Economic Development Key Terms
Terms in this set (40)
Gross Domestic Product (GDP)
The total value of goods and services a country produces in a year.
GDP per capita
GDP divided by the total population.
The number of live babies born per 1000 people per year.
The amount of deaths per 1000 people per year.
Infant Mortality Rate
The number of babies who die under 1 year old, per 1000 babies born.
People per doctor
The average number of people for each doctor.
The % of adults who can read and write.
Access to safe drinking water
The % of people that can get clean drinking water.
The average age a person can expect to live to.
Physical Quality of Life Index (PQLI)
A number that is calculated using life expectancy, literacy rate and infant mortality rate.
Human Development Index (HDI)
A number that is calculated using life expectancy, literacy rate, education level and income per head.
First World countries
Rich countries with lots of manufacturing. E.g: USA, UK, western Europe, Australia and Japan.
Second World countries
Communist countries with lots of manufacturing. E.g: eastern Europe, Poland, Russia and China.
Third World countries
All other countries not yet classified as first or second world countries. It was abolished however as it was disrespectful to label them in this way.
Most Developed Countries (MDCs)
The most developed countries in the world E.g: UK, Norway, USA, Canada and France.
Newly Industrialising Countries (NICs)
Countries that are rapidly getting richer as their economy is moving from being based on primary industry to secondary industry. E.g: China, India, Brazil, Mexico and South Africa.
Middle Income Countries (MICs)
Countries that are not really poor or aren't rich either. They are developing quickly but not as quickly as NICs. E.g: Albania, Bulgaria and Poland.
Least Developed Countries (LDCs)
The world's poorest countries with the lowest QOL. E.g: Ethiopia, Chad and Angola.
Shows the divide of the rich countries to the north and the poorer countries to the south, however it only measures wealth and is outdated.
The country which gives the aid.
The country which receives the aid.
Aid given directly to the recipient.
Aid given indirectly through an international organisation (donations).
Money or resources to help recipient countries cope during emergencies e.g. flooding
Money or resources to help recipient countries to develop e.g. dams and wells for clean water supplies.
Collecting raw materials e.g farming, fishing, mining and forestry.
Turning a product into a another product (manufacturing). e.g making textiles, furniture, chemicals, steel and cars.
Providing a service e.g. financial services, nursing, retail, police force, public transport.
Researching and developing technology and products.
Growing just one type of crop
A change in weather of an area over a long period
Gases that trap heat e.g. carbon dioxide and methane.
Further away from the equator
Closer to the equator.
An international agreement signed by most countries in the world to monitor and cut greenhouse gases.
The process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange.
Multinational Companies (MNCs)
An organisation that owns or controls production of goods or services in one or more countries other than their home country.
A measure of development. Can be economic (GDP) or social (life expectancy) or a combination (PQLI/HDI).
Growth/increase of importance of manufacturing industries.
Concept stating that once successful business grows in an area, other businesses will benefit and expand as well.