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Measuring Levels of Economic Development
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A society’s economic level and activity can be measured by using various indicators.
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Those indicators allow us to measure if a country is developed, developing, or under-developed.
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The most common economic indicators to use are:
Life Expectancy Literacy Rate Purchasing Power Infrastructure
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Let’s look at each one and what it means.
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Life Expectancy
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Life Expectancy: average number of years a person lives
What could be some reasons why a countries life expectancy is low?
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Literacy Rate
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Literacy Rate: The ability to read and write.
How could a low literacy rate affect the economy of a country?
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Purchasing Power
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Gross Domestic Product
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Gross Domestic Product (GDP): The total value of the goods and services produced in a country during a given time period. Which is better—a high GDP or a low GDP?
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Annual Income
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Annual Income: Average income of a person for a year.
What factors could affect the average income of a person?
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Infrastructure
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Infrastructure: The basic facilities, services, and installations needed for the functioning of a community or society. What do you consider to be basic services a country needs to function?
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Developing, Developed, Under-developed
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The different economic indicators you saw help you to determine if a country is developing, developed or under-developed.
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Developed: high literacy rate, life expectancy; strong infrastructure
Here’s what those words mean: Developed: high literacy rate, life expectancy; strong infrastructure
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Developing: Countries with few jobs, poor services, low literacy rate and life expectancy but the country is working to improve its peoples lives.
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Under-developed:country that hasn’t yet started to improve the life of its people.
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Push & Pull Factors
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Push factors: problems in an area that cause people to emigrate, or move away from, an area. i.e. war, famine, poverty, schooling, political or cultural oppression Pull factors: advantages that cause people to immigrate, or move to, an area. i.e. higher standard of living, freedom, peace, educational opportunities, safety
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Iraq U.S.A. Ethiopia Australia Rwanda Canada Cuba United Kingdom
Push factor countries Pull factor countries Iraq Ethiopia Rwanda Cuba Mexico U.S.A. Australia Canada United Kingdom
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Day Two Practice Graphs
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