Questions and Answers
What is the height of Burj Dubai?
829.8 m
What are the three key questions that sum up development and underdevelopment?
Economic growth implies an increase in the per capita income of every citizen.
False
What is the main purpose of development economics?
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Which of the following factors contributed to the noticeable poverty and backwardness of some world countries after World War II? (Select all that apply)
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The term 'less developed countries' is abbreviated as _____.
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According to the Kuznets hypothesis, what happens to income inequality in the early stages of economic development?
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Match the following types of definitions of development with their descriptions:
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What is considered in the economic view of development?
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How many elevators does Burj Dubai contain?
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Define economic development.
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Study Notes
Development Concepts
- Development can vary in definition based on perspective, including economic, sociological, and religious viewpoints.
- Economic development focuses on sustainable growth to increase national output faster than population growth, often overlooking issues like poverty, unemployment, and income inequality.
- Sociological definitions of development emphasize industrialization and improved living standards, linking prosperity to healthcare, education, and life expectancy.
- Criticism in sociology arises from the Western-centric view of development, with some prioritizing liberation from oppression over industrial growth.
- Religious perspectives define development as holistic improvement—material, social, and spiritual.
Measuring Development
- Key indicators of development include poverty reduction, unemployment rates, and equality.
- A period of development is indicated by declining poverty, unemployment, and inequality, while worsening of these factors suggests underdevelopment.
Post World War II Context
- Post-World War II highlighted stark poverty in various countries due to colonial exploitation, war devastation, and inflation, leading to the emergence of development economics.
- Development economics aims to understand and propose solutions for issues like backwardness and underdevelopment in affected nations.
Economic Growth vs Economic Development
- Economic growth refers to the increase in the value of goods and services produced, a narrower concept than economic development.
- Economic development encompasses broader improvement in citizens' well-being, indirectly measured by higher per capita income.
- Four metrics for economic development: Gross National Product (GNP), GNP per capita, welfare measures, and social indicators.
Kuznets Hypothesis
- Simon Kuznets introduced the idea that economic growth initially increases income inequality before stabilizing and ultimately decreasing in developed phases.
- The Kuznets curve illustrates the relationship between economic growth and income distribution, highlighting a possible cycle of inequality.
Property Development Economics
- Defined as the ongoing reconfiguration of built environments to satisfy societal needs.
- Property in economics encompasses ownership and control of resources or goods, influencing various economic factors and development policies.
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Description
This quiz explores various definitions of development from economic, sociological, and religious perspectives. It examines key indicators such as poverty, unemployment, and equality, while also addressing criticism of Western-centric views. Understand how development can encompass material, social, and spiritual growth.
