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Terms in this set (25)
Gross National Product
Total value of all goods and services produced within a year. Similar to GDP & GNI. All terms for national income
Real GNP (PPP)
GNP corrected for prices/cost of living in the country (purchasing power parity)
Human Development Index
Socio-economic index for the quality of life. 0-1 scale.
Advanced countries, high-income countries.
Emerging and developing countries, middle income countries.
Low income developing countries; GNP per capita below approx. $1500 per capita. about 45 countries.
Oil producing and exporting nations; a cartel.
Divides richer northern continents from poorer southern ones outdated.
Trade within a nation
Trade across national borders
Trade between continents/ major regions
Trade within continents/ major regions
Trade in capital
Currency, stocks and shares, foreign direct investment
Trade in goods that can be measured through poets etc.
Trade in services that cannot be measured through ports; intangible products
Amount of trade; value of trade flow
Balance of trade
Difference between value of exports and value of import can be surplus or deficit.
Relative proportion of people employed in different sectors of the economy.
New international division of labour
The growing importance of manufacturing in middle and lower income countries and services in advanced countries.
The global shift
The mechanism by which NIDL has come about; the transfer of manufacturing industry from advanced countries to EDCs and LIDCs.
EDC with rapid economic growth
EDC with rapid economic growth and wealthier population to sell goods and services to.
NIC - countries with rapid economic growth based on manufacturing exports, from 1960s onwards; Hong Kong, Taiwan, South Korea and Singapore
Recently industrialised country
RIC - countries with rapid economic growth based on manufacturing exports, from 1980s onwards; China, Malaysia, Thailand, Brazil etc.
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