Chapter 10 Vocabular Word Scramble
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| Term | Definition |
| Gross National Product (GNP) | A measurement of a country's wealth which uses the total value of all goods and services produced by it's residents. Includes domestic and foreign production in the time span of a year. |
| Gross Domestic Product (GDP) | A measurement of a country's wealth which uses the total value of all goods and services produced by a country, in the span of a year. |
| Gross National Income (GNI) | A measurement of a country's wealth which uses the total value of all goods and services produced by a country, as well as income from outside investments, in the span of a year. |
| Per Capita GNI | The GNI of a given country divided by its population count. |
| Formal Economy | Economic activity in government regulated and taxed goods and services, such as agriculture, mining, industry, and services. |
| Informal Economy | Economic activity not taxed or regulated by the government, using barter or cash systems, or earnings which are not reported. |
| Digital Divide | The growing gap between access to Internet and communication technology between connected and remote places. |
| Dependency Ratio | Number of people of non-working age (0-14 and 65+) to working age (15-64) |
| Sustainable Development Goals | An agreement between members of the United Nations to improve people's lives across education, environment, policial liberty, poverty, and inequality. |
| Modernization Model | The theory of how countries follow the same path of development. Made by Walter Rostow. |
| Context | The physical and human geography which creates place, environment, and space in which events occur and people act. |
| Neocolonialism | The economic and financial policies which give higher income states and organizations more control over lower income states. |
| Structuralist Theory | Set of theories based on the idea that a difficult to change, large scale economic arrangement shape what is possible for a country. |
| Dependency Theory | Theory by Andre Gunder Frank which states that wealthy countries set exploitative economic relations which cause less wealthy countries to become dependent on them |
| Dollarization | When a country abandons its native currency and instates the currency of another country |
| World Systems Theory | Theory by Immanuel Wallerstein, categorized by his three-tier structure. Describes how social change and economic wealth in the periphery is linked by the core. |
| Three Tier Structure | Division of the world into Core, Semi-periphery, and Periphery. |
| Core | The dominant world economy |
| Periphery | Lowest end of the world economy dominated by semi-periphery and core |
| Semi-Periphery | Middle end of world economy, exploited by core but exploits periphery |
| Commodity Chain | The steps between the production of a good, from design and raw materials to its production, marketing, and distribution. |
| Break of Bulk Point | A place where goods are transferred from one mode of transportation to another. |
| Structural Adjustment Loans | The set of rules required to open markets, privatize industry, and allow foreign direct investments into developing countries from international institutions. |
| Washington Consensus | International agreement stating that opening markets in developing countries will lead to economic development. |
| Neoliberalism | Policies based on the theory that governments should not interfere on markets. |
| Trafficking | Forced migration in which organized criminals forcefully and illegally move people from one place to another. |
| Maquiladora | Foreign factories in Mexico in which low-wage workers assemble imported materials into products to export. |
| Desertification | Spread of desert conditions to semi arid lands from overuse or improper use of land and water resources. |
| Islands of Development | Cities in developing regions where foreign investment is focused on. which draws in rural migrants. |
| Non-Governmental Organizations (NGO) | Privately funded organizations which do development and relief work. |
| Microcredit Programs | The practice of giving smaller loans to individuals, which then operate in within a community, which start businesses. |
Created by:
Lucas Booher
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