Ch. 9 Vocab

Question 1

A process of improvement in the material conditions of people through diffusion of knowledge and technology

Answer 1

Development

Question 2

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

Answer 2

Fair trade

Question 3

Investment made by a foreign company in the economy of another country

Answer 3

Foreign Direct Investment (FDI)

Question 4

Compares the ability of women and men to participate in economic and political decision making

Answer 4

Gender Empowerment Measure (GEM)

Question 5

Compares the level of development of women with that of both sexes

Answer 5

Gender-Related Development Index (GDI)

Question 6

The value of the total output of goods and services produced in a country in a given time period (normally i year)

Answer 6

Gross Domestic Product (GDP)

Question 7

Indicator of level development for each country constructed by the UN combining income, literacy education, and life expectancy

Answer 7

Human Development Index (HDI)

Question 8

A country that is at a relatively early stage in the process of economic development

Answer 8

Less Developed Country (LDC)

Question 9

The percentage of a country’s people who can read and write

Answer 9

Literacy Rate

Question 10

Eight international development goals that all members of the UN have agreed to achieve by 2015

Answer 10

Millennium Development Goals

Question 11

A country that has progressed relatively far along a continuum of development

Answer 11

More Developed Country (MDC)

Question 12

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.

Answer 12

Primary Sector

Question 13

The value of a particular product compared to the amount of labor needed to make it

Answer 13

Productivity

Question 14

The portion of the economy concerned with manufacturing useful products through processing transforming, and and assembling raw materials

Answer 14

Secondary Sector

Question 15

Economic policies imposed on less developed country by international agencies to 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

Answer 15

Structural Adjustment Program

Question 16

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

Answer 16

Tertiary Sector

Question 17

A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located

Answer 17

Transnational Corporation

Question 18

The gross value of the product minus the costs of raw materials and energy

Answer 18

Value Added