or How shiny is your toilet? Economic Development or How shiny is your toilet?

Indicators of Economic Development Urban or Rural- Developed nations are generally more urban. Gross Domestic Product (GDP) value of goods & services produced- developed nations have a high GDP. Level of the educational achievement- developed nations have highly educated populations.

Indicators of Economic Development Infrastructure- the framework of technical structures that support a society. Communication networks, water supply, waste disposal, power grids, transportation, etc. Developed countries have very technologically advanced infrastructure.

Indicators of Economic Development Economic activities- Most people in developed nations work in secondary & tertiary levels. Industrialization- the transition from an agricultural society to one based on manufacturing & trade.

Indicators of Economic Development Subsistence Farming Growing only enough food for one’s own family or village. Animals & people provide most of the labor; more hands = less work small plots & diverse crops 70% of world agricultural production is subsistence farming.

Indicators of Economic Development Commercial Farming Crops & livestock are raised to be sold. Farmers use modern techniques & equipment to be more productive; huge plots & single crops. <10% of the population in industrialized countries

Levels of Economic Development Developed Modern industrialized countries with well developed infrastructure & technology. Japan, Germany, U.S., Australia

Levels of Economic Development Developing Countries moving toward more complete infrastructure development & industrialization. Some elements are present but not all. Mexico, China, Malaysia, India

Levels of Economic Development Underdeveloped Countries that lack industries & modern technology; infrastructure not well developed; dependent on developed countries for manufactured goods. Haiti, Niger, Afghanistan, Papua New Guinea

Differences between developing & developed nations Developed nations have better access to natural & capital resources. Developed nations have more investment in technology & have created a better infrastructure. Developed nations have more skilled labor. Developed nations have a higher level of economic development & diversity. Developed nations have a higher standard of living & a higher quality of life.

Measures of Development Per Capita GDP/GNP- the value of all the goods & services a country produces divided by its population. Human Development Index (HDI)- measures economic & human well-being by combining life expectancy, literacy, & per capita GDP, etc. into one number. http://hdr.undp.org/en/countries