living and Quality of Life.
Week 1 Activity 2. Traditional (Subsistence) Economy – Goods and services are produced by a family for their personal consumption. Little surplus and.
Economic Development Vocab and Terms
Demographic Data Cause and Effect.
The US Economy: A Global View
Geographic and Economic Indicator Questions Answered
Taking the Nation’s Economic Pulse
Human Development Index
Globalisation…. What is globalisation? Definition of globalisation ‘The ability to produce any goods (or service) anywhere in the world, using raw.
ECONOMIC INDICATORS.
Overview of Macroeconomics
Measuring a Nation’s Income
Economic growth Learning outcome V Define economic growth
DeVELOPMENT KEY ISSUE 1.
Developing Countries vs Developed Countries
Measuring Development
Developing Countries vs Developed Countries
Developing Countries vs Developed Countries
Developing Countries vs Developed Countries
Measuring Development
Economic Indicators Answers
Developing Countries versus Developed Countries
Standard of Living SWBAT: determine high, low, and medium levels of development and categorize a country as MEDC/LEDC.
Measuring a Nation’s Income
Developing Countries vs Developed Countries
How is Economic Growth Measured?
Developed and Developing Nations SOL8
Measuring a Nation’s Income
GDP: Measuring the National Economy
Economic Growth What is economic growth? Economic growth is the increase in the amount of the goods and services produced by an economy over time. It is.
Presentation transcript:

Do Now: Add the definitions of “More developed countries” and “Less developed countries” to your new vocabulary page. You can find the definitions on your handout for today. Think-pair-share: Have you heard these terms used before? If so, can you remember where you heard them?

Developed and Developing Countries Understanding the characteristics of each

What do you think? Explain the difference between the following two words: Developed Developing

I.Developing Country A.Usually refers to countries with low levels of economic development A.Developing countries do not have a level of industry that will support their populations and have a low standard of living. A.They almost always have low incomes and high populations

Think about it... What problems might you expect to exist in countries with little industry, low standard of living, and low income -BUT- High population? Source:

Developing Countries are sometimes referred to as LEDC (LEDC- Less Economically Developed Countries) ●People living in Less Economically Developed Countries USUALLY have a lower quality of life. ●This means these people do not have access to life’s essentials of: *FOOD *SHELTER * WATER *MEDICAL CARE

II.Developed Country A.Usually refers to countries with higher levels of economic development B.Developed countries have a higher level of industry that can support their populations C.These countries primarily have a higher standard of living Source:

Developed Countries are sometimes called “MEDC.” (MEDC = More Economically Developed Countries) ●More Economically Developed Countries are mostly in the northern hemisphere. ●These people have a higher quality of life which means they not only have access to life’s essentials of food, water, shelter and medical care but also have luxuries, better education, security, etc.

III. Determining Development A.To determine a country’s development, these statistics are usually considered by the United Nations - 1.GDP (Gross Domestic Product) 2.Life Expectancy 3.Literacy Rate 4.Education 5.Healthcare System Source:

Source:

III.Determining Development B.GDP 1.Is the market value of all final goods and services produced within a country in a given period of time 2.Like a price tag on a country's output, and it measures the size of the economy 3.GDP Equation is: GDP = Consumption + Government Expenditures + Investment + Exports - Imports Source:

“The International Monetary Fund devised this handy graphic for summarizing economic output around the world. Each country is depicted as a rectangle, with the overall size of the rectangle representing the overall size of your economy. But two similarly sized rectangles can have very different shapes. A tall and skinny rectangle like Germany represents rich countries with not that many residents. A short and squat rectangle like Nigeria represents a country with many residents and a very low average standard of living. We also see here that the global income distribution is quite unequal, with around 75 percent of the world's population living in countries that are below the global average income.” Source:

III.Determining Development C.Life Expectancy - the average number of years that a newborn can expect to live Source:

III.Determining Development D.Literacy Rate - the ability to read, write and think critically (This rate is usually taken as a percentage of the population over age 15. The literacy rate of the United States is 99. This means that 99% of the people in this country over age 15 can read and write.) Source:

Evaluate: Developed or Developing? GDP: $49,800 per capita Life Expectancy: 80 years Literacy Rate: 99 Source: CIA “The World Factbook”

Evaluate: Developed or Developing? GDP: $49,800 per capita Life Expectancy: 80 years Literacy Rate: 99 Developed The United States

Evaluate: Developed or Developing? GDP: $1,100 per capita Life Expectancy: 50 years Literacy Rate: 28

Evaluate: Developed or Developing? GDP: $1,100 per capita Life Expectancy: 50 years Literacy Rate: 28 Developing Afghanistan

Evaluate: Developed or Developing? GDP: $35,700 per capita Life Expectancy: 82 years Literacy Rate: 99

Evaluate: Developed or Developing? GDP: $35,700 per capita Life Expectancy: 82 years Literacy Rate: 99 Developed France

Evaluate: Developed or Developing? GDP: $9,800 per capita Life Expectancy: 75 years Literacy Rate: 95

Evaluate: Developed or Developing? GDP: $9,800 per capita Life Expectancy: 75 years Literacy Rate: 95 Developing China

Evaluate: Developed or Developing? GDP: $700 per capita Life Expectancy: 58 years Literacy Rate: 61

Evaluate: Developed or Developing? GDP: $700 per capita Life Expectancy: 58 years Literacy Rate: 61 Developing Liberia

Source: