Chapter 9- Development Flashcards
Developing country
A country in an earlier stage of development
Developed country
A country that has progressed further along the development continuum
Development
Process of improvement in the material conditions of people through diffusion
Fair trade
Products are made and traded according to standards that protect workers and small businesses in LDCs
Foreign direct investment
The investment made by a foreign company in the economy of another country
Gender empowerment measure (GEM)
Compares the ability of women and men to participate in economic and political decision-making
Gender related development Index
Compares the level of development of women with that of both sexes
Gross domestic product (GDP)
The value of the total goods and services produced in a country
Human development Index
A system that recognizes a country’s level of development
Literacy rate
Amount of literate people in a population
Primary sector
Jobs that directly extract materials from the earth
Rostow, W. W.
Person who came up with the five stage system for development through international trade
Secondary sector
Manufacturers that process, transform, and assemble the materials to useful products
Structural adjustment program
A program which includes economic goals, strategies for achieving the objectives and external financing requirements
Tertiary sector
Provision of goods and services to people in exchange for payment
