Development
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| Development | The process of improving the material conditions of people through diffusion of knowledge and technology.
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| HDI | Human Development Index, created by the UN, recognizes that a country's level of development is a function of economic (GDP), social (literacy rate and amount of education), and demographic (life expectancy) factors.
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| GDP | Gross domestic product is the value of the total output of goods and services produced in a country, normally during a year.
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| Primary sector | Workers who extract materials from the earth (ex. agriculture, mining, fishing, forestry).
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| Secondary Sector | Manufacturers that process, transform and assemble raw materials into useful products.
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| Tertiary Sector | Involves the provision of goods and services to people in exchange for payment (ex. retail, banking, law, education, government).
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| Productivity | The value of a particular product compared to the amount of labor needed to make it.
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| Value added | In manufacturing this means the gross value of the product, minus the cost of raw materials and energy.
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| Literacy Rate | The percentage of a countries people who can read and write.
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| Structural Adjustment Programs | Economic policies that create conditions encouraging international trade, such as raising taxes, reducing government spending, controlling inflation, selling publicly owned utilities to private corporations, and charging citizens more for services.
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| GDI | Gender-Related Development Index compares the level of development of women with that of both sexes
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| GEM | Gender Empowerment Measure compares the ability of women and men to participate in economic and political decision making.
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| HDI economic indicators | GDP, economic structure, worker productivity, access to raw materials, availability of consumer goods.
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| Raw materials | Natural resources that can be fashioned into useful products (minerals, trees).
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| Energy resources | Fuel required to operate factories and machinery (hydroelectric, coal, oil, natural gas, uranium).
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| North-south split | MDCs are found primarily in the Northern Hemisphere north of 30˚ latitude, whereas LDCs are found in south of this line.
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| More developed regions | Anglo-America (USA and Canada), Western Europe, Eastern Europe, Japan, South Pacific (Australia, New Zealand, some Pacific Islands).
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| Less developed regions | Latin America (Mexico, Caribbean Islands or West Indies, Central America, South America), East Asia (China, S. and N. Korea), Middle East (North Africa and Southwest Asia), Southeast Asia, South Asia, Sub-Saharan Africa.
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| Communism | An economic system and theory of government in which all basic and non-basic industries are owned by a central government for the benefit of all citizens. Government has total control of all aspects of life.
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Created by:
WestonSandfort
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