economic development
Economic development is the process of improving the quality of life of a nation, region or community.
infant mortality rate
A figure that describes the number of babies that die within the first year of their lives in a given population per 1000.
life expectancy
the number of years a person can expect to live
ways to improve life expectancy
.have a healthy diet .get rid of stress.avoid risks
ways to decrease infant mortality
mothers must stop:.drinking and smoking during pregnancy.Reduce Teen Pregnancy Rates.Improve Access to Quality Prenatal Care.
EDP
Economic Development Policy
education improvement
teacherstechnology involve parents
infant mortality rate in Sa
25.8 per 1000
sanitation
Disposal of waste products
where do we find sanitation
mostly in rural areas due to dirty liwater
sanitation effects
water born diseases
water born diseases
malaria
transportation
good thing for people to prevent wasting time and money
How does a nation achieve economic development?
a nation achieves economic development when emerging economies become advance economies and you can see a gradual shift from agriculture to industry to services that will result in economic growth.
What are the consequences of economic development?
A longer average life expectancy, Improved productivity, higher literacy rates, and better public education, are also consequences
economic growth
a steady, long-term increase in real GDP
political stability
the ability of a government to consistently provide services that meet the basic needs of most of the population to foster the public's confidence in the institutions of the state
strategies that encourage development
increase capital formation (machinery etc.)
Supply-side policies
economic policies designed to stimulate the economy by increasing production
strategies that encourage development
improvement quality of workforce
supply-side policies examples
Labour MarketCapital MarketsEntrepreneurshipCompetition and Efficiency
Free-market supply-side policies
involve policies to increase competitiveness and free-market efficiency
strategies that encourage development
promote entrepreneurs
free-market efficiency
A free market economy makes allocative efficiency possible. Allocative efficiency is achieved when the economy has used its resources in such a way that consumer satisfaction is at its highest possible level
wealth
All the accumulated physical and financial assets, which enable people and businesses to earn an income.
assets
Useful or valuable things, people, or qualities possessed by people.
2 types of assets
- Financial assets- Physical assets
Example of Social Assets/Social Wealth
Hospitals and schools owned by the state
characteristics of developing countries
Low standard of living, High population growth, dependence on primary products
Creation of national wealth
By adding to the factors of production, to increase output and income