Key Words - The Changing Economic World

Question 1

the development gap

Answer 1

the difference in standards of living between the world’s richest and poorest countries

Question 2

trade

Answer 2

the action of buying and selling goods

Question 3

quality of life

Answer 3

the general wellbeing of a person or society often determined by factors related to health and happiness

Question 4

gross national income

Answer 4

GNI is calculated by adding together the total value of goods and services produced and money earned from overseas divided by population

Question 5

human development index

Answer 5

HDI is a composite social measure of development for a country
it is calculated by: life expectancy, number of years of education and GNI per head

Question 6

birth rate

Answer 6

the number of live births per 1000 people

Question 7

death rate

Answer 7

the number of deaths per 1000 people

Question 8

infant mortality

Answer 8

the number of deaths of babies under the age of 1 per 1000 live births

Question 9

literacy rate

Answer 9

the percentage of people who can read and write at a basic level

Question 10

demographic transition model

Answer 10

a population model which shows changes over time in the population of a country

Question 11

colonialism

Answer 11

the process by which a country gains political control over another country
they often use the land and natural resources to benefit their economy

Question 12

migration

Answer 12

the movement of people from one place to another

Question 13

aid

Answer 13

the giving of resources from one country to another to help it develop or improve people’s lives

Question 14

fairtrade

Answer 14

an international organisation that protects producers in developing countries by ensuring that they receive a fair wage and better working conditions

Question 15

microfinance loan

Answer 15

a method of small scale financial support which enables individuals or families to start up small businesses

Question 16

debt relief

Answer 16

debt owed by poorer developing countries is written off or repayments are lowered or extended in order to be more affordable

Question 17

TNC

Answer 17

a transnational corporation is a large company that operates in several countries

Question 18

import

Answer 18

products that are sold and brought into a country

Question 19

export

Answer 19

products that are sold and sent to another country

Question 20

deindustrialisation

Answer 20

the decline of the manufacturing industry and the growth of the tertiary and quaternary employment

Question 21

globalisation

Answer 21

the growth and movement of ideas around the world. this may include: culture, people, money, goods and information

Question 22

industrial structure

Answer 22

the way that a country’s economy is divided up into sectors

Question 23

business park

Answer 23

an area of land occupied by a cluster of businesses which are usually located on the edge of a town

Question 24

science park

Answer 24

a group of scientific and technical knowledge - based businesses that are located on a single site