POL 1025 Study Guide - Final Guide: Millennium Development Goals, Microcredit, Comparative Advantage
30 Sep 2013
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Demographic transition: the pattern of falling death rates, followed by fallen birthrates, that generally accompanies industrialization and economic development. Relevance: this reduces pressure for agricultural production and gives the flexibility needed to industrialize, which helps to increase southern economies and reduce the ns gap. Dualism: occurs when an economy is split, and one part of the economy is thriving, while the rest is still very underdeveloped; there is no spillover between the two enclaves in the economy. Relevance: the successful part of the economy can falsely make it appear that the country is not struggling and that the. Terms of trade: refer to how much a country is getting paid for their exports in comparison to how much the are paying for imports. If a country is getting more for their exports than they are paying for their imports, then they have good terms of trade.
