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Chapter 9 vocabulary

TermDefinition
Adolesent fertility rate The number of births per 1,000 women aged 15-19
Developed country A country that has progressed relatively far along a continuum of development
Developing country A country that is at a relatively early stage in the process of economic development
Development A process of improvement in material conditions of people through diffusion of knowledge and technology
Fair trade An alternative to international trade that emphasizes small businesses and worker-owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organizing, and comply w/ minimum environmental and safety standards
Female labor force participation rate The percentage of women holding full-time jobs outside of home
Foreign Direct Investment (FDI) Investment made by a foreign company in the economy of another county
Gender Inequality Index (GII) An indicator constructed by the UN to measure the extent of each country's gender inequality
Gross Domestic Product (GDP) The value of the total output of goods and services produced in a country in a year, not accounting for money that leaves and enters the country
Gross National Income (GNI) The value of the output of goods and services produced in a year, including money that leaves and enters the country
Human Development Index (HDI) The UN's indicator of the level of development for a country, which is a combination of income, education, and life expectancy
Inequality-adjusted HDI (IHDI) An indicator of the level of development for a country that identifies the HDI to account for inequality
Literacy Rate The percentage of a country's people who can read and write
Microfinance Provision of small loans and financial services to individuals and small businesses in developing countries.
Primary Sector
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
Productivity The value of a particular product compared to the amount of labor needed to make it
Purchasing Power Parity (PPP) The amount of money needed in one country to purchase the same goods and services in another country; PPP adjusts income figures to account for differences among countries in the cost of goods
Secondary Sector The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials
Value Added The gross value of a product minus the costs of raw materials and energy
Srructural Adjustment Program Economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade
Tertiary Sector The portion of the economy with the transportation, communications, and utilities extended to the provision of all goods and services to people in exchange for payment
Created by: accident_prone