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14 terms

Chapter 9 Rubenstein

STUDY
PLAY
development
a process of improvement in the material conditions of people through diffusion of knowledge and technology
Gender Empowerment Measure (GEM)
compares the ability of women and men to participate in economic and political decision making
Gender-Related Development Index (GDI)
compares the level of development of women with that of both sexes
Gross Domestic Product (GDP)
the value of the total output of goods and services produced in a country in a given time period (normally one year)
Human Development Index (HDI)
indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy
Less developed country (LDC)
also known as a developing country, a country that is at a relatively early stage in the process of economic development
literacy rate
the percentage of a country's people who can read and write
More developed country (MDC)
also known as a relatively developed country or developed country, a country that has progressed relatively far along a continuum of development
primary sector
the portion of the economy concerned with the direct extraction of materials from the Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry
productivity
the value of a particular product compared to the amount of labor needed to make it
secondary sector
the portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials
structural adjustment program
economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade, such as raising taxes, reducing government spending, controlling inflation, selling publicly owned utilities to private corporations charging citizens more for services
tertiary sector
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
value added
the gross value of the product minus the costs of raw materials and energy