Economics（monthly exam）

IG section 5五月考试冲刺冲冲冲

Economics monthly exam By 0+1

• Section 5
  • Living standards
    • Indicators of living standards
      • HDI
      • Real GDP Per head
    • Advantages and disadvantage s of real GDP per head
      • Advantages
        • Take account into price level and population
        • Among measure of material living standards
      • Disadvantages
        • Income is un evenly distributed
        • Informal market
        • Demerit good will not improve peoples living standards
    • Advantages and disadvantages of HDI 
      • Advantages
        • A wider measure than the real GDP per head
        • Shows that economic growth and the human progress may not always match
      • Disadvantages
        • Does not take into your account political freedom and the environment
        • Does not consider differences in life expectancy education and differences in income between males and females in between those living in rural and urban areas among other groups
    • Causes of differences in living standards and income and wealth inequality
      • Uneven holdings of wealth
      • Differences in the composition of households
      • Differences in the opportunity and ability to earn an income
      • Difference in the sense inherited by people their savings and entrepreneurial skills
  • Poverty
    • Absolute poverty A condition where peoples income is too low to enable them to meet their basic needs
    • Relative poverty A condition where people are poor in comparison to others in the country they are income is too low to enable them to enjoy the average standard of living in their country
    • Causes of poverty
      • Being unemployed
      • Being in low paid work
      • Falling ill
      • Growing old
    • The policies to alleviate poverty and redistribute income
      • Improving education
      • Introducing all racing a national minimum wage
      • Encouraging more multinational companies to set up in the country
      • Providing benefits or more generous state benefits
      • Promoting economic growth
  • Population
    • Factor that affect population growth
      • High Birth r ate
        • Young Average age the population in which Women marry young
        • Infant mortality rate is high
        • Women are not well educated
        • Most women do not work
        • It is cheap to bring up children
        • Lack or disapproval of family planning
        • Government cash incentives to have children
        • A lack of government help to care for the sick and elderly
      • Low death rate
        • Healthy diets
        • Good housing facilities and access to high-quality medical care
        • Don't consume demerit good
        • Exercise regularly
        • Enjoy good working conditions
        • No wars
      • net migration
        • Persecution of particular groups
        • Extent of control on the movement of people
        • Relative living standards at home and abroad
    • Effects of an increase in population
      • Make better use of its resources
      • Size of markets will increase
      • Increase in fact or mobility
      • A rise in the labour force
      • Concerns about famine
      • Restrictions on improvements in living standards
      • Overcrowding
      • Environmental pressure
      • Pressure on employment opportunity
      • Balance of payments pressures
    • Ways to reduce b irth rates
      • Improvement of healthcare and nutrition
      • Raise costs of having a children by raising school leaving age
      • Make it illegal to have children above a specified number
    • Consequences of an aging population
      • A rise in the dependency ratio
      • A change in the labor force
      • Higher demand for healthcare
      • Greater need for welfare services
      • Rising costs of state and a private pensions
      • Change in demand pattern
  • Different living standards between countries
    • Causes of differences in economic development between countries
      • Differences in income per head
      • Differences in saving due t o differences in income per head
      • Differences in investment
      • Differences in population growth
      • Differences in education and healthcare
      • Differences in the size of the primary secondary and tertiary sectors
    • The impacts of differences in economic development between country (low)
      • High levels of international debt
      • Reliance on the export of primary product
      • Lack of investment in human capital and capital good
      • Emigration of key workers
      • Trade restrictions on their products
      • Unbalanced economy
      • High growth of population