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Development; 1-17

Development and Industry (Chapter 9,11)

TermDefinition
Development A process of improvement in the material conditions of people through diffusion of knowledge and technology
Human Development Index (HDI) Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy
Gross Domestic Product (GDP) The value of the total output of goods and services produced in a country in a given time period
Primary Sector 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
Secondary Sector Portion of the economy concerened with manufacturing useful products throguh processing, transforming, and assembling raw materials
Tertiary Sector Portion of the economy concerned with the transportation, communications, and utilities, sometimes extended to the proision of all goods and services to people in exchange for payment
Productivity The value of a particular product compared to the amount of labor needed to make it
Life Expectancy The average number of years an individual can be expected to live, given current social, economic, and medical conditions
Infant Mortality Rate The total number of deaths in a year among infants under 1 year old for every 1000 live births in society
Natural Increase Rate The percentage growth of a population in a year, computed as the crude birth rate minus the crude death rate
Crude Birth Rate The total number of live births in a year for every 1000 people alive in society
Gender-Related Development Index (GDI) Compares the level of women's development with that of both sexes
Gender Empowerment Measure (GEM) Compares the decision-making capabilities at men and women in politics and economics
Foreign Direct Investment (FDI) Investment made by a foreign country in the economy of another country
Transnational Corporation A corporation that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located
Structural Adjustment Program Economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade
SAP Such as raising taxes, reducing government spending, controlling inflation, selling publicy owned utilities to private corporations, and charging citzens more for services
Fair Trade Products are made and traded fairly and in a way that protects workers and small businesses in LDCs
Created by: 3163650
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