Development Definitions Flashcards
Economic development
the progress made by a country as it develops its economy
Social development
the progress made by a country as it develops its social aspect
Gross Domestic Product(GDP)
the total value of goods and services produced by a country in a year
Gross National Income(GNI)
the total income of a country, including earnings from abroad(also known as Gross National Product(GNP))
GNI per capita(per person)
the country’s GNI divided by its population
Life expectancy
the average age to which a person lives in an area
Infant mortality rate
the number of babies, per 1000 live births, who die under the age of one
Literacy rate
the percentage of adults who can read and write
Core area
a highly developed urban region to which people are attracted and which receives the most investment
Periphery
the rural surrounds of a region that people may wish to migrate from towards the core region because of low investments and low prospects
Transmigration
the relocation of a large number of people as a result of a government plan
Primary sector
the part of a country’s economy that grows or extracts raw materials
Secondary sector
the part of a country’s economy that is concerned with the manufacturing and processing of goods
Tertiary sector
the part of a country’s economy that provides services
Quaternary sector
the part of a country’s economy that provides information services
Newly Industrialising Countries(NIC)
countries with developing economies that have advanced towards industrialization and might become developed in the near future
Free trade
the movement of goods and services within a country or trade group which does not require the payment of custom duties
Globalisation
the expansion of a company from its original country to a position where it has branches in many countries
Human Development Index(HDI)
a measure of a country’s achievements in three aspects of human development; health, knowledge and standard of living
Transnational Corporations(TNCs)
enterprises which are involved with the international production of goods and services, and have management in more than one country
Outsourcing
the act of getting alternative goods and services from other cheaper locations rather than locally
