Chapter 9 (reading) : Economic Development & the Americas

Time zone

A region of the globe that observes a uniform standard time for legal, commercial, and social purposes

Economic change

A shift in the structure of an economic system

Growth factors

Things a business has or utilizes (such as technology, advanced performance measurement, or social media) in order to help grow the company.

Market metrics

Measurable values that are used by marketing teams to demonstrate the effectiveness of campaigns across all marketing channels

Economic Development

Generally understood to mean an increase in national production reflected by an increase in the average per capital gross domestic product (GDP) or gross national income (GNI)

Trade association

Also known as an industry trade group, business association, sector association or industry body, is an organization founded and funded by businesses that operate in a specific industry

Newly industrialized countries (NICs)

Countries that are experiencing rapid economic expansion and industrialization and do not exactly as LDCs or MDCs

Infrastructure

Represents those types of capital goods that serve the activities of many industries

Big emerging markets (BEMs)

Countries with half the world’s population and account for 25% of the industrialized world’s GDP

Desynchronosis

when time zones make a difference and jet lag is an important problem.

Where does the economic development of a country begin?

At the regions economic base

what does infrastructure represent?

the types of capital goods that serve the activities of many industries

When did United States, Mexico, and Canada sign the NAFTA?

Dec 17,1992

True or False. A time zone map can be used to see the various time zones across the world when trying to coordinate an international meeting.

True

Based on the lecture, what are the recent changes that are driving the new economic growth?

transitions from socialist to market-driven economies, the liberalization of trade policies, and public sector enterprises being transferred to the private sectors

What is the term which refers to an increase in the ability of an economy to produce goods or services over time?

economic growth

Which of Rostow's stages of economic growth is marked by a few key industries driving economic growth?

take off

Which of the following is NOT one of Rostow's five stages of economic development?

Technological society

Based on the lecture, which of the following are included in a country's infrastructure?

seaports, communication networks, and financial networks

Which of the following countries are part of the Dominican Republic-Central America FTA (CAFTA-DR)?

Honduras

True or False. Information Communication Technology has created jobs and enabled development but has stifled innovation.

false

Based on the lecture, which of the following is a trait of Big Emerging Markets (BEMs)?

significant programs of economy