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Unit 7

Unit 7 Vocabulary

TermDefinition
Adolescent fertility rate The number of births per 1
Cooperative Store A member-owned
Developed country A country that has progressed relatively far along a continuum of development.
Developing country A country that is at a relatively early stage in the process of Economic Development.
Development A process of improved conditions of people through diffusion of knowledge and technology.
Fair Trade International trade that provides equity to workers and small businesses in LDC's.
Female labor-force participation rate The percentage of women holding full-time jobs outside the home.
Foreign Direct Investment (FDI) Investment made by a foreign company in the economy of another country.
Gender-related Development Index (GDI) Measures gender gap in levels of income
Example: Saudi Arabia has a high HDI but a low GDI for women.
Gender inequality index A measure of the extent of each country's gender inequality.
Gross domestic product (GDP) The value of the total output of goods and services produced in a country in a year (not accounting for money that leaves and enters the country)
Gross national income (GNI) The value of the output of goods and services produced in a country in a year
Human development index (HDI) An indicator of the level of development for each country
Inequality-adjusted HDI (IHDI) Modification of the HDI to account for inequality within a country.
Literacy rate The percentage of a country's people who can read and write.
Maternal Mortality Rate The number of women who died giving birth per 100
Microfinance Provision of small loans and financial services to individuals and small businesses in developing countries.
Primary sector The portion of the economy concerned with the direct extraction of materials from Earth's surface
Productivity The value of a particular product compared to the amount of Labor needed to make it.
Example: more labor higher prices.
Pupil/teacher ratio number of students divided by the number of teachers.
Purchasing power parity (PPP) The amount of money needed in one country to purchase the same goods and services in another country; PPP adjusts income figures to account for differences among countries in the cost of goods.
Secondary sector The portion of the economy concerned with manufacturing useful products through processing
Structural Adjustment Program Economic policies imposed on less developed countries by international agencies to create conditions that encourage international trade.
Teritary sector The portion of the economy concerned with Transportation
Value Added The gross value of a product minus the costs of raw materials and energy (profit)
Break-of Bulk Point A location where transfer is possible from one mode of transportation to another.
Bulk-Gaining Industry An industry in which the final product weighs more or comprises a greater volume than the inputs.
Bulk-Reducing Industry An industry in which the final product weighs less or comprises less volume than the inputs.
Just-In-Time Delivery Shipment of parts and materials to arrive at a factory moments before they are needed.
Maquiladora A factory built by a US company in Mexico near the US border to take advantage of the much lower labor costs in Mexico.
International Division of Labor A conception of economic production being transnational and as interdependent on labor in different places.
Special Economic Zone An area in which the business and trade laws are different from the rest of the country.
Free Trade Zone/Export Processing Zone Area where goods may be imported
Created by: ladyhogan
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