Development Flashcards
Fair trade
Alternative to national trade
Development
Process of improvement in the material conditions of people through diffusion
Foreign direct investment (FDI)
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(GDI)
Compares the level of development of women with that of both sexes
Gross domestic product
Value of the total output of good and services produced in a country in a given time period
LDC
A country that is at a relatively early stage in the process of economic development
Literacy state
Percentage of a country’s people who can read and write
MDC
A country that has a progressed relatively far along a continuum of development
Productivity
Value of a particular compared to the amount of labor needed
Secondary sector
Portion of economy concerned with manufacturing useful products through processing
Tertiary sector
Portion of the economy convened with transportation, communication, and utilities
Transactional corporation
A company that conducts research, operates factories, and sells products in many countries
Value added
Gross value of the product minus the costs of the raw materials and energy
