3.03( - 07).08 lecture

3.03( - 07).08 lecture - GEO 101 Mar. 3rd & 5th Notes...

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GEO 101 Mar. 3 rd th Notes Development From Above-Statistical Indicators, Acronyms, and Activities GNI, UNDP Human Development Index, and other such statistical measures Activities-primary, Secondary, Tertiary, and Quaternary First, a primer on formal and informal economies o Formal economy: economic activities regulated by economic and legal institutions Formal Economy examples: gov’t jobs, multinational corporation jobs, small, private firm jobs…in other words, any job were taxes are paid, work is regulated, and statistics/data can be shown Key Point: these are the jobs we (US residents) are used to being employed in o Informal economy: unregulated economic activities; lacking oversight by government or legal institutions/not taxed by government Informal economies activities: hairdressing, coffee/cigarette stand operation, motorbike driver, truck driver, seamstress, tour guide, cleaner, runner, fisherman Key Point: non-Western people often work in both the formal and informal sectors Gross Domestic Product (GDP): an estimate of the total value of all materials, food, goods and services that are produced by a country in a particular year
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o Biggest criticisms: so much of the developing world’s production is informal, or off the record and books. Secondly, so much of the developing
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3.03( - 07).08 lecture - GEO 101 Mar. 3rd & 5th Notes...

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