Industialization and econ development Vocab Flashcards
Quinary sector
Highest levels of decision making and includes top officials in various levels of government and business
EX: Jeff Bazzos
Quarternary sector
-knowledge based sector,
includes research and development, business consulting, financial services, public admin, software development
-EX: teachers
Potential vs proven reserves
Potential- undiscovered fuel sources, not uncovered areas with resources
EX: there might be oil in this patch of land
Proven- resources that we know we have
EX: The 131 years of coal that we have
Rostow vs wallerstein
Waller: world system-> global, core semiperiph, periph
Rostow: Economic, like DTM, International trade, “for each country”, national scale, 5 stages
World systems model
Developed by • Immanuel Wallerstein
- Grouped countries into Core, semi periphery, periphery based on their economy
Fair Trade:Microfinances
• A provision of small loans and other financial services to individuals and small businesses in developing countries that are unable to obtain loans from commercial banks
EX: the women using them to fund their businesses
Fair Trade: Overall goals/definition
• Commerce in which products are made and traded according to standards that protect workers and small businesses in developing countries
Define Foreign Direct Investment
• Investment made by a foreign company in the economy of another country
What is GDP
-Gross domestic product
-The total value of goods produced and services provided in a country during one year
EX: 20.891 trillion in 2018
Define each of the terms below and list the types of energy included under reach.: Renewable energy sources
Has an essentially unlimited supply and is not depleted when used by people. EX: droelectric, geothermal, fustian, wins, solar energy
Define each of the terms below and list the types of energy included under reach.: Nonrenewable energy
Forms so slowly that for practical purposes, it cannot be renewed. EX: coal, natural gas, petroleum
Self sufficiency model elements
-Countries encourage domestic production of goods, discourage foreign ownership of businesses and resources and protect their businesses from international competition
International trade approach
-Rostow’s development model
• 1. The traditional society
• Preconditions for Takeoff
• The Takeoff
• The Drive to Maturity
• The Age of Mass Consumption
possible 6th stage: a Post-industrial
What is HDI
(Human Development Index),
-Shows the common lifestyle in a coutnry
What is Gross National Income (GNI)?
The value of the output of goods and services produced in a country in a year, including money that leaves and enters the country
What is purchasing power parity (PPP)?
An adjustment made to the GNI to account for differences among countries. EX. If residents from dif countries have the same
income, but one has to pay more for a Starbucks, the other resident is better of
What is the Inequality-adjusted HDI? (IHDI)
An indicator of development that modifies the HDI to account for the inequality ; the greater difference in the two measures, the
greater the inequality
Define Gender Inequality Index. (GII)
Rates country on how equal the genders are treated
What type of jobs comprise of each sector of the economy?:Primary
Activities that directly extract materials from Earth through agriculture and sometimes by mining, fishing, and forestry
EX: mining
What type of jobs comprise of each sector of the economy?: Secondary
Manufacturers that process, transform, and assemble raw materials into useful products, as well as industries that fabricate manufacturers goods into finished consumer goods
EX: dairy proccesor turns milk into cheese
What type of jobs comprise of each sector of the economy?: Tertiary
Involves the providing of goods and services to people in exchange for payment. EX: retailing, banking, law,
education
