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Emerging Economies

The different types of economies, such as MEDCs or LEDCs, form a major topic in GCSE Geography. This quiz focusses on the emerging economies (or emerging markets) of countries like China or India.

You should have heard the terms less economically developed countries (LEDCs) and more economically developed countries (MEDCs) by now. But now there is a new term to grapple with - emerging economies. The terms 'less' and 'more' are seen as not allowing for economies that are moving from one to the other. Economies that are developed, but not as established as the economies of Western Europe, the United States and Japan. As a nation develops it moves through a series of stages, from LEDC to MEDC. Those nations that are moving through these stages are emerging economies, sometimes referred to as emerging markets.

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As an MEDC, the UK often looks to these emerging economies as a market to export goods and services to. As standards of living increase, so does the demand for consumer goods that have been long established in economically advanced economies. This can include greater car use, more luxury goods like smartphones and personal computers, more demand for designer brands such as Burberry, and a massive increase in energy use due to the increase in electronic items.

India and China are considered the largest two emerging markets, and as their economies grow their need for goods and services grows too. With around one fifth of the world’s total population living in China and only slightly less living in India, the growing needs of these two nations will have a huge impact on the world's supplies - and also on the attempts to stop the increase in carbon dioxide output as their energy use increases. It is seen as the role of economically advanced nations, or MEDCs, to help reduce the impacts on the planet of these up and coming economies.

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  1. Which of the following is not an economic development indicator?
    Life expectancy is influenced by a host of factors, including health, security and access to health care. But nations with high life expectancies are also nations more likely to be advanced economically
  2. Which of the following is an indication of an economically advanced economy, rather than an emerging economy?
    The literacy rates in India are as low as 60%, whilst this rises to 99% in the UK
  3. Which of the following is a reason that climate may influence a nation's economy?
    These diseases can limit people's life span or reduce their ability to work and take care of their family. Disease can have a bad effect on an entire family's chances of education
  4. How is the economic core of a nation defined?
    Often in emerging economies there is inequality internally with some areas having greater growth than others
  5. Why might some LEDCs' economies grow slower than others?
    Many African nations have heavily borrowed from the World Bank and other institutions. These debts will be the focus of spending rather than health and education that can help the economy grow. Many of the slowest developing economies have access to raw materials including gold, oil, and diamonds, whilst the two fastest emerging economies have the largest populations
  6. As emerging economies grow they will start to use energy at a higher level. This will increase their production of greenhouse gases and so contribute more to global warming. What can economically advanced nations do to slow the rise in greenhouse gas emissions?
    Many of the technologies being used today use a far lower amount of energy than their older predecessors, and so can reduce energy use worldwide. Since a lot of our products are made in these emerging economies, they already have access to them - although many may find they are out of their price range
  7. Why are literacy rates a measure of a nation's development?
    Egypt has a GDP/person of around $4000, and a literacy rate of less than sixty percent, whilst the USA has a GDP/Person of around $26,000 and a literacy rate in the high ninty percent range.
  8. Which of these is not a reason that a landlocked nation may struggle to improve their economy?
    Hurricanes are more of a coastal or 'island nation' problem, but shipping and technology are huge parts of the economy for emerging and advanced economies
  9. Which sector of industry dominates emerging economies?
    Primary industries can make use of a low skilled work force and can operate at lower costs in areas with less stringent regulations
  10. Many emerging economies rely on aid from other nations and charities. Sometimes this aid is tied to trade agreements. What is an advantage of tied aid to the donor country?
    Some cases of tied aid have stated that the receiving country purchases arms and weapons from the donor country, effectively making this a loan rather than a donation. Charities may also state that aid is only available to certain people, based on religion, gender, age, race etc.

Author: Ruth M

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