Chapter 9 - Development

Question 0

Conglomerate Corporation

Answer 0

A firm that is comprised of many smaller firms that serve several different functions

Question 1

Agglomeration

Answer 1

A mass or collection of things; an assemblage

Question 2

Core-Periphery Model

Answer 2

A model of the spatial structure of development in which under-developed countries are defined by their dependence on a developed core region

Question 3

Development

Answer 3

Process of improving the material conditions of people through diffusion of knowledge

Question 4

GEM (Gender Empowerment Measure)

Answer 4

Ability of women and men to participate in economic and political decision making

Question 5

GDI (Gender-Related Development Index)

Answer 5

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

Question 6

HDI ( Human Development Index)

Answer 6

A combination of one economic factor (GDP per capita), two social factors (literacy rate and amount of education) and one development factor (life expectancy)

Question 7

GDP (Gross Domestic Product)

Answer 7

Value of the total output of goods and services produced in a country

Question 8

Industrialization

Answer 8

Process of industrial development in which countries evolve economically, from producing primary goods to factory mass production

Question 9

Industrial Revolution

Answer 9

The rapid economic and social changes in manufacturing in England in the end of the 18th century

Question 10

Literacy Rate

Answer 10

Percentage of a country’s population who can read and write

Question 11

Outsourcing

Answer 11

Sending industrial processes out for external production

Question 12

Primary Sector

Answer 12

Agriculture, mining, fishing, and forestry

Question 13

Productivity

Answer 13

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

Question 14

PPP (Purchasing Power Parity)

Answer 14

A monetary measurement of development that takes into account what money buys in different countries

Question 15

Rostow’s Stages of Development

Answer 15

A model of economic development that describes a country’s progression which occurs in 5 stages to go from a LDC to a MDC

Question 16

Secondary Sector

Answer 16

Manufactures that process, transform, and assemble raw materials into useful things

Question 17

Structural Adjustment Program

Answer 17

Economic policies that create conditions encouraging international trade

Question 18

Tertiary Sector

Answer 18

Provision of goods and services to people in exchange for payment

Question 19

Transnational Corporation

Answer 19

A firm that conducts business in at least two different countries; aka a multinational corporation

Question 20

Value Added

Answer 20

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