Development Aspects and Causes - Todaro Chapter 6
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Questions and Answers

Which of the following is NOT considered a cause of the development gap?

  • Colonialism
  • Natural Resources
  • War
  • Technological Advancement (correct)

    • Asian regionalism is primarily a result of political planning.

    False

    What are the two factors that contribute to building Asian regionalism?

    Functionalist dimensions and identity issues.

    The 1997–98 Asian financial crisis originated in ______.

    <p>Thailand</p> Signup and view all the answers

    What is the term for the import of goods into a country followed by re-export without domestic distribution?

    <p>Entrepot</p> Signup and view all the answers

    Match the following regions with their economic classifications:

    <p>Southwest Asia = Middle-income North and Central Asia = Low-income South Asia = Low-income East Asia = Most prosperous</p> Signup and view all the answers

    Tariffs are taxes imposed on exported goods.

    <p>False</p> Signup and view all the answers

    What is the economic theory that explains the ability of a country to produce a good at a lower opportunity cost than its trade partners?

    <p>Comparative advantage</p> Signup and view all the answers

    Which of the following statements is true regarding the outward-oriented growth strategy of Asia?

    <p>It promotes both domestic and international trade.</p> Signup and view all the answers

    Israel is classified as a low-income country in Southwest Asia.

    <p>False</p> Signup and view all the answers

    The study of monetary interactions between countries is known as __________.

    <p>international finance</p> Signup and view all the answers

    What triggered the Asian financial crisis of 1997–98?

    <p>The unpegging of the Thai baht from the U.S. dollar.</p> Signup and view all the answers

    Match the following types of inflation with their descriptions:

    <p>Demand-Pull = Caused by high demand Cost-Push = Driven by rising production costs Built-In = Related to expected wage increases Core = Excludes volatile prices like food and energy</p> Signup and view all the answers

    Which of the following is a role of money in an economy?

    <p>Store of value</p> Signup and view all the answers

    Inflation can be driven by increased demand while other factors remain constant.

    <p>True</p> Signup and view all the answers

    What are the four economic processes mentioned?

    <p>Production, Distribution, Exchange, Consumption</p> Signup and view all the answers

    What is a key component at the heart of socio-cultural globalization?

    <p>Internet and Social Media</p> Signup and view all the answers

    Ethnocentrism is the belief that other cultures are better than one's own.

    <p>False</p> Signup and view all the answers

    Who is generally regarded as the father of Realism in globalization?

    <p>Aristotle</p> Signup and view all the answers

    The process by which business and other organizations develop international influence is called __________.

    <p>globalization</p> Signup and view all the answers

    Which belief asserts that ensuring individual rights is the highest goal of government?

    <p>Liberalism</p> Signup and view all the answers

    Match the following terms to their definitions:

    <p>Ethnocentrism = Belief in the superiority of one’s own culture Xenocentrism = Belief that other cultures are better than one’s own Pragmatic Approach = Based on practical considerations Idealism = Belief in a perfect world and standard living</p> Signup and view all the answers

    Technological globalization refers to the reduction in reliance on technology.

    <p>False</p> Signup and view all the answers

    What are the visible influences of socio-cultural globalization on Filipinos?

    <p>Fashion, language, music, movies, food</p> Signup and view all the answers

    What does the term 'Standard of Deferred Payment' refer to?

    <p>Ability to acquire goods now and pay later</p> Signup and view all the answers

    In a free market economic system, government interference is significant.

    <p>False</p> Signup and view all the answers

    What are the four main factors of production?

    <p>Land, Labor, Capital, Entrepreneurship</p> Signup and view all the answers

    A ______ is a community formed by people exercising permanent power within a specified territory.

    <p>state</p> Signup and view all the answers

    Match the following countries with their rank in the top 10 richest countries in 2023:

    <p>USA = 1st China = 2nd Germany = 3rd Japan = 4th India = 5th</p> Signup and view all the answers

    Which of the following organizations is involved in international relations?

    <p>Group of 20</p> Signup and view all the answers

    Globalism prioritizes national principles over global principles.

    <p>False</p> Signup and view all the answers

    What does the Modern World System Model seek to explain?

    <p>The dynamics of the capitalist world economy as a total social system.</p> Signup and view all the answers

    What is one of the main purposes of the United Nations?

    <p>To maintain international peace and security</p> Signup and view all the answers

    The United Nations was founded on October 26, 1945.

    <p>False</p> Signup and view all the answers

    In which city was the Charter of the United Nations signed?

    <p>San Francisco</p> Signup and view all the answers

    The United Nations aims to develop friendly relations among nations based on ______ rights and self-determination.

    <p>equal</p> Signup and view all the answers

    Match the following Articles to their main focus:

    <p>Article 1 = Purposes of the United Nations Article 2 = Principles to be followed Article 3 = Membership of the United Nations</p> Signup and view all the answers

    Which principle is NOT outlined in Article 2?

    <p>Economic Growth</p> Signup and view all the answers

    List one type of problem that the United Nations aims to address through international cooperation.

    <p>Economic, social, cultural, or humanitarian problems</p> Signup and view all the answers

    The United Nations primarily focuses on the rights of specific groups rather than universal human rights.

    <p>False</p> Signup and view all the answers

    Study Notes

    Aspects of Development

    • Development includes increased life sustenance, self-esteem, and freedom of choice.

    Causes of Development Gap

    • Historical factors like colonialism contribute to disparities.
    • Political issues such as war and corruption impact development.
    • Geographic factors include climate and access to natural resources.
    • Socio-economic issues involve the cycle of poverty and the global trading system.

    Asian Regionalism

    • Asian regionalism arises from economic interactions rather than political plans.
    • Successful outward-oriented growth strategies have enhanced economic interdependence among Asian nations.
    • Functionalist aspects promote cooperation in economic and security areas.
    • Emphasis on identity issues defines regional cooperation.

    Outward-Oriented Growth Strategy of Asia

    • Trade and industrial policies do not differentiate between domestic and export production, fostering international trade.

    Economic Levels in Asia

    • Southwest Asia contains middle-income economies; exceptions include high-income nations like Israel and Gulf states.
    • North and Central Asia primarily comprise low-income countries; Russia, Kazakhstan, and Uzbekistan fall under lower-middle-income.
    • South Asian countries are mostly low-income, with Sri Lanka as a lower-middle-income exception.
    • East Asia is the wealthiest region, while Southeast Asia has seen significant economic growth, moving into middle-income status.

    Asian Financial Crisis (1997-98)

    • Originated in Thailand after the baht was unpegged from the U.S. dollar, triggering a currency crisis and capital flight.

    Socio-Cultural Globalization

    • Cultural diffusion occurs globally through socialization; the internet and social media facilitate this spread.
    • Pop culture crosses geographical boundaries, influencing aspects like fashion, language, music, and food.
    • Ethnocentrism is the belief in cultural superiority, while xenocentrism values external cultures over one’s own.

    Technological Globalization

    • Characterized by reliance on advanced technology, including computers and machinery.

    Philosophies of Globalization

    • Realism: Focuses on power dynamics and competition in international politics; Aristotle is known as the father of Realism.
    • Liberalism: Centers on individual human rights and moral arguments for government goals.
    • Idealism: Emphasizes the role of values and norms in international relations.

    International Trade

    • Global economy functions as a cohesive entity involving cross-border exchanges of goods and services.
    • Globalization leads to businesses operating on an international scale, enhancing domestic economic performances.
    • International trade refers to the exchange of imports, exports, and entrepôt goods.
    • Tariffs and quotas are protectionist policies to regulate international trade.

    Key Economic Concepts

    • Comparative Advantage: Ability of a country to produce goods at lower opportunity costs than trade partners.
    • International Finance: Studies monetary interactions between countries, involving foreign direct investment and currency exchange.
    • Global Investment: Investment strategies without geographical limitations, primarily through foreign direct investment.

    Inflation Theories

    • Keynesian Theory: Prices increase with rising production costs.
    • Monetarist Theory: Inflation results from an increased money supply.
    • Types of Inflation:
      • Demand-Pull: Driven by high demand.
      • Cost-Push: Results from increasing costs of goods.
      • Built-In: Anticipated inflation associated with high wages.

    Functions of Money

    • Serves as a medium of payment, store of value, unit of account, and standard for deferred payments.

    Factors of Production

    • Land: Natural resources.
    • Labor: Human effort.
    • Capital: Machinery and tools.
    • Entrepreneurship: Innovative combinations of the above factors.

    Economic Systems

    • Free Market: Minimal government intervention; market driven by supply and demand.
    • Command Market: Government controls a significant portion of the economy.

    Top 10 Richest Countries (2023)

    • United States, China, Germany, Japan, India, United Kingdom, France, Italy, Brazil, Canada.

    Global Interstate System

    • Examines relationships between states, with the concept of sovereignty allowing self-governance.
    • Nation-State: Community defined by shared identity within specific borders.

    Institutions Governing International Relations

    • United Nations, NATO, European Union, World Trade Organization, G20, International Criminal Court.

    Globalism

    • Advocates for global cooperation over national interests, recognizing interdependence among nations.

    United Nations

    • Founded in San Francisco, June 26, 1945, aimed at maintaining peace, fostering friendly relations, and promoting international cooperation.

    UN Charter

    • Article 1 outlines the UN's purposes, including preserving peace and fostering cooperation.
    • Article 2 discusses principles such as sovereign equality and peaceful dispute resolution.

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    Description

    Explore the key aspects of development as discussed by Michael Todaro, including increased life sustenance, self-esteem, and freedom to choose. The quiz also dives into the causes of development gaps, such as historical, political, geographical, and socio-economic factors, as well as the concept of Asian regionalism driven by economic interaction.

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