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Chapter 9 - Development
Terms in this set (33)
The process of improving material conditions through the diffusion of knowledge and technology.
Alternative to international trade that emphasizes small businesses,worker-owned, fair wages, permits unions, and comply with safety and enviromental precautions.
Gender Inequality Index
Measure of each country's gender inequality that combines measures of empowerment, labor force participation and reproductive health.
Gross Domestic Product
The yearly value of total output of goods and services produced in a country.
Human Development Index
Indicator of development of each country using income,literacy, education, and life expectancy.
Less Developed Country
A country that is in the relatively early side of economic development.
Percentage of a countries population that can read and write.
Millennium Development Goals
8 international development goals that united nations agree to achieve by 2015.
More Developed Country
A country that has progressed relatively far along a continuum of development.
Part of economy involved in direct extraction of raw materials from earths surface. (agriculture, mining, fishing).
Value of a particular product compared to the amount of labor needed to make it.
Part of economy that transforms raw materials into useful products by manufacture.
The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.
The gross value of the product minus the costs of raw materials and energy.
Core-Periphery Model / Wallerstein Model
A model that describes how economic, political, and/or cultural power is spatially distributed between dominant core regions, and more marginal or dependent semi-peripheral and peripheral regions.
Geographic separation between the largely democratic and free-market countries of Western Europe and the Americas from the communists and socialists countries of Eastern Europe and Asia.
Foreign Direct Investment
Investment made by a foreign company in the economy of another country.
A measure of the opportunities given to women compared to men within a given country.
An alliance of two or more countries seeking cooperation with each other without giving up either's autonomy or self-determination.
Net National Product
A measure of all goods and services produced by a country in a year, including production from its investments abroad, minus the loss or degradation of natural resource capital as a result of productivity.
The economic division between the wealthy countries of Europe and North America, Australia and Japan and generally poorer countries of Asia Africa and Latin America.
Developing countries of the world economy; economy is usually focused on harvesting raw materials (coal, lumber, etc.) or natural products (farming, fishing, etc.).
The process by which specific regions acquire characteristics that differentiate them from others within the same country; certain economic activities may dominate in particular regions.
Places where core and periphery processes are both occurring; places that are exploited by the core but in turn exploit the periphery.
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.
Self-sufficiency path to development
Countries encourage domestic production of goods, discourage foreign ownership of businesses, and protect their businesses from international competition
International trade path to development
Countries open themselves to foreign investment and international markets.
Five stage model of development where countries go through the stages of: traditional society, preconditions for takeoff, takeoff, drive to maturity and the age of mass consumption.
Provides loans to countries to support development projects, banks and government/legal institutions.
International Monetary Fund (IMF)
Provides loans to countries experiencing balance-of-payment (debt) problems and to support international trade.
World Trade Organization
Tries to reduce barriers to international trade by working to eliminating trade restrictions (quotas, tariffs, etc.) and eliminating restrictions on the international movement of money.
Small loans given to people in the developing world to support small-scale development projects and businesses (micro-enterprise)
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