Today’s Schedule – 1/6 Ch. 18 Quiz Levels of Development PPT Homework – Read 19.2.

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Presentation transcript:

Today’s Schedule – 1/6 Ch. 18 Quiz Levels of Development PPT Homework – Read 19.2

Development Process by which a nation improves the economic, political and social well-being of its people

Types of Development Developed: National with a high average of material well-being Less Developed: Nation with low level of material well-being also called LDCs Developing?

Measuring Development Some factors: – GDP Per Capita GDP divided by total population – Life expectancy/Infant mortality rate – Diet In LDCs often just subsistence agriculture – Access to healthcare – Literacy rate

Characteristics of Developed Nations High GDP per capita Economic/political freedom High amount of consumer spending Small amount of labor force in agriculture Low infant mortality rate Large amount of infrastructure

Characteristic of LDCs Low GDP per capita Subsistence farming High unemployment rates Low literacy rates – Why?

Levels of Development  Toward Developed Nation Status 1. Primitive: No economic organization 2. Transition: Cultural traditions begin to fade 3. Takeoff: New industries grow, profits are reinvested into country

Levels of Development  Toward Developed Nation Status 4. Semi-development: Economy expands and enters international market 5. Highly Developed: Basic needs are met; focus is now on providing consumer G and public S Newly Industrialized (NIC): LDC that has shown significant improvement – Mexico, Brazil, Hong Kong, S. Korea