AP Human Geography Unit 5

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Development

act of improving by expanding or enlarging or refining

Fair Trade

promoting sustainability. The movement advocates the payment of a fair price as well as social and environmental standards in areas related to the production of a wide variety of goods.

Foreign Direct Investment

a joint venture between a foreign company and a United States company

Gender Empowerment Measure (GEM)

Compares the ability of women and men to participate in economic and political decision making.

Gender Related Development Index (GDI)

Compares the level of development of women with that of both sexes.

Gross Domestic Product (GDP)

measure of the United States economy adopted in 1991

Gross National Product (GNP)

former measure of the United States economy

Gross National Income (GNI)

The amount of money earned by everone in a country

Purchasing Power Parity (PPP)

a measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country

Human Development Index (HDI)

measure used by the united nations that calculates development not in terms of money or productivity but in terms of human welfare. the HDI evaluates human welfare based on three parameters: life expectancy, education, and income

Informal Sector

the portion of an economy largely outside goverment control in which emoloyees work without contracts or benefits

Economy

an act of economizing

Primary Sector

the portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry

Secondary Sector

the portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials

Tertiary Sector

the portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and servicesto people in exchange for payment

Quaternary Sector

process and distributes information

Quinary Sector

Tertiary sector businesses that provide services that are tradionally performed in the home

Productivity

(economics) the ratio of the quantity and quality of units produced to the labor per unit of time

Value Added

the difference between the cost of inputs and the value or price of output

International Trade

exchanging goods and services between countries

Transnational Corporation

A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.

Conglomerate Corporation

A large firm comprised of many smaller firms

Special Economic Investment

region that offers tax breaks and loosened labor restrictions in LDCs to attract

Export Processing Zone

areas where governments create favorable investments and trading conditions to attract export-oriented industries

Development Gap

the widening difference between development levels in MDCs and LDCs

Dependency Theory

is a body of social science theories, both from developed and devPoor nations provide a destination for obsolete technology, and markets to the wealthy nations, without which the latter could not have the standard of living they enjoy.eloping nations, that are predicated on the notion that there is a center of wealthy states and a periphery of poor, underdeveloped states. Resources are extracted from the periphery and flow towards the states at the center in order to sustain their economic growth and wealth. A central concept is that the poverty of the countries in the periphery is the result of the manner of their integration of the "world system", a view to be contrasted with that of free market economists, who argue that such states are progressing on a path to full integration. The premises of dependency theory are:First World nations actively, but not necessarily consciously, perpetuate a state of dependence through various policies and initiatives. This is multifaceted, involving economics, media control, politics, banking and finance, education, culture, sport, and all aspects of human resource development. Attempts by the dependent nations to resist the influences of dependency often result in economic sanctions and/or military invasion and control. Many dependency theorists advocate social revolution to effect change in economic disparity.

Rostow's Modenization model of development

Liberal development model that says all countries follow a similar path of

Self-Sufficiency Approach

Way to develop that focuses on a country being able to provide for its own

New Industrial Countries

countries that have recently established an industrialized economy based on

Asian Tigers

newly industrialized countries of the late 20th century—Taiwan, South

Pacific Rim Economic Region

The four Asian tigers, plus China, Japan, Malaysia, Indonesia. Economic

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