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Development Ch. 9

A review of the vocabulary terms of chapter 9.

QuestionAnswer
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 with minimum environmental and safety standards Fair Trade
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; typical of LDCs Primary Sector
Compares the capability of women and men to participate in economic and political decision making Gender Equality Measure (GEM)
The gross value of the product minus the costs of raw materials and energy Value Added
A country that has professed relatively far along a continuum of development; mostly found above the equator with the exception of Oceania More Developed Country (MDC)
Compares the level of development of women with that of both sexes; based off of social (income and literacy) and demographic (life expectancy) characteristics of each gender Gender-Related Development Index
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; ie. doctors, realtors, bankers Tertiary Sector
A process of improvement in the material conditions of people through diffusion of knowledge and technology Development
The value of the total output of goods and services produced in a country in a given time period (normally 1 year) Gross Domestic Product (GDP)
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials Secondary Sector
Economic policies imposed on LDCs by international agencies to create conditions encouraging international trade, without regard for the LDC; ie. McDonald's or Wal-Mart buying rights to the Pyramids of Giza and exploiting the people to repay national debt Structural Adjustment Program
Indicator of level of development fro each country, constructed by the United Nations, combining income, literacy, education, and life expectancy Human Development Index (HDI)
The percentage of a country's people who can read and write Literacy Rate
Eight international development goals that all members of the United Nations have agreed to achieve by 2015 Millennium Development Goals
Investment made by a foreign company in the economy of another country Foreign Direct Investment (FDI)
A country that is at a relatively early stage in the process of economic development; most regions under the equator, with the exception of Oceania Less Developed Country (LDC)
A company that conducts research, operates factories, and sells products in may countries in order to maximize profit Transnational Corporation
The value of a particular product compared to the amount of labor needed to make it; concerning the price of labor from either machinery or humans/animals Productivity
Created by: SydneyR