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Chap. 10 Vocab
| Question | Answer |
|---|---|
| commodity chain | a series of links connecting the many places of production and distribution and resulting in a community that is on world market |
| dependency theory | model of economic and social development that explains global inequality in terms of the exploitation of poor nations by rich ones |
| desertification | the gradual transformation of habitable land into desert |
| developing | relating to societies in which capital needed to industrialize is in short supply |
| dollarization | when a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency as its own |
| export processing zones | zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment |
| formal economy | the legal economy that is taxed and monitored by a government and is included in a government's Gross National Product; as opposed to an informal economy |
| Gross Domestic Product (GDP) | the market value of all final goods and services produced within a country in a given period of time |
| Gross National Income (GNI) | the monetary worth of what is produced within a country plus income received from investments outside the country |
| Gross National Product (GNP) | a measure of the total value of the officially recorded goods band services produced by the citizens and corporations of a country in a given year |
| Human Development Index (HDI) | indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy statistics |
| informal economy | economic activity that neither taxed nor monitored by a government; and is not included in that government's GNP; as opposed to a formal economy |
| island of development | place built up by a government or corporation to attract foreign investment and which has a relatively high concentrations of paying jobs and infrastructure |
| Less Developed Country (LDC) | a country that is at a relatively early stage in the process of economic development ex: Zimbabwe |
| Literacy Rate (LR) | the percentage of people that can read and write in a given population |
| Maquiladoras | Mexican manufacturing plants that import and assemble duty-free components for export |
| micro-credit program | program that provides small loans to poor people, especially women, to encourage development of small businesses |
| millennium development goals | eight international development goals established by 192 UN member state all by the target date of 2015 |
| modernization model | according to the Rostow Modernization model, each stage is a function of productivity, economic exchange, technological improvements, and income, and economic growth occurs when advancing from one stage to another |
| More Developed Country (MDC) | a country that has progressed relatively far along a continuum of development |
| neocolonialism | a process of acculturation or cultural imperialism where forms of industrial, political and economic organization are imposed on other cultures under the guise of getting aid/progressing |
| neoliberalism | a strategy for economic development that calls for free markets, trade, and minimal gov. intervention in the economy |
| quaternary activity | service sector industries concerned with the collection, processing, and manipulation of information ex: finance, admin, insurance |
| Rate of Natural Increase (RNI) | the annual rate of population growth |
| special economic zones | an area in which the business and trade laws are different from the rest of the country to attract foreign business and investment |
| structural adjustment loans | loans granted by international financial institutions to countries in the periphery and the semi periphery in exchange for certain economic and governmental reforms in that country ex: opening the country to foreign trade |
| structuralist theory | a model of economic development that cheats economic disparities among countries as a result of historically derived power relations within the global economic system |
| tertiary activity | economic activity associated with the provision of services ex: transportation, banking, retailing, education, and office based jobs |
| three-tier structure | the division of the world into the core, periphery, and semi periphery |
| trafficking | when a family sends a child or an adult to a labor recruiter and hopes they will send money back |
| vectored diseases | a disease carried from one host to another by an intermediate host |
Created by:
a.bby
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