Economic World - Key Terms Flashcards
De- industrilaistion
the decline of a country’s traditional manufacturing industry due to exhaustion of raw materials, loss of markets and competition from NEE’s.
Demographic Transition Model
a model showing how population should change over time in terms of their birth rates, death rates and total population size.
Development
the progress of a country in terms of economic growth, the use of technology and human welfare.
Development Gap
the difference in standards of living and wellbeing between the world’s richest and poorest countries.
European Union
an international organisation of 28 European countries , including the UK, formed to reduce trade barriers and increase cooperation among its members.
Globalisation
the process which has a more connected world, with increases in the movements of goods (trade) and people (migration and tourism) worldwide.
Industrial Structure
the relative proportion of the workforce employed in different sectors of the economy - primary, secondary, tertiary and quaternary.
International Aid
money, goods and services given by the government of one country or a multilateral institution such as the World bank or International Monetary Fund to help with the quality of life and economy of another country.
North-South Divide
Economic and cultural differences between Southern England and Northern England.
There are clear differences in health conditions, house prices, earnings and political influence.
Science and Business parks
Business parks are purposes built areas of offices and warehouses often at the edge of a city or on a main road.
science parks are often located near university sites and high-tech industries are established. scientific research and commercial development may be carried out in co-operation with the university.
Service Industries (tertiary)
the economic activities that provide various services - commercial, professional, social, entertainment and personal.
trade
the buying and selling of goods and services between countries.
