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A review of the vocabulary terms of chapter 9.

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Alternative to international 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   Fair Trade  
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The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry; typical of LDCs   Primary Sector  
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Compares the capability of women and men to participate in economic and political decision making   Gender Equality Measure (GEM)  
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The gross value of the product minus the costs of raw materials and energy   Value Added  
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A country that has professed relatively far along a continuum of development; mostly found above the equator with the exception of Oceania   More Developed Country (MDC)  
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Compares the level of development of women with that of both sexes; based off of social (income and literacy) and demographic (life expectancy) characteristics of each gender   Gender-Related Development Index  
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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; ie. doctors, realtors, bankers   Tertiary Sector  
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A process of improvement in the material conditions of people through diffusion of knowledge and technology   Development  
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The value of the total output of goods and services produced in a country in a given time period (normally 1 year)   Gross Domestic Product (GDP)  
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The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials   Secondary Sector  
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Economic policies imposed on LDCs by international agencies to create conditions encouraging international trade, without regard for the LDC; ie. McDonald's or Wal-Mart buying rights to the Pyramids of Giza and exploiting the people to repay national debt   Structural Adjustment Program  
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Indicator of level of development fro each country, constructed by the United Nations, combining income, literacy, education, and life expectancy   Human Development Index (HDI)  
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The percentage of a country's people who can read and write   Literacy Rate  
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Eight international development goals that all members of the United Nations have agreed to achieve by 2015   Millennium Development Goals  
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Investment made by a foreign company in the economy of another country   Foreign Direct Investment (FDI)  
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A country that is at a relatively early stage in the process of economic development; most regions under the equator, with the exception of Oceania   Less Developed Country (LDC)  
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A company that conducts research, operates factories, and sells products in may countries in order to maximize profit   Transnational Corporation  
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The value of a particular product compared to the amount of labor needed to make it; concerning the price of labor from either machinery or humans/animals   Productivity  
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