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ap > Unit 7 Vocab (Economics) > Flashcards

Unit 7 Vocab (Economics) Flashcards

1
Q

Adolescent Fertility Rate

A

The number of births per 100 women ages 15 to 19

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2
Q

Cooperative

A

An association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned enterprise

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3
Q

Developed Country

A

A country that has progressed relatively for along a continuum of development

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4
Q

Developing Country

A

A country that is at a relatively early stage in the process of development

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5
Q

Development

A

A process of improvement inn the conditions of people through diffusion of knowledge and technology

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6
Q

Fair Trade

A

A variation of international trade that provides greater equity to workers small businesses and consumers, focusing primarily on products exported from developing countries to developed countries

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7
Q

Female Labor Force Participation Rate

A

The percentage of women holding full time jobs outside the home

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8
Q

Foreign Direct Investment (FDI)

A

Investment made by a foreign company in the economy of another country

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9
Q

Gender Development Index (GDI)

A

An indicator constructed by the UN to measure the gender gap in the level of achievement in terms of income, education and life expectancy

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10
Q

Gender Inequality Index (GII)

A

An indicator constructed by the UN to measure the extent of each country’s gender inequality in terms of reproductive health, empowerment, and the labor market

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11
Q

Gender Social Norms Index (GSNI)

A

An indicator constructed by the UN to measure the strength of attitudes biased against women

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12
Q

Gross Domestic Product (GDP)

A

The value of the total output of goods and services produced in a country in a year, excluding money that leaves and enters the country

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13
Q

Gross National Income (GNI)

A

The value output of goods and services produced in a country in a year, including money that leaves and enters the country

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14
Q

Gross Nation Product (GNP)

A

The value of the output of goods and services produced by the residents and businesses of a country in a year regardless of whether they are located in a country or abroad

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15
Q

Human Development Index (HDI)

A

An indicator constructed by the UN to measure the level of development for a country through a combination of income, education and life expectancy

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16
Q

Inequality-adjusted Human Development Index (IHDI)

A

A modification of the HDI to account for inequality

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17
Q

Literacy Rate

A

The percent of a country’s people who can read and write

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18
Q

Microfinance

A

Provision of small loans and financial services to individuals and small businesses in developing countries

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19
Q

Millennium Development Goals

A

8 goals adopted by the UN in 2002 to reduce disparities between developed and developing countries by 2015

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20
Q

Multidimensional Poverty Index (MPI)

A

An index constructed by the UN that modifies the HDI to measure the complexities of the lives of people living in poverty

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21
Q

Planetary Pressures-Adjusted Human Development Index (PHDI)

A

An indicator constructed by the UN that modifies the HDI to account for a country’s carbon dioxide emissions per person and the amount of raw materials extracted per person to meet the country’s demand for goods and services

22
Q

Primary Sector

A

The portion of the economy concerned with the direct extraction of materials from Earth, principally through agriculture

23
Q

Productivity

A

The value of a particular product compared to the amount of labor needed to make it

24
Q

Pupil/teacher Ratio

A

The number of enrolled students divided by the number of teachers

25
Q

Purchasing Power Parity (PPP)

A

The amount of money needed in one country to purchase the same goods and services in another country

26
Q

Quaternary Sector

A

The portion of the economy concerned with information, and knowledge, based services

27
Q

Quinary Sector

A

The portion of the economy concerned with human services and hospitality

28
Q

Secondary Sector

A

The portion of the economy concerned with manufacturing useful products through processing, transferring, and assembling raw materials

29
Q

Structural Adjustment Program

A

Economic reforms that a developing country must adopt in order to secure financial support from the IMF the world bank, or a developed country

30
Q

Sustainable Development Goals

A

17 goals adopted by the UN in 20215 to reduce disparities between developed and developing countries by 2030

31
Q

Tertiary Sector

A

The portion of the economy concerned with the provision of goods and services to people in exchange for payment

32
Q

World-systems Theory

A

A theory developed by Immanuel Wallerstein that in an increasingly unified world economy developed countries form an inner core are whereas developing countries are found on the periphery and semi-periphery

33
Q

Apparel

A

An article of clothing

34
Q

Break-of-Bulk Point

A

A location where transfer is possible from mode of transportation to another

35
Q

Bulk-Gaining Industry

A

An industry in which the final product weighs more or comprises a greater volume then the inputs

36
Q

Bulk-Reducing Indutry

A

An industry in which the final product weighs less or compromises a lower volume then the inputs

37
Q

Cottage Industry

A

Manufacturing based in homes rather then in factories, most common prior to the industrial revolution

38
Q

Fordist production

A

A form of mass production in which each worker is assigned one specific task to perform repeatedly

39
Q

Industry

A

The manufacturing of goods in a factory

40
Q

Just-in-Time Delivery

A

Shipment of parts and materials to arrive at a factory moments before they are needed

41
Q

Labor Intensive Industry

A

An industry for which labor costs compromise a high percent of total expenses

42
Q

Maquiladora

A

A factory built by a US company in Mexico near the US border to take advantage of the much lower labor costs in Mexico

43
Q

New International Division of Labor

A

Transfer of some types of jobs, especially those requiring low-paid, less skilled workers, from developed countries to developing countries

44
Q

Outsourcing

A

A decision by a corporation to turn over much of the responsibility for production to independent suppliers

45
Q

Post-Fordist Production

A

Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks

46
Q

Right-to-Work Laws

A

A US law that prevents a union and a company from negotiating a contract that requires workers to join the union as a condition of employment

47
Q

Site Factors

A

Location factors related to the costs of factors of production inside a plan, such as land, labor, and capital

48
Q

Situation Factors

A

Location factors related to the transportation of materials into and from a factory

49
Q

Textile

A

A fabric made by weaving, use in making clothing

50
Q

Vertical Inegration

A

An approach typical of traditional mass production in which a company controls all phases of a highly complex production process

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