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DEVELOPMENT
Group 8
Cawagas, Fedelene Joy
Deleste, Krisha Nicole
De Juan, Roevarc
Falsis, Hamuel Illiel
Gaitan, Aurora Demi Doreen
Tumabotabo, Anne Rae
Economic Development
Increase in living standards,
improvement in self-esteem
needs and freedom from
oppression as well as a greater
choice.
Most accurate method of
measuring development is
the Human Development
Index which takes into account
the literacy rates & life
expectancy
which affect productivity and
could lead to Economic Growth.
Economic Growth
Economic growth refers to
an increase in the real
output of goods and services
in the country.
Continuation
Brings qualitative
and quantitative
Effect changes in the
economy
Economic development
is more relevant to
measure progress and
quality of life in
Relevance developing nations.
Concerned with
Scope structural changes in the
economy
Brings quantitative
changes in the
economy
Economic growth is a
more relevant metric for
progress in developed
countries. But it's widely
used in all countries
because growth is a
necessary condition for
development.
Growth is concerned
with increase in the
economy's output
Economic Growth
Formula used in
calculating the
Gross National
Product
GNP = Consumption +
Government Expenditures
+Investments+ Exports +
Foreign Production by U.S.
Companies Domestic
Production by Foreign
Companies
How it works :
GNP includesincomeearned by citizens
and companies abroad, but does not
include income earned by foreigners
within the country.
The figures used to assess GNP include
the manufacturing of tangible goods
(cars, furniture and agricultural
products) and the provision of services
(education, healthcare, and business
services).
GNP does not include the services used
Population Growth
In general, poorer countries have more rapid
rates of population growth thus affecting their
economic development in a way that there is an
unequal distribution of goods and services
especially among large, poor families.
As countries develop,
the occupational
Occupational
Structure
of the Laborstructure
Force
of the labor force changes. In least developed
countries, most people are engaged in primary
activities like agriculture, fishing, mining and
lumbering. In high income countries like the
United states most people are involved with the
tertiary sector like retailing, transportation,
education and banking. The better the labor
force opportunities signifies a more developed
country.
Urbanization
Urbanization is the percentage of a country's
population who live in urban areas. Urban areas
generally means in towns and cities of 2,500 or
more people. Currently just less than half of the
worlds population live in urban areas. Generally
as countries develop urbanization increases.
Infrastractures
A country's infrastructure is defined by our author as
"the foundations of a society: urban centers,
transport networks, communications, energy
distribution systems, farms, factories, mines, and
such facilities as schools, hospitals, postal services,
and police and armed forces."
For instance, the development of the transportation
system as a measure of its length per area of land has
a greater degree of economic development assumed
because of its transportation infrastractures.
Rank
1
2
3
4
5
6
7
8
9
10
Country
Switzerland
Singapore
United States
Finland
Germany
Japan
Hong Kong SAR
Netherlands
United Kingdom
Sweden
Value
5.7
5.6
5.5
5.5
5.5
5.5
5.5
5.5
5.4
5.4
Source: http://reports.weforum.org/global-competitiveness-report2014-2015/
Country
HDI Score
Norway
0.944
Australia
0.933
Switzerland
0.917
Netherlands
0.915
United States
0.914
Germany
0.911
New Zealand
0.910
Canada
0.902
Singapore
0.901
10
Denmark
0.900
Source: http://www.richestlifestyle.com/10-most-developedcountries-in-the-world/
Country
Qatar
$145,894
Luxembourg
$90,333
Singapore
$78,762
Brunei
$73,823
Kuwait
$70,785
Norway
$64,363
United Arab
Emirates
$63,181
San Marino
$62,766
Switzerland
$53,977
10
United States
$53,001
Source: http://mixtopten.com/top-10-richest-countries-for-2015/