Also known as a developing country, a country that is at a relatively early stage in the process of economic development.
Gross Domestic Product (GDP)
The calue of the total ouput of goods and services produced in a country in a given time perisod (normaly one year).
Literacy Rate
The percentage of a country's people who can read and write.
More Developed Country
A country that has procgressed relatively far along a continuum of development.
Teritary Secor
The portion of the economy concerned with transportation, communications, and utilities, sometiems extended to the provision of all goods and services to people in exchange for payment.
Secondary Sector
The portion of the economy conerned with manufacturing useful products throu processing, transforming, and assembling raw materials.
Development
A process of imporement in the material conditions of people through diffusion of knowledge and technology.
Value Added
The gross value of the product minus the costs of raw materials and energy.
Structural Adjustment Program
Economic policies imposed on less developed counries by international agencies to create conditions encouraing international trade, such as raising taxes, reducing government spending, controlling inflation and other things...
Primary Sector
THe portion of the economy concerned with the direct extraction of materials from Eath's surface, generally through agriculutre, alothough sometimes by mining, fishing, and forestry.
