Vocabulary 1

Development

the process of a nation improving its standard of living industrialization and modernization

Urban

belonging to, or relating to, a city or town; high population density

Rural

relating to, or characteristic of the country, country life, or country people; low population density

Infrastructure

the basic systems and services, such as transport and power supplies, that a country or organization uses in order to work effectively

Economic

relating to trade, industry, and money (Example: The country has been in a very poor economic state ever since the decline of its two major industries)

Currency

the money used in a particular country (Examples: United States = Dollar; Japan = Yen)

Gross Domestic Product (GDP)

the total value of final goods produced and services provided in a country during one year

Per Capita

for each person considering all people in a group. Example: The per capita income (total income divided by the number of people) in the country is very low

Surplus

the amount that remains when use or need is satisfied

Natural resource

any of the materials such as water, coal, and wood that exist in nature and can be used by people

Literacy

the ability to read and write

Unemployment

individuals who are able to work and seek a job but are unable to find a job

Import

a product, commodity, or service that is brought in from another country for sale

Export

something sold and taken out of a country and into another

Life expectancy

measures the average age of death of a population

Gini Coefficient

is a measure of the distribution of income across a population, with 0 representing perfect equality and 1 representing perfect inequality

Empire

a sovereign state made up of several territories and peoples subject to a single ruling authority

Imperialism

is a policy of exerting cultural, economic, or political influence over other societies. Colonialism is a form of imperialism, but imperialism includes a broader array of policies that powerful states use to influence the affairs of weaker states

Colonialism

is the acquisition and exploitation of territory by a foreign power for its own economic and political benefit

Level 1

is made up of people who earn less than $2 a day and live in extreme poverty

Level 2

people earn between $2 and $8 a day. Almost half the world’s population lives at this income level

Level 3

is made up of people who live on between $8 – $32 per day

Level 4

the richest billion people on earth live at where their income is more than $32 a day