Chapter 9 Development Vocab Flashcards
A country that is progressed relatively far along a continuum of development
More developed country
A process of improvement in the material conditions of people through diffusion of knowledge and technology
Development
A country that is relatively early stage in the process of economic development
Less developed country
An indicator of the level of development for each country, constructed by the United Nations, that is based on income, literacy, education, and life expectancy
Human development Index
The value of the output of goods and services produced in a country any year, including money that leaves in enters the country
Gross national income
The amount of money needed in one country to produce the same goods and services in another country; PPP address income figures to account for differences among countries in the cost of goods
Purchasing power parity
The value of the total output of goods and services produced in a country in a given time
Gross domestic product
The portion of the economy concerned with the direct extraction of materials from earth surface, generally through agriculture, although sometimes by mining, fishing, and forestry
Primary sector
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials
Secondary sector
The portion of the economy concerned with the transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people, in exchange for payment
Tertiary sector
The value of a particular product compared to the amount of labor needed to make it
Productivity
The gross value of a product minus the costs of raw materials and energy
Value added
Modification of the HDI to account for inequality within a country
Inequality adjusted HDI
The percentage of a countries people who can read and write
Literacy rate
A measure of the extent of each country is gender inequality
Gender inquality index