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AP HUGE Chapter 9 and 11 vocab
AP Huge Chapter 9/11
Terms in this set (33)
Developed Country/ More Developed Country
A country that has progressed relatively far along a continuum of development.
Developing Country/ Less developed Country
A country that is at a relatively early stage in the process of economic development.
A process of improvement in the material conditions of people through diffusion of knowledge and technology.
means that products were made and traded according to standards that protect workers and small businesses in LDCs.
Foreign Direct Investment
Investment made by a foreign company in the economy of another country.
Gender Empowerment Measure
Compares the ability of women and men to participate in economic and political decision-making.
Gender-Related Development Index
Compares the level of development of women with that of both sexes.
Gross domestic product
The value of the total output of goods and services produced in a country in a year.
Human Development Index
An indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy.
The percentage of a country's people who can read and write.
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.
The value of a particular product compared to the amount of labor needed to make it.
Relatively developed country
Progressed further along in the development continuum.
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
Structural Adjustment Program
an outline of economic goals, strategies for achieving the objectives, and external financing requirements that an LDC must present to be granted debt relief from the IMF or World Bank.
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.
A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.
The gross value of the product minus the cost of raw materials and energy.
A location where transfer is possible from one mode of transportation to another.
An industry in where the final product weighs more or comprises a greater volume than the inputs.
An industry in which the final product weighs less or comprises a lower volume than the inputs.
Manufacturing base in homes rather than in a factory, commonly found before the Industrial Revolution.
Form of mass production in which each worker is assigned one specific task to perform repeatedly.
A series of improvements in industrial technology that transformed the process of manufacturing goods.
An industry for which labor costs makes up a high percentage of total expenses.
Factories built by U.S companies in Mexico near the U.S. border, to take advantage of much lower labor costs in Mexico.
New international division of labor
The selective transfer of some types of jobs, especially those requiring low-paid, less-skilled workers, form more developed to less developed countries.
Allocating production to low-wage countries.
The new more flexible work rules in factories that emphasize teams, problem solving, and leveling.
require factories to maintain an "open shop". It cannot be a condition of employment that a worker must join the union to work at the company.
the unique characteristics of a location such as land, labor, and capital.
involve transporting materials to and from a factory.
A fabric made by weaving, used in making clothing.
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