test II Flashcards
MEDC
usa, uk
more developed countries with a higher standard of living .
they are referred to as high-income countries
NIC
newly industrialised countries
South Korea, Taiwan
countries that have experienced rapid industrial, social and economic growth since 1960
MINT
Mexico
Indonesia
Nigeria
Turkey
CIVETS
Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa
LEDC
Less economically developed countries
Namibia and Egypt
These countries are at a lower stage of development and have a lower quality of life.
they can be subdivided into middle-income and low-income LEDCs.
*they are now referred to as low-income countries.
LDC
lest developed countries
Afghanistan and much of Sub-Saharan Africa
Here standards of living are very low, as are many indicators of development.
primary sector
the part of a country that grows or extracts raw material
(fishing, agriculture, foresting and mining)
secondary sector
concerned with manufacturing and processing of goods
uses the products of primary industry directly or indirectly
(coal iron and limestone are directly used to make steel, indirectly when steel is used in manufacturing such as cars)
tertiary
provides services
(the government using taxes, may provide public services such as hospitals and schools)
quaternary
information services, such as computing , ICT, consultancy (offering advice to business), research, financial services
*the quaternary sector is sometimes included in the tertiary sector.
flying geese paradigm
economy chain in Asia
1 country takes over another industry, improves it and sells more products of it.
then moves on to another industry
tiger economies
SSTH
South Korea
Singapore
Taiwan
Hong kong
Tiger CLUB economies
Vietnam
Thailand
Malaysia
Philipines
indonesia
what is the purpose of UN sustainable development goals
to transform our world and make it a better place
gdp
gross domestic product
measure of economic performance
the added value of goods and services created inside a territory within a year
