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Chap 9

TermDefinition
HDI Human development index:An indicator of the level of development for each nation
GII Gender Inequality Index: A measure of the extent of each country gender inequality
Primary sector The portion of the economy concerned with the direct extraction of natural resources.
Tertiary sector 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.
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 coast of raw materials and energy
Fair trade An alternative to international trade that emphasizes small businesses and worker-owned and democratically run
Developed countries A country that has progressed relatively far along a continuum of development.
Developing countries A country that is at a relatively early stage in the process of economic development
Demand The quantity of something that consumers are willing and able to buy.
Supply The amount of something a countries has
Fracking The pumping of natural gas
Inequality-adjusted HDI (IHDI) Modification of the HDI to account for inequality within a country
Microfiance Provision of small loans and other financial services to individuals and small business in development countries
Productivity The value of a particular product compared to the amount of labor needed to make it.
Created by: 100003476432837