Economic Performance and Industrial Structure of Our Country

Vocabulary practice flashcards covering economic development indicators, formulas, industrial sectors, and structural changes since reform and opening-up.

Gross Domestic Product (GDP)

The total market value of all products and services produced within a country or region in a given period, reflecting the overall economic size and performance.

GDP Growth Rate

The percentage rate of change in economic output over time, calculated as $\frac{\text{GDP of the current period} - \text{GDP of the previous period}}{\text{GDP of the previous period}} \times 100\%$. A positive value indicates economic growth, whereas a negative value indicates economic decline.

Gross Domestic Product per capita (GDP per capita)

The average economic output per resident, calculated as $\frac{\text{GDP}}{\text{Total population}}$, used to measure a nation's wealth, average income level, and living standard.

Gross National Income (GNI)

The total income earned by residents of a country or territory in a given period from economic activities conducted both within and outside the territory.

World Bank Income Groups

A four-tier classification system categorizing world economies based on GNI per capita into high-income, upper-middle income, lower-middle income, and low-income countries (with China categorized as an upper-middle income country).

Labour Force

The total population aged 16 and above that is economically active, consisting of both the employed population and the unemployed population.

Unemployment Rate

The percentage of unemployed individuals within the total labour force, calculated as $\frac{\text{Unemployed population}}{\text{Employed population} + \text{Unemployed population}} \times 100\%$.

Inflation

The continuous increase in the general price level of goods and services, which leads to a decline in the purchasing power of money.

Inflation Rate

The rate at which general prices increase, calculated as $\frac{\text{CPI of the current year} - \text{CPI of the previous year}}{\text{CPI of the previous year}} \times 100\%$, reflecting changes in the cost of living.

Consumer Price Index (CPI)

An economic index tracking general price level changes relative to a base period (equal to 100), where an index above 100 reflects rising prices and an index below 100 reflects falling prices.

Industrial Structure

The composition and proportional breakdown of a country's industries across primary, secondary, and tertiary sectors.

Primary Industry

Production activities that directly extract natural resources from the environment to provide food and raw materials, including agriculture, forestry, animal husbandry, and fishery.

Secondary Industry

Production activities that process raw materials into finished or semi-finished goods and provide production tools, such as manufacturing, construction, and the supply of water and energy.

Tertiary Industry

The service-oriented sector providing various services to producers and consumers, including retail, catering, logistics, transport, finance, and real estate.

Inter-relationship Diagram

A visual structural diagram that connects related industrial or operational blocks with arrows to depict mutual dependencies, workflows, and economic relationships.