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Economically Advanced Economies
The EU is one of the most developed regions in the world.

Economically Advanced Economies

One of the topics studied in GCSE Geography is the different types of economies found in different parts of the world, such as LEDCs and emerging economies. This quiz focusses on economically advanced economies, or MEDCs

The United States of America, Japan and Western Europe are often seen as being the major players when discussing economically advanced economies, or MEDCs. These economies were built during the Industrial Revolution and have dominated the markets ever since. This has lead to somewhat of a north/south divide, with the bulk of the MEDCs being in the Northern Hemisphere (other than Australia and New Zealand, whose economies were initially built by the European market but have maintained a strong position due to having large amounts of natural resources).

There are a number of indicators that geographers use to assess the state of a country’s economy. There are a series of economic and non-economic factors that are often linked. Literacy rates directly link to the skills of the workforce, whilst nations with poor health care will lose members of society to disease and so will have far lower productivity rates.

Many economically advanced economies have a population that is proportionally older, as birth rates have fallen below 2.1 children per mother. This means that populations may start to shrink in the future and there are more retired people than there are people in the workforce. Migration tends to be from emerging economies into economically advanced economies. Some see this as a solution to the shrinking workforce, whilst others see the influx of migrant workers as being a drain on the economy as they send money home to their families, and some may be able to claim assistance from the local government. These economically advanced economies may rely on emerging economies to provide raw materials and primary sector industries as their own economies have become dominated by secondary and tertiary industries.

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What is the pattern of development in the EU?
All nations are developing at the same rate
Some nations are established, whilst others are still emerging
All nations are fully developed
All nations are developing into advanced economies
The EU comprises countries from both Western and Eastern Europe. As one of the most developed regions, Western Europe represents a huge proportion of the world's economically advanced economies. Eastern Europe on the other hand, has a number of developing nations
What are the spending priorities of an economically advanced economy?
Health and Education
Military expenditure
Paying off debts
Controlling internal conflicts
As economies develop, they look to improve the lives and skills of the population, rather than spending on the military and paying off their debts
What is GDP?
Gross domestic product - Total value of goods and services produced by the country in a single year
Greater domestic production - Total economic output of a country per year
Gross demographic product - Total output of the nation per capita (per person)
Greater disciplined production - The improvement of the national produce as the country develops
A larger GDP means there is more money to invest in improving the country, including education and health
Which of these nations is not seen as being economically advanced?
The UK
United States
China is an emerging economy - relatively low literacy rates, as well as various other unfavourable economic indicators, are countered by being a global mega power
What does economic structure measure?
The ratio between primary, secondary and tertiary sectors
The inequality between the richest and poorest sections of the population
The spending priorities of the government
The rate of economic growth
As a country develops, the skilled and financial sectors will improve, changing the ratio between these three sectors
What is the correlation between literacy and GDP per capita?
A weak, positive correlation
A strong, negative correlation
A weak, negative correlation
A strong, positive correlation
A skilled workforce allows for people to undertake more skilled jobs and so increase their economic outputs. Also, as a country's GDP rises it has more money to spend on education, in turn increasing literacy
How will birth and death rates change as economies become more developed?
Birth rates and average life expectancy will both go up
Birth rates will go up and average life expectancy will go down
Birth rates and average life expectancy will both go down
Birth rates will go down and average life expectancy will go up
There is a direct correlation between birth rates and female literacy rates - so as the nation develops birth rates fall. At the same time, better health care and security mean that average life expectancy increases, helped in part by a reduction in infant mortality
Why is the inequality in wealth an important measure of a country's economic development?
The greater the inequality, the faster the economy can grow due to very rich individuals
Inequality can hinder growth as the poorer members of society struggle with poverty
A society is more advanced if everyone has equal wealth
Inequality is a minor measure in economic growth
Nations whose wealth inequality is pronounced are more likely to have a large proportion of the population living below the minimum standards required for a country to grow and prosper
Inflation is a measure of how much the prices of goods, services and wages rise each year. Why does high inflation show that the economy is not developed?
Only newly formed economies show high levels of inflation
High inflation shows the government does not have control of the economy
If rapid inflation occurs the goods will become cheaper for people to buy
High inflation means that the GDP is going up rapidly
Inflation can be a huge problem if it goes out of control, devaluing the country's economy and making it unattractive to investors
What is the Human Development Index?
A measure of how an individual human can help the economy grow
The factors that lead to deaths and influence life expectancy
A measure of the non-economic aspects of a country's economy
The measure of how a government treats its population
There are a wide number of measurements in the HDI, including access to education, risk of disease and infant mortality rates
Author:  Ruth M

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