UNIT 7 - CH 19 Flashcards
Commodity dependence
An economy that relies on the export of primary commodities for a large share of its export earnings and hence economic growth
Core country
Countries that dominate trade, control the most advanced technologies and have high levels of productivity within diversified economies
Dependency model
Countries do not exist in isolation but are part of an intertwined world system in which all countries are dependent on each other
Equality
The state of being equal, especially in status, rights, and opportunities
Equity
The state or quality of being just, fair, or impartial; fair and equal treatment ; something that is fair
Formal sector
Salaried or wage based work registered in official statistics
Fossil fuels
Coal, oil, natural gas, and other fuels that are ancient remains of plants and animals
Gender development index (GDI)
An indicator constructed by the U.N. To measure the gender gap in the level of achievement in terms of income, education, and live expectancy
Gender inequality index (GII)
An indicator constructed by the U.N. To measure the extent of each country’s gender inequality in terms on reproductive health, empowerment, and the labor market
Gender pay gap
The difference between male and female earnings expressed as a percentage of male earnings
Gross domestic product (GDP)
The total value of a states goods and services produced inside of the country
Gross national income (GNI)
Measures the total annual income received by residents of a nation
Gross national product (GNP)
The total value of all the goods and services produced by a state in a single year
Human development
The processes involved in the improvement of peoples rights, freedoms, capabilities, choices, and material conditions
Human development index (HDI)
An indicator constructed by the U.N. To measure the level of development for a country through a combination of income, education, and life expectancy
Informal sector
Network of business transactions that are not reported and therefore not included in the country’s GDP and official economic projection
Labor-market participation (LMP)
Rate that measures an economy’s active labor force, calculated by taking the sum of all employed workers divided by the working age population
Microfinance
The lending of small amounts of money at low interest to new businesses in the developing world
Microloans
A very small, often short-term loan made to an impoverished entrepreneur, as in an underdeveloped country
Per capita
Per person basis; total divided by a population
Periphery countries
The least developed and least powerful nations; often exploited by the core countries as sources of raw materials, cheap labor, and markets
Renewable energy
A resource that has a theoretically unlimited supply and is not depleted when used by humans
Reproductive health
Health of reproductive organs in all persons
Rostow’s Stages of Economic Growth Model
A model of economic development that describes a country’s progression which occurs in 5 stages transforming from least-developed to more-developed region
Semi-periphery countries
The industrializing, most capitalist countries which are positioned between periphery and core countries
Wallerstein’s World Systems Theory
- The world economy has one market and a global division of labor
- Although the world has multiple states, almost everything takes place within context of the world economy
- The world economy has a three-tier structure (peripheral, semi-peripheral, core)
Women’s empowerment
Their ability to advocate for their rights and have decision-making power in their public and private lives
