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Economic geography

studies the impact of economic activities on the landscape and investigate reasons behind the locations of economic activities.

Economic development

the process of improving the material conditions of people through diffusion of knowledge and technology.

More developed countries

have experienced industrialization (MDCs)

Less developed countries

have not experiences industrialization (LDCs)

Newly-industrializing countries

are sub-category of LDC

compressed modernity

rapid economic and political change that transformed the country into a stable nation with democratizing political institutions, a growing economy, and an expanding web of nongovernmental institutions.

Capitalist world economy

a global economic system that is based on high- income nations with market economies.

Human development index

created by the United Nation; recognizes that a country's development is a factor of economic, social, and demographic factors (HDI)

Gender-Related development index

compares the level of development of two women with both sexes (GDI)

Gender Empowerment measure

compares that ability of women and men to participate in economic and political decision making (GEM)

Foreign direct investment

investment made by foreign company in the economy of another country (FDI)

Transnational corporation

invest and operates in countries other than the one in which its headquarters are located

Fair trade

products are made and traded according to standards that protect workers and small businesses in LDCs

Purchasing Power Party

what money actually buys within different countries (PPP)

Sustainable development

an attempt to address the issues of social welfare and environmental protestion within the context of capitalism and economic growth.

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