Development Chapter 1

Different individuals may have varying aspirations and desires regarding what constitutes development, depending on their personal experiences, backgrounds, and priorities.

It signifies that while individuals may have diverse developmental goals, their goals sometimes clash, leading to conflicts over resources and priorities.

The total income of all residents in a country, often used to measure economic activity but not a reliable indicator of individual well-being.

The average income per person in a country, calculated by dividing the total income by the total population. It's used to compare the relative wealth of different countries.

It refers to the unequal distribution of income within a country, where some individuals or groups have significantly more income than others.

It's a widely used criterion for classifying countries based on their average income levels. High-income countries typically enjoy higher living standards.

While the average income is useful for comparison, it doesn't reflect how income is distributed among the population. Unequal distribution can mask disparities in living standards.

It's a set of indicators that go beyond income to assess a nation's development. It includes aspects like literacy rates, health status, and life expectancy, reflecting the overall well-being of the population.

The number of children who die before they reach their first birthday, per 1000 live births. It's a sensitive indicator of healthcare access and quality.

It measures the proportion of the population aged 7 and above who can read and write. It indicates the level of education attainment in a country.

The proportion of children of a specific age group (e.g., 14-15 years) who are attending school. It reflects the participation in education at a particular level.

The collective provision of essential goods and services by the government or a community, often more cost-effective and equitable than individual provision.

It's an index developed by the United Nations Development Programme (UNDP) to measure a country's overall development. It considers factors such as life expectancy, education levels, and per capita income.

It represents the average expected lifespan of a person at birth. Indicates the general health status and living conditions in a country.

It refers to the average number of years of schooling that people aged 25 and above have received. It's an indicator of educational attainment and human capital development.

It represents the ability of future generations to meet their needs and aspirations. It focuses on using natural resources sustainably and protecting the environment for future generations.

Resources that are replenished naturally over time, like forests, water, and soil. However, overuse can lead to depletion.

Resources that are finite and cannot be replenished at a rate comparable to their consumption, such as fossil fuels. Overuse leads to depletion and potential scarcity.

It involves the use of resources at a rate faster than their replenishment. This can lead to depletion and scarcity.

The degradation of the natural environment, including pollution, deforestation, and climate change. It can have severe consequences for human well-being and sustainability.

The process of using resources and developing in a way that meets current needs without jeopardizing the ability of future generations to meet their own needs.

It refers to the collective actions taken by individuals, communities, and governments to address environmental issues. It involves reducing pollution, conserving resources, and mitigating climate change.

The economic activity of a state or region, encompassing the production of goods and services within its boundaries, excluding transactions with other states or countries.

It is the process of using data and statistical analysis to track and understand trends in economic activity, population, and other social indicators, providing insights for decision-making.

It is the process of using data and statistical analysis to track and understand trends in economic activity, population, and other social indicators, providing insights for decision-making.

It is the process of gathering, cleaning, and interpreting data to gain valuable insights and draw conclusions.

The price of a good or service in different countries is adjusted to account for differences in purchasing power, allowing for a more accurate comparison of living standards.

It is the total value of goods and services produced within a country's borders, including income generated from foreign investments.

A set of resources that contribute to a nation's economic growth and well-being, including human capital (skilled labor), natural capital (resources), and physical capital (infrastructure).

It is the process of increasing the production of goods and services, often associated with rising per capita income and living standards. But it can also be environmentally unsustainable.

It emphasizes the importance of considering social and environmental factors in addition to economic growth, promoting a balance between economic progress and sustainability.

A system where goods and services are exchanged directly without using money. Both parties need to find a person who wants to buy what they are selling and sell what they are buying.

A method using money as an intermediate step in the exchange of goods and services. A person sells their goods for money and then uses that money to buy other goods or services.

Paper notes and coins issued by a government as legal tender, used as a medium of exchange.

Money deposited into a bank account that can be withdrawn on demand. Banks accept deposits and pay interest on them.

A written instruction from a bank account holder to their bank to pay a specified amount to another person or entity.

The process of extending loans by banks to individuals, businesses, and institutions.

A financial arrangement where a lender provides money, goods, or services to a borrower in return for a promise to repay in the future.

Short-term loans taken by farmers to cover expenses for crop production during the growing season, which are usually repaid after harvest.

A situation where borrowers face increasing debt due to high interest rates and difficulty repaying loans, often leading to a cycle of borrowing and further indebtedness.

An asset owned by a borrower that they use as a guarantee for a loan. If unable to repay, the lender can sell the asset to recover the loan.

The terms and conditions of a loan agreement, including interest rate, collateral requirements, and repayment schedule.

Loans from institutions like banks and cooperatives, governed by regulations and oversight.

Loans from individual lenders, friends, family, or local traders, often with less regulation and higher interest rates.

Groups of people, typically women, who pool their savings and provide small loans to members at reasonable interest rates.

A bank in Bangladesh that specializes in providing microloans, particularly to women in rural areas, enabling them to start small businesses and improve their livelihoods.

The measurement of a country's overall development using factors such as life expectancy, education levels, and per capita income.

A measure of the average number of years that people in a country are expected to live.

The average number of years of schooling received by people aged 25 and above in a country.

The ability of future generations to meet their own needs and aspirations without compromising the ability of current generations to meet theirs.

Resources that are naturally replenished over time, such as forests, water, and solar energy.

Resources that are finite and cannot be replenished at a rate comparable to their consumption, such as fossil fuels.

The use of resources at a rate faster than their replenishment, leading to potential depletion and scarcity.

The degradation of the natural environment, including pollution, deforestation, and climate change.

The process of using resources and developing in a way that meets current needs without jeopardizing the ability of future generations to meet their own needs.

The total value of goods and services produced by a state's economy, excluding transactions with other states or countries.

The process of analyzing data to understand economic trends, population growth, and other social indicators.

The process of using data and statistical analysis to track and understand trends in economic activity, population, and other social indicators, providing insights for decision-making.

The process of gathering, cleaning, and interpreting data to gain valuable insights and draw conclusions.

A method of adjusting the prices of goods and services in different countries to account for differences in purchasing power, providing a more accurate comparison of living standards.

The total value of goods and services produced by a country's economy, including income generated from foreign investments.

Resources that contribute to a nation's economic growth and well-being, including human capital (skilled labor), natural capital (resources), and physical capital (infrastructure).

The process of increasing the production of goods and services, often associated with rising per capita income and living standards.

Economic development that emphasizes the importance of considering social and environmental factors in addition to economic growth, promoting a balance between economic progress and sustainability.