Chapter 9- Development

Question 0

MDC

Answer 0

MORE DEVELOPED COUNTRY that has progressed further along the development continuum.

A.K.A. - Relatively developed country, developed country.

Question 1

Development

Answer 1

The process of improving the material conditions of people through diffusion of knowledge and technology.

Question 2

LDC

Answer 2

LESS DEVELOPED COUNTRY - Country in an earlier stage of development.
A.K.A. - Developing country (Has made progress, expected to continue)

Question 3

HDI

Answer 3

Human Development Index

A measurement of development taking 3 factors into account: Social, Economic, and Demographic. Created by the UN.

Question 4

GDP

Answer 4

Gross Domestic Product - The value of the total output of goods and services produced in a country, normally during a year.

Question 5

Primary Sector Work

Answer 5

Directly extracting materials from the earth througg agriculture, and mining, forestry, or fishing as well.

Question 6

Secondary Sector Work

Answer 6

Manufacturing thats processes, transforms, and assembles raw materials into products.

Question 7

Tertiary Sector Work

Answer 7

The provisionment of goods and services to people in exchange for payment, with jobs such as banking, retailing, law, education, and government.

Question 8

Productivity

Answer 8

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

Question 9

Value Added

Answer 9

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

Question 10

GDI

Answer 10

Gender-Related Development Index

-Compares level of development of women with that of both sexes.

Question 11

GEM

Answer 11

Gender Empowerment Measure

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

Question 12

Difference between GDI and GEM?

Answer 12

GDI-reflects improvements in the standard of living and development of women
GEM-measures ability of women to participate in achieving those improvements.

Question 13

Rostow’s Development Model

Answer 13

Each country in the world is in one of these stages:

1. TRADITIONAL SOCIETY - No development, most people are farmers.
2. PRE-TAKEOFF - Development begins with innovations in economy, new technologies and infrastructure.
3. TAKEOFF - Rapid growth in many economic activities, some industries embrace modern technology and pull ahead.
4. DRIVE TO MATURITY - Modern technology diffuses to wide range of industries, spurring rapid growth.
5. MASS CONSUMPTION - Economy shifts from heavy industry to consumer goods.

Question 14

FDI

Answer 14

Foreign Direct Investment

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

Question 15

Transnational Corporation

Answer 15

Organization that invests and operates in countries other than the one where its headquarters are located.

Question 16

Structural Adjustment Program

Answer 16

A framework/outline of the economic goals, strategies, and financing requirements that must be prepared by an LDC before recievibg debt relief from an MDC.

Question 17

Fair Trade

Answer 17

Products are made and traded according to standards that protect workers/small businesses in LDC’s.

Question 18

Raw Materials

Answer 18

Meterials derived directly feom the earth for human use.

Question 19

Literacy Rate

Answer 19

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