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Development; 1-17
Development and Industry (Chapter 9,11)
| Term | Definition |
|---|---|
| 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 |
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