AP Human Geography Unit 7: Development

These are flashcards made for my AP Human Geography class

Demand

The desire and ability of consumers to purchase goods and services at various prices in a given market.

Development

The process of economic growth, expansion of capabilities, and improvements in living standards within a society.

Fair Trade

An organized social movement aimed at helping producers in developing countries achieve better trading conditions and promote sustainability.

Foreign Direct Investment (FDI

Investment made by a company or individual in one country in business interests in another country, typically through establishing business operations or acquiring assets.

Gender Inequality Index (GII)

A measure that calculates the inequality between women and men in three dimensions: reproductive health, empowerment, and the labor market.

Gross Domestic Product (GDP)

Economic measure of a country's total production of goods and services within a specific time period.

Gross National Income (GNI)

The total income earned by a country's residents and businesses, including any income earned abroad, usually measured annually.

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.

Inequality-adjusted HDR (IHDI)

A measure that accounts for inequality in the distribution of each dimension of the HDI, reflecting the average achievement of a country in health, education, and income.

Microfinance

A financial service that provides small loans to individuals, typically entrepreneurs in developing countries, to promote economic development.

Literacy Rate

The percentage of people who can read and write in a specific language or languages within a given population, typically used as an indicator of education quality and accessibility.

Millennium Development Goals

A set of eight international development goals established following the Millennium Summit of the United Nations in 2000, aimed at addressing global issues such as poverty, education, and health by 2015.

Primary Sector

The part of the economy that involves the extraction and harvesting of natural resources, including agriculture, mining, fishing, and forestry.

Purchasing Power Parity (PPP)

A method used to compare the relative value of currencies, ensuring that the same goods cost the same in different countries, thereby providing a more accurate measure of economic productivity and living standards.

Secondary Sector

The segment of the economy that processes raw materials into finished goods, encompassing industries such as manufacturing, construction, and food processing.

Structural Adjustment Program

Economic policies implemented by countries to enhance financial stability and encourage growth, often requiring austerity measures and economic reforms in exchange for loans from international financial institutions.

Supply

the total amount of a product or service that producers are willing and able to offer for sale at various prices over a specified period.

Tertiary Sector

The segment of the economy that provides services instead of goods, including sectors such as retail, healthcare, and education.

Uneven development

The disparity in economic growth and resources between different regions or countries, often leading to social and economic inequalities.

Dependency Theory

a theory suggesting that the economic growth of certain countries depends on the exploitation and resources of less developed nations, leading to a cycle of dependency.

Rostow’s model of development

a theoretical framework proposing that all countries progress through five stages of economic growth, from traditional society to high mass consumption.

Four Asian Dragons

The term refers to four highly developed economies in East Asia—Hong Kong, Singapore, South Korea, and Taiwan—that experienced rapid industrialization and economic growth between the 1960s and 1990s.

International Monetary Fund (IMF)

An international organization that provides financial assistance and advice to member countries to promote global economic stability and growth.

Quaternary Sector

The part of the economy focused on knowledge-based activities involving services such as education, research, and information technology.

Quinary Sector

The segment of the economy that involves high-level decision making and specialized services, including healthcare, education, and scientific research.

World Bank

An international financial institution that provides loans and grants to the governments of developing countries for the purpose of pursuing capital projects and reducing poverty.

World Trade Organization (WTO)

An intergovernmental organization that regulates international trade and aims to ensure that trade flows as smoothly, predictably, and freely as possible. It provides a framework for negotiating trade agreements and settling trade disputes.