Unit 7A Study Guide Flashcards
Quinary Sector
Creating information and making high-level decisions
Tertiary Sector
Providing information and services to people
Human Development Index (HDI)
a summary measure of average achievement in key dimensions of human development
Rostow’s Stages of Development
A model of economic development that describes a country’s progression which occurs in five stages transforming them from least-developed to most-developed countries.
Multiplier Effect
The potential of a job to produce additional jobs (large in secondary sector jobs)
Commodity Dependence
An economy that relies on the export of primary commodities for a large share of its export earnings and hence economic growth; leads to instability with volatile nature of commodity prices
Dependency Theory
a model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones (imperialism)
Gender Gap
Differences in the privileges afforded to males and females in a society
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 the context of the world economy.
- The world economy has a three-tier structure. (Peripheral, Semi-peripheral, Core)
Purchasing Power Parity (PPP)
A measure of what similar goods cost in different countries; used to adjust for the variations in the price of goods in various countries
Gender Inequality Index (GII)
A composite measure of several factors indicating gender disparity. Includes: 1) Reproductive health, 2) Empowerment (education and representation ratio), 3) Labor market participation
What did industry look like before and after the Industrial Revolution?
