Chapter 9 - Development Flashcards
Conglomerate Corporation
A firm that is comprised of many smaller firms that serve several different functions
Agglomeration
A mass or collection of things; an assemblage
Core-Periphery Model
A model of the spatial structure of development in which under-developed countries are defined by their dependence on a developed core region
Development
Process of improving the material conditions of people through diffusion of knowledge
GEM (Gender Empowerment Measure)
Ability of women and men to participate in economic and political decision making
GDI (Gender-Related Development Index)
Compare the level of development of women with that of both sexes
HDI ( Human Development Index)
A combination of one economic factor (GDP per capita), two social factors (literacy rate and amount of education) and one development factor (life expectancy)
GDP (Gross Domestic Product)
Value of the total output of goods and services produced in a country
Industrialization
Process of industrial development in which countries evolve economically, from producing primary goods to factory mass production
Industrial Revolution
The rapid economic and social changes in manufacturing in England in the end of the 18th century
Literacy Rate
Percentage of a country’s population who can read and write
Outsourcing
Sending industrial processes out for external production
Primary Sector
Agriculture, mining, fishing, and forestry
Productivity
The value of a particular product compared to the amount of labor to make it
PPP (Purchasing Power Parity)
A monetary measurement of development that takes into account what money buys in different countries
Rostow’s Stages of Development
A model of economic development that describes a country’s progression which occurs in 5 stages to go from a LDC to a MDC
Secondary Sector
Manufactures that process, transform, and assemble raw materials into useful things
Structural Adjustment Program
Economic policies that create conditions encouraging international trade
Tertiary Sector
Provision of goods and services to people in exchange for payment
Transnational Corporation
A firm that conducts business in at least two different countries; aka a multinational corporation
Value Added
The gross value of the product minus the costs of raw materials and energy
