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WG Unit 5 Vocab

Resources & Economic Interdependence of Dev'd & Dev'g Countries

TermDefinition
aesthetics beauty
agribusiness a business that focuses on raising a crop to be sold
ASEAN promotes economic & political development in SE Asia
capitalism economic system of private ownership & investment
cash crops crops grown for sale
commercial agriculture raising crops to be sold commercially
comparative advantage production of goods & services at best cost/benefit ratio for investment
cottage industry small business run from inside the home
developed country wealthy country with industry and a high standard of living
developing country poor country with agriculture based economy
entrepreneur business owner; investor of time & finances
EU economic/political organization of European countries
export item taken out of a country for trade
globalization increased global connectedness
imperialism empire building
import item brought into a country for trade
indigenous native to an area
infrastructure buildings, roads, electricity, water, internet; utilities
interdependence dependence between one or more agencies
landlocked land with no coast
literacy rate percentage of population able to read and write
NAFTA a tax free trade agreement for US/Canada/Mexico
natural resource item found in nature with monetary value to humans
nonrenewable unable to be replaced
OPEC group responsible for price & quantity of released barrels of oil
per capita per person
renewable able to be replaced
subsistence agriculture crops grown to support the immediate food needs of the grower
Created by: gbright
 

 



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