Methods of Development (Grade 11 NSC Matric Economics): Flashcards
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Economic development
Economic development
Raising living standards for everyone in a country
Beneficiation
Beneficiation
Processing raw materials before export to add value
Developing countries
Developing countries
Nations where people earn much less than wealthy countries
Per capita income
Per capita income
Average income per person
Direct capital investment
Direct capital investment
Purchasing modern machinery & equipment for production
Indirect capital investment
Indirect capital investment
Infrastructure: roads, bridges, ports, communication networks
Labour quality improvement focus
Labour quality improvement focus
Education in mathematics and science subjects
Benefits of entrepreneurship
Benefits of entrepreneurship
Creates jobs, improves living standards, increases variety
Developing countries' population challenge
Developing countries' population challenge
Rapidly growing populations strain food supplies
Four main development strategies
Four main development strategies
Natural resources, labour quality, capital, entrepreneurship