Changing Economic World Key Terminology

Aid

when a country or NGO donates resources to another country to help it develop or improve people’s lives

Birth rate

the number of births a year per 1000 of the total population

Death rate

the number of deaths in a year per 1000 of the total population

Debt relief

cancellation of debts to a country by a global organisation such as the World Bank

Development

the economic progress of a country and improvements to quality of life

Development gap

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

Displaced person

a person who is forced to move from home but stays in their country of origin

Economic migrant

a person who moves voluntarily to seek a better life, such as a better-paid job

Emigration

the migration of people out of a country

Fairtrade

producers in LICs given a better price for their goods such as cocoa, coffee and cotton

Gross National Income (GNI)

measurement of economic activity calculated by dividing the gross (total) national income by the size of the population

Human Development Index (HDI)

a method of measuring development where GNI per capita, life expectancy and adult literacy are combined

Immigrant

a person who moves into a country

Immigration

the migration of people in to a country

Infant mortality rate

the number of babies that die under a year of age, per 1000 live births

Life expectancy

the average number of years a person is expected to live.

Loan

a sum of money borrowed to be paid back on agreed terms

Malaria

a life-threatening disease transmitted to people by infected mosquitoes

Microfinance loans

very small loans which are given to people in LICs to help them start a business

Migration

when people move from one area to another

Refugee

a person forced to move from their country of origin as a result of civil war or a natural disaster such as an earthquake

Trade

buying and selling of goods and services between countries

Trading group

countries which have grouped together to increase trade between them by cutting taxes to discourage trade with non-members