Term | Definition |
development | The ability to lead a long and healthy life, to acquire knowledge, and to have a decent standard of life (UNDP) |
HDI | A combined measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. |
trade | the activity or process of buying, selling, or exchanging goods or services |
trading bloc | A set of countries that are doing international trade, normally linked by a free trade agreement |
fair trade | A 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. |
development | The ability to lead a long and healthy life, to acquire knowledge, and to have a decent standard of life (UNDP) |
HDI | A combined measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living. |
trade | the activity or process of buying, selling, or exchanging goods or services |
trading bloc | A set of countries that are doing international trade, normally linked by a free trade agreement |
fair trade | A 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. |
globalization | The idea that people, goods and information can now 'travel' around the world much more quickly than before. The world is now interconnected and interdependent. |
colonialism | Attempt by one country to establish settlements and to impose its political, social, economic and cultural principles in another country for an extended period of time. |
industrial revolution | A period of rapid growth in the use of machines in manufacturing and production that began in the mid-1700s |
Human Development Index (HDI) | AN INDICATOR OF THE LEVEL OF DEVELOPMENT for each country, constructed by the United Nations, that is BASED ON INCOME, LITERACY, EDUCATION AND LIFE EXPECTANCY. |
Gross National Income (GNI) | THE VALUE OF THE OUTPUT OF GOODS AND SERVICES PRODUCED IN A COUNTRY IN A YEAR, including money that leaves and enters the country. |
Purchasing Power Pairty (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 amount countries in the cost of goods. |
Gross Domestic Product (GDP) | THE VALUE OF TOTAL OUTPUT OF GOODS AND SERVICES produced in a country in a given time period (normally a year). |
Primary Sector | THE PORTION OF THE ECONOMY CONCERNED WITH THE DIRECT EXTRACTION OF MATERIALS FROM EARTH'S SURFACE, generally through agriculture, although sometimes by fishing, mining and forestry. |
Secondary Sector | THE PORTION OF THE ECONOMY CONCERNED WITH MANUFACTURING useful products THROUGH PROCESSING, TRANSFORMING, AN ASSEMBLING RAW MATERIALS. |
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. |
Literacy Rate | The percentage of a country's people who can read and write. |
Levels of development | Measured by HDI |
sustainable development | Development that meets the needs of the present without compromising the ability of future generations to meet their own needs |
ecotourism | A form of tourism that supports the conservation and sustainable development of ecologically unique areas and wildlife. |