Cluster 1 + 2 of AP HUG VOCAB

Developed Country (MDC)

A nation with a highly developed economy and advanced technological infrastructure, often characterized by high levels of income, education, and healthcare.

Developing Country (LDC)

A nation with a lower level of industrialization, lower income, and poorer infrastructure compared to developed countries, often facing challenges in education and healthcare.

Development

The process of improving the economic, social, and political conditions of a country or region, often measured by factors such as income, education, and healthcare.

Gross National Product (GNP)

The total value of all goods and services produced by a nation's residents, including those produced abroad. GNP measures the economic performance of a country's inhabitants, regardless of where the production takes place.

Gross National Income (GNI)

The total income earned by a nation's residents and businesses, including any income earned abroad, used to measure economic performance.

Gross Domestic Product (GDP)

The total value of all goods and services produced within a country's borders in a specific time period, used to gauge the health of a nation's economy.

Human Development Index (HDI)

A composite index that measures a country's average achievements in health, education, and income, providing a broader understanding of human development.

Primary Economic Sector

Activities/jobs that extract or harvest natural resources, such as agriculture, mining, fishing, and forestry.

Secondary Economic Sector

Activities/job that transform raw materials into finished goods, including manufacturing, construction, and processing. It represents a key stage in the production process.

Tertiary Economic Sector

Jobs that provide services rather than goods, including retail, healthcare, education, and finance, playing a crucial role in the economy.

Quaternary Economic Sector

Activities related to knowledge-based services, such as research, information technology, and education, focusing on intellectual services and management.

Quinary Economic Sector

Activities involving high-level decision making and top-level management, focusing on services that require specialized knowledge, such as scientific research, non-profit organizing, and high-level consulting.

Formal Economic Sector

Jobs that are officially recognized, regulated, and taxed by the government.

Informal Economic Sector

Jobs that are not officially recognized, regulated, or taxed by the government, often involving casual or temporary labor.

Dual Economies

Economic systems where two distinct sectors exist, typically a formal and an informal sector, with varying levels of development and opportunities.

Semi-Periphery Country

A nation that has some characteristics of both developed and developing countries, often playing a role in the global economy by producing and exporting goods while retaining some socioeconomic issues.

Newly Industrialized Country (NIC)

A country that is transitioning from an agricultural-based economy to an industrialized economy, typically characterized by rapid economic growth and development.

BRICS

An acronym for a group of five major emerging economies: Brazil, Russia, India, China, and South Africa, which collaborate for economic development and cooperation.

Post-Industrial Economy

An economy where service and information jobs become more important jobs become more important than manufacturing job.

Renewable Energy

Energy from sources that naturally replenish, such as solar, wind, and hydroelectric power.

Gender Empowerment

The amount of power and opportunities women have in society, politics, and economy

Human Development Index (HDI)

A composite statistic of life expectancy, education, and per capita income indicators used to rank countries into four tiers of human development.

Literacy Rate

The percentage of people who can read and write in a specific language and within a certain age group. This metric is crucial for assessing educational outcomes and development.

Life Expectancy

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

Microfinance

Providing small financial services, such as loans, to low-income people who may not have access to regular banks.

Gender Inequality (GII)

A measure of inequality between men and women based on health, empowerment, and employment.

Infant Mortality Rate

The number of infants dying before reaching one year of age, per 1,000 live births in a given year.

Adolescent Fertility Rate

The number of births per 1,000 women aged 15 to 19 in a given year.

Total Fertility Rate (TFR)

The average number of children a woman would have during her lifetime based on current birth rates.

Microloans

Small loans given to people in developing countries to start businesses or improve their living conditions.