The total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including of those located abroad), minus the income of non-residents located in that country.
Gross Domestic Product
The total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports (and minus the value of imports).
Gross National Income per Person
The gross national income divided by the mid-year population of a country.
Human Development Index
A composite statistic used to rank countries in terms of their 'human development' based on life expectancy, education and per-capita GDP data.
The number of live births per thousand population per year, expressed as births per thousand (‰).
The number of deaths per thousand population per year, expressed as deaths per thousand (‰).
Infant Mortality Rate
A measure of the number of infants dying under one year of age, expressed as the number of deaths per thousand live births per year.
Adult Literacy Rate
The percentage of population aged 15 years and over who can both read and write with understanding a short simple statement on his/her everyday life.
People per doctor
Often referred to as doctors per thousand people, this is a measure of the size of the population served by a single doctor in an area/country.
Access to safe drinking water
The proportion of the population (urban and rural) with access to an improved drinking water source as their main source of drinking water.
Physical Quality of Life Index
The average of three social indicators (literacy rate, life expectancy and infant mortality rate) to give a more complete picture of a person's quality of life.
When two countries join together to stimulate trade between themselves and to obtain other benefits from economic co-operation.
A group of countries that share trade agreements between each other.
Custom unions which, in addition to free trade in goods and services, also allow the free movement of labour and capital.
All members have to operate a common external tariff on imports from a non-member country.
All involved countries have common economic policies on things such as agriculture, transport, industry and regional policy.
A system whereby agricultural producers in countries at lesser stages of development are paid a decent price for their produce, all to attain a higher standard of living.
To buy a raw material/product from another country.
To see a raw material/product to another country.
A trade tariff is a set amount which is charged on products which are imported.
These limit imports so that domestic consumers buy products made by their countries in their region.
This slows down the ability for the imported product from abroad to enter the domestic market.
Government financial assistance towards sectors of the home economy so that they have an influx of capital.
This is money borrowed in quantities beyond the governments' political ability to repay.
Developing countries debt
This is external debt incurred by the governments of developing countries.
Very small loans that help the poor start small businesses and earn income in order to help them move from survival mode to actual life planning.
The cancellation of debt in exchange for something else which relieves developing countries of debt in return for commitments to invest in local conservation initiatives affecting local ecosystems.
When multilateral organisations and governments work together to reduce to sustainable levels the external debt burdens of the most heavily indebted poor countries.
Charitable aid (NGOs)
Charities give aid, usually to fund small scale community projects. The money for this aid is generated though public generosity/government grants.
Short term aid
Emergency aid - charities and governments send short term aid after a natural disaster to help the country recover.
Long term aid
This aid aims to help the country develop in the future, by introducing schemes to help things such has healthcare and education. Many NGOs are involved in these schemes.
Bilateral (Conditional) aid
Given by a donor country (MEDC) to a recipient country (LEDC) to finance projects in that country. In return the recipient country usually has to agree to buy certain products from, or conform to an agreement with, the donor country.
More developed countries give money to central international organisations such as the World Bank and the World Health Organisation. These then decide when and where the money will be spent.
IB Geography: Disparities in Wealth and Development64 terms