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more developed country
also known as a relatively developed country or simply as a developed country, has progressed further along the development continuum
less developed country
a country in an earlier stage of development
Human Development Index
created by the United Nations, recognizes that a country's level of development is a function of all three of these factors
primary sector
directly extract materials from Earth through agriculture, and sometimes by mining, fishing, and forestry
secondary sector
includes manufacturers that process, transform, and assemble raw materials into useful products
productivity
the value of a particular product compared to the amount of labor needed to make it
value added
in manufacturing is the gross value of the product minus the costs of raw materials and energy
literacy rate
the percentage of a country's people who can read and write
Gender-Related Development Index
compares the level of women's development with that of both sexes
foreign direct investment
investment made by a foreign company in the economy of another country
transnational corporation
invests and operates in countries other than the one in which its headquarters are located
fair trade
means that products are made and traded according to standards that protect workers and small businesses in LDCs
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