Development

Lorenz Curve The Lorenz curve is a graphical representation of the distribution or equality of something. The straight line from (0,0) to (100,100) shows perfect equality, whereas the line from (0,0) to (0,100) shows perfect inequality. The line drawn between these two lines is the actual measurement. The graph (shown above) shows the distribution of … Read more

Rostow’s Model Rostow’s ‘stages of economic growth’ model shows five crutial stages in the development of a country. The first stage in the model is traditional society, this is where the countries’ population use primitive technology and their trade is still based on bartering. The second stage, names preconditions for take-off, means the country has … Read more

The UNDP (UN development programme) describes development as: ‘the three essentials of development include the ability to lead a long and healthy life, to acquire knowledge, and to have a decent standard of life’. Some people also believe that the political health of a country is an important factor in its development, which includes freedom … Read more