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Quaternary sector
This sector is defined as the industry based on human knowledge which involves technology, information, financial planning, research, and development.(ex. teaching, customer service)
GDP (gross domestic product)
The total value of officially recorded goods and services by the citizens and corporations within a country’s borders in a given year. goods + services
GNP (gross national product)
The total value of goods and services by the citizens and corporations of a country as well as foreign investments in a given year. domestic + international goods + services
GNI (gross national income)
The total amount of money earned by a nation's people and businesses. It is used to measure and track a nation's wealth from year to year accounting for impacts of trade. GDP + (exports + imports)
Formal economy
Regulated andor taxed by the government, included in GDP + GNI, typical professions.
Fossil fuels
A nonrenewable energy resource formed from the remains of organisms that lived long ago; examples include oil, coal, and natural gas.
Renewable energy
A resource that has a theoretically unlimited supply and is not depleted when used by humans.
Per capita
A measure of the total value of goods and services produced in a country, divided by the country's population.
TFR (total fertility rate)
An estimate of the average number of children born to each female in her childbearing years
IMR (infant mortality rate)
The total number of deaths in a year among infants under one year old for every 1,000 live births in a society.
Life expectancy
The average number of years an individual can be expected to live, given current social, economic, and medical conditions.
Literacy rate
The percentage of people ages 15 and above who can read and write.
HDI (human development index)
Measures the status of life in any given place based off of life expectancy, education levels, and income per capita. The higher the score, the more developed a country.
GII (gender inequality index)
A composite metric of gender inequality using three dimensions: reproductive health, empowerment and the labour market. A low GII value indicates low inequality between women and men.
MDC (most developed countries)
A country that's in the later stages of development. It has higher levels of industrialization and a lower population.
LDC (least developed countries)
Country that is at an early stage of development. It has a higher population and is mostly agrarian.
NIC (newly industrialized country)
A country whose economic development is between developing and highly developed classifications.
Rostow's stages of economy growth
Traditional Society; Preconditions for Take-Off; Take-Off; Drive to Maturity; and Age of High Mass Consumption. Rostow's model is one of the most significant historical models of economic growth.
Wallerstein's World Systems
Divides countries of the world into three groups based on political power, social standing, and economic and technological development.
Brandt line
A line that divides the North and the South. It shows the divide between the more developed regions and the less developed regions.