the changing economic world - vocabulary

define birth rate

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

define business parks

purpose built areas of offices and warehouses, often at the edge of a city and on a main road

what is the Commonwealth?

a voluntary association of 56 independent and equal sovereign states which were mostly territories of the former British Empire

define death rate

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

define de-industrialisation

the decline of a country’s traditional manufacturing industry due to exhaustion of raw materials, loss of markets and increasing competition from NEEs

what is the demographic transition model?

a model showing how populations change over time in terms of their birth rates, death rates and total population size

define development

the progress of a country in terms of economic growth, the use of technology and human welfare

define development gap

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

what is the European Union?

an international organisation of 27 European countries

define Fairtrade

a system that ensures producers in LICs and NEEs are given a fairer price for the goods they produce

define globalisation

the process that has created a more connected world, with increases in the movements of goods and people worldwide

define Gross National Income (GNI)

a measurement of economic activity that is calculated by dividing the total national income by the population size

define Human Development Index (HDI)

a method of measuring development which combines GDP per capita, life expectancy and adult literacy

define industrial structure

the relative proportion of the workforce employed in different sectors of the economy

define infant mortality

the average number of deaths of children under 1 year of age, per 1000 live births, per year

define information technologies

computer, internet, mobile phone and satellite technologies - especially those that speed up communication and the flow of information

define intermediate technology

technology that is suited to the needs, skills, resources, knowledge and wealth of local people in the environment in which they live

define international aid

money, goods and services given by the government of one country or a multilateral institution such as the World Bank to help the quality of life and economy of another country

define life expectancy

the average number of years a person might be expected to live

define literacy rate

the percentage of people who have basic reading and writing skills

define microfinance loans

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

define the north-south divide (UK)

economic and cultural differences between Southern England and Northern England

define the post-industrial economy

the economy of many economically developed countries where most employment is now in the tertiary sector

define science parks

areas often located near university sites where scientific and commercial research are carried out

define tertiary industries

the economic activities that provide various services

define trade

the buying and selling of goods between countries

define transnational corporation (TNC)

a company that has operations in more than one country