Notes on Urbanization and globalization

Lesson 1: Introduction

Objectives: Understand what is meant by development and how development is measured.

Understand what is GDP, how to calculate GDP and Why GDP is useful.

Determine the relationship between GDP and standard of living.

Describe the poverty cycle

Vocabulary words:

Development; process of growth or change. GDP; Gross Domestic Product. Inflation; the decline in the
value of money. GNI; Gross national income is the sum of a country's gross domestic product (GDP) plus
net income from abroad. It represents the value produced by a country's economy in a given year. HIC;
high income countries. LIC; low-income countries.

Methodology: Development is a process that creates growth, progress, positive change or the addition
of physical, economic, environmental, social and demographic components. The purpose of
development is a rise in the level and quality of life of the people, and the creation or expansion of local
regional income and employment opportunities, without damaging the resources of the environment.

Development is necessary for the following reasons; For Improvement in quality of life: Development
helps in making things easier, simpler quicker and faster in life of human beings. It also improves living
standards. So, it improves quality of life.

Economic growth: When developmental activities take place, it improves infrastructures. People,
business and industries use those infrastructures and thrive. Thus, the economy also booms.

For Universal progress: Development is a dynamic process of positive change in any aspects of the
world. So, it is necessary for progress in every sector imaginable.

Questions to ponder upon:

What is local regional income?

How can you earn/make a living, without damaging the resources of the environment?

How is Development measured?

Watch the link pasted below carefully and see if you can answer the questions.

https://youtu.be/rl_qavE8hNw

Now let us view this simple video to help us understand what GDP is and how it is linked with
development: https://youtu.be/hBqWRayc1kE

In context with the above-mentioned topics let us now have a look at what the poverty cycle is and how
that is connected to the development of a country: https://youtu.be/KxjW-HU1BCM