GEOG 1HB3 Lecture Notes - Lecture 7: Informal Sector, Sidney Crosby
18 Dec 2017
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Development & inequality: measuring economic & social development. The world is marked by striking spatial variations in terms of well-being. These variations exist at numerous spatial scales. We refer to these variations in well-being in terms of levels of development; areas are considered along a continuum between more and less developed. Proxy measures: gdp per capita or gni per capita. Gni = income generated by citizens or companies of the country. Gni population = per capita gni - a measure of income. Gni or gdp: measures of the total value of all materials, food stuffs, goods, service, produced by a country for a particular year. E. g. developed countries have a higher gni than developing countries. September 29, 2017 - lecture #7: the formal economy and the informal economy, up to 80% of all economic activity in some countries b. Informal activity = cash jobs or tips: variations within a country (e. g. internal inequality, differences in cost of living.
