Development and Energy in Economies

This set of flashcards reviews key vocabulary and concepts related to development and energy in economies, covering definitions that are essential for understanding global development issues.

Development

The process of improving the material conditions of people through the diffusion of knowledge and technology.

More Developed Countries (MDCs)

Also known as developed countries, these are countries in North America and Europe.

Lesser Developed Countries (LDCs)

Also known as developing or emerging countries, these primarily include countries in Sub-Saharan Africa and South Asia.

Primary Sector

The sector of the economy that extracts raw materials from the earth, including agriculture.

Secondary Sector

The part of the economy that processes and manufactures goods.

Tertiary Sector

The sector of the economy that provides services for payment, such as healthcare and education.

Human Development Index (HDI)

An index measuring a country's average achievements in health, education, and income.

Gross Domestic Product (GDP) per capita

A measure of a country's economic output that accounts for its number of people.

Gross National Income (GNI)

The total value of output of goods and services produced in a country annually, including income from abroad.

Purchasing Power Parity (PPP)

An economic theory that compares different countries' currencies through a market 'basket of goods' approach.

Life Expectancy

A statistical measure of the average time an individual is expected to live, based on the year of their birth.

Literacy Rate

The percentage of people who can read and write within a population.

Infant Mortality Rate

The number of infant deaths for every 1,000 live births in a given year.

Natural Increase Rate (NIR)

The difference between the number of live births and the number of deaths during a specific period.

Access to Knowledge

The ability to gain the necessary information and education required for personal and societal development.

Gender Inequality Index (GII)

A measure reflecting inequality between men and women in a number of areas such as reproductive health and political participation.

Organization of the Petroleum Exporting Countries (OPEC)

An intergovernmental organization of oil-exporting nations that coordinates the petroleum policies of its member countries.

Fossil Fuels

Natural fuels formed from the remains of living organisms, primarily coal, oil, and natural gas.