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Primary sector
extracting natural resources from the earth
Secondary sector
making products from natural resources
Tertiary sector
providing information and services to people
Quaternary sector
managing and processing information
Quinary sector
creating information and making high-level decisions
GDP
Gross Domestic Product, the dollar amount of all final goods and services produced within a country in one year
GNP
Gross National Product, the dollar amount of all goods and services produced by a country’s citizens in one year
GNI
Gross National Income, the dollar amount of all goods and services produced by a country’s citizens in one year
Formal eco sector
the portion of the economy that is monitored by the government
Informal eco sector
the portion of the economy that is not monitored by the government
Gini Coefficient
a measure of the distribution of income within a population
Fossil fuels
non-renewable energy sources like gas, coal, and petroleum that are formed in the earth’s crust from decayed organic material
Renewable energy
natural energy sources that can be replaced quickly and are plentiful
Per capita
an amount per person
TFR
Total Fertility Rate, the average number of children who would be born per woman of that group in a country (assuming every woman lived through her childbearing years)
IMR
Infant Mortality Rate, the number of children who die before their first birthday
Life expectancy
the number of years someone is expected to live
Literacy rate
the percentage of the population that can read and write (usually above 8th grade)
HDI
Human Development Index, a measure that reflects human well-being that combines GNI per capita with life expectancy, expected years of schooling, and average years of schooling
GII
Gender Equality Index, a composite measure of several factors indicating gender disparity
MDC
More Developed Country
LDC
Less Developed Country
NIC
Newly Industrialized Country
Rostow’s stages of economic growth
modernization theory that focuses on the shift from traditional to modern forms of society
Wallerstein’s World Systems
alternative model to Rostow’s theory, but it is a dependency model (countries do not exist in isolation but are part of the intertwined world system of dependency and depend on one another)
Brandt Line
a line that divides the earth into North and South; shows the divide between MDCs and LDCs