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economic geography

studies the impact of economic activities on the landscape and investigates 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

less developed countries

have not experiences industrialization

newly-industrializing countries

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

Gender-Related Development Index

compares the level of development of women with both sexes

Gender Empowerment Measure

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

Foreign direct investment

investment made by foreign company in the economy of another country

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 parity

what money actually buys within different countries

sustainable development

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

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