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Flashcards by eleanor.adamandi, updated more than 1 year ago
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| Question | Answer |
| Define economic growth | An increase in output per person |
| Define economic development | An increase in output per person, resulting in a fundamental change in the structure of society |
| List 3 "fundamental changes" in society | Changes in farming methods A movement from rural to urban areas Change in type of work |
| What is the first stage of Economic Growth | The Traditional Society |
| What is the second stage of Economic Growth | The Preconditions for Take-Off |
| What is the third stage of Economic Growth | The Take-Off |
| What is the fourth stage of Economic Growth | The Drive to Maturity |
| What is the fifth stage of Economic Growth | The Age of Mass Consumption |
| In an LDC, income per person is... | Low |
| Population growth in LDCs is... | Rapid |
| Who owns the majority of the wealth in an LDC? | A small ruling elite |
| What should governments of LDCS prioritise for economic growth? | Education |
| What is essential for economic growth to take place? | Peace & Political Stability |
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