Economic Characteristics of Different Countries (VCE SSCE Health and Human Development): Flashcards
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Primary production
Primary production
Process of producing natural products like plants and animals
Subsistence farming
Subsistence farming
Self-sufficient farming to provide food for family
GNI (Gross National Income)
GNI (Gross National Income)
Total value of goods/services citizens produce, incl. overseas
World Bank classification basis
World Bank classification basis
GNI per capita (average income)
Four income categories
Four income categories
High, upper middle, lower middle, low income
Extreme poverty threshold
Extreme poverty threshold
Living on less than US$1.90 per day
% workforce in agriculture (high-income countries)
% workforce in agriculture (high-income countries)
Approximately 3%
% workforce in agriculture (low-income countries)
% workforce in agriculture (low-income countries)
Up to 70% or higher
Three categories of country characteristics
Three categories of country characteristics
Economic, social, environmental
GDP (Gross Domestic Product)
GDP (Gross Domestic Product)
Value of goods/services produced in a country over 12 months