This chapter will focus on the notion of quality-of-life measures, livable cities and some social issues.<\/p>\n
In Geography, economic development analysis often focuses on a core-periphery global divide based on advanced technological economies versus less-developed countries (LDCs) or what is sometimes referred to as the Global South or the Third World.<\/p>\n
Economic development is measured based on a country's gross domestic product (GDP)<\/strong>, gross national income (GNI)<\/strong> and purchasing power parity (PPP)<\/strong>.<\/p>\n Gross domestic product<\/strong> (GDP) is usually used as an estimate of the total value of all materials, foodstuffs, goods and services that a country produces in one year. As GDP is a measure of commodities, the figure for each country is divided by the total population of the country in order to get the per capita GDP.<\/p>\n Gross national income<\/strong> (GNI) is a measure of the income that flows into a country from production no matter where in the world companies from that country may be operating.<\/p>\n P<\/strong>urchasing power parity <\/strong>(PPP) is the third important measurement of economic development. This tool calculates how much the local currency of a country can buy locally (i.e., what can you buy with CAD 20 in Canada compared with its equivalent in Colombia.<\/p>\n There are a number of other tools used to measure economic development and these are available in the resource section.<\/p>\n\n","rendered":" This chapter will focus on the notion of quality-of-life measures, livable cities and some social issues.<\/p>\n In Geography, economic development analysis often focuses on a core-periphery global divide based on advanced technological economies versus less-developed countries (LDCs) or what is sometimes referred to as the Global South or the Third World.<\/p>\n Economic development is measured based on a country’s gross domestic product (GDP)<\/strong>, gross national income (GNI)<\/strong> and purchasing power parity (PPP)<\/strong>.<\/p>\n Gross domestic product<\/strong> (GDP) is usually used as an estimate of the total value of all materials, foodstuffs, goods and services that a country produces in one year. As GDP is a measure of commodities, the figure for each country is divided by the total population of the country in order to get the per capita GDP.<\/p>\n Gross national income<\/strong> (GNI) is a measure of the income that flows into a country from production no matter where in the world companies from that country may be operating.<\/p>\n P<\/strong>urchasing power parity <\/strong>(PPP) is the third important measurement of economic development. This tool calculates how much the local currency of a country can buy locally (i.e., what can you buy with CAD 20 in Canada compared with its equivalent in Colombia.<\/p>\n There are a number of other tools used to measure economic development and these are available in the resource section.<\/p>\n","protected":false},"author":265,"menu_order":1,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-51","chapter","type-chapter","status-publish","hentry"],"part":50,"_links":{"self":[{"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/chapters\/51","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/wp\/v2\/users\/265"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/chapters\/51\/revisions"}],"predecessor-version":[{"id":266,"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/chapters\/51\/revisions\/266"}],"part":[{"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/parts\/50"}],"metadata":[{"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/chapters\/51\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/wp\/v2\/media?parent=51"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/pressbooks\/v2\/chapter-type?post=51"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/wp\/v2\/contributor?post=51"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/wp-json\/wp\/v2\/license?post=51"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}