Chapter 17 Developing Countries.pptx - Chapter 17:...

Chapter 17: Developing
Countries

Importance of Economic
Development
•
Can help lift
millions of people out of
poverty
•
Usually leads to improvement of
humanitarian concerns

Stages of Economic Development
1.Primitive Equilibrium : No formal
economic organization; traditional
economies (Example: Inuit peoples of
northern Canada)
2.Transition : Break from traditional
economy; involves changing of cultural
traditions
3.Takeof : Society begins to grow more
rapidly
•
Society begins to save and invest more
income

4. Semidevelopment : National income
begins to grow faster than population
5. High Development : Final stage;
basic needs of society met
•
Society turns to producing
consumer goods and services
•
Provides more public goods
•
Less industrial production,
advanced manufacturing sectors

* You don’t have to write this in your
notes!*
Compare how developed these
countries are compared to others - they
had a head start!

Obstacles to Development
1.Population Growth : If population grows