Chapter 10 Flashcards
What is development?
The process of change that expands the productive capacity of society
What is the Human Development Index (HDI)?
A function of access to knowledge, standard of living, and life expectancy.
What is the Gross National Income (GNI)?
The value of the output of goods and services produced in a country.
What is the Purchasing Power Parity (PPP)?
The adjustment made to the GNI to account for the differences among countries in the cost of goods
What is Gross Domestic Product (GDP)?
Measures the value of the output of goods and services produced in a country in a year.
What is Per Capita GNI?
Measures the average wealth, not the distribution of wealth.
What is the primary sector?
Directly extracting materials from the Earth through agriculture, mining, fishing, and forestry
What is the second sector?
Manufacturing the raw materials into products.
What is the Tertiary sector?
Providing goods and services to people in exchange for payment.
What is Productivity?
The value of a particular product compared to the labor needed to make it.
What is value added per capita?
The gross value of product minus the cots of raw materials and energy
What is the IHDI?
The HDI adjusted for inequality.
What is the adolescent fertility rate?
The number of births per 1000 people aged 15 to 19
What is the female labor force participation rate?
The percentage of women who are working jobs outside the home.
What is balanced growth?
Investment is spread equally across all sectors of a country’s economy in all of its regions
