Development

Definition: The process of change that improves the quality of life of the people living in a society based on material wealth


GOALS
1.Improving the economy of the country (wealth)
-Diversifying(expanding) secondary(high-tech manufacture) and tertiary(service industries)
-Practising high-tech farming
-Increasing exports to foreign countries

2.Raising the quality of life of the people
(People are able to go beyond their basic needs)
Rising affluence = Better quality of life
Citizens receive high income


STAGES OF DEVELOPMENT

STAGE 1: TRADITIONAL SOCIETY
-low tech
-subsistence farming
-low level of saving
-poor tranport system

STAGE 2: PRECONDITIONS FOR TAKE-OFF (like plane, except it's development)
-primary industry commercialised, most products export
-growth of an urban system, transport network, supporting infrastructue
-standard of living slowly rising
-a bit of tech progress
-1,2 industires developed

STAGE 3: GRADUAL INDUSTRIALISATION
-Commercial farming
-Rapid growth of modern secondary industry
-Development of tertiary industry
-More technology to improve industrial productivity
-Better Transport and communication system
-Increase in urban population and rapid improvement in the standard of living

STAGE 4: drive into maturity
- rapid economic growth
-modern tech
-secondary industry well established
-older industries may decline; new one appear&expand
-primary industry less important
-rural areas suffer depopulation
-transport facilites more complex
-rapid urbanization
-standard of living still go up

STAGE 5: AGE OF HIGH MASS CONSUMPTION
-rapid expansion of services
-rapid growth of urban centres
-production of more luxury goods; people's consumption level rise above basic needs
-high standard of living


ECONOMIC FACTORS

1.Exploitation of natural resources
2.Transport and communication facilities
3.Industrial development
4.Employment data
5.Commercial energy consumption

GDP
-net income of all residents of country in a give year
-from production of good n services & overseas employment & incomes gained thru investments abroad

GNP per capita is an average income of each member of the population