Econ Third World

GDP

Gross domestic product - how much money a country produces only by people within the country

GNP

Gross National Product- money produced by people for a nation no matter where they live

World Bank

Bank that provides grants and funding for countries large projects

I MF

International Monetary Fund - leader of last resort if the country agrees to conditions

developing nation

Nation with a low gdp, little infrastructure

Ex: Zimbabwe Uganda Bangladesh

developed nation

Nation with high gdp and infrastructure

Ex: US, UK, Canada, Netherlands

free trade

Get goods without paying taxes

birth rate

How many babies are born

capital development

Investments in infrastructure and individuals 

population growth

The rate the population grows- amount of birth in relationship to death