Vocabulary Quiz Unit 1 (Economic Development)

Primary Sector

extraction of raw materials.

IHDI

uses the same indicators as HDI, but adjusts to the inequalities facing some countries.

Secondary Sector

manufacturing.

Development

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

Tertiary Sector

services.

Dependency Theory

the idea that core countries and periphery/semi-periphery countries rely on one another.

periphery country

less developed countries that receive a small share of global wealth.

HDI

 uses economics, social indicators and demographics to rank countries. The perfect score is 1.0.

Globalization

connections of different parts of the world. Business, organizations and companies operating internationally.

MDC

well developed and industrialized.

GII

 compares levels of development of women to that of men.

GDP

how much stuff is being produced in a nation.

Commercial Agriculture

raise animals and crops for profit, mainly used in MDCs.

Core Country

industrialized capitalist nations that benefit from the global market.

Preservation

protects the environment from harmful human activities.

Sustainability

the use of Earth’s resources in ways that do not constrain resource use for the future.

LDC

typically lower income and facing development problems.

Outsourcing

turning over the responsibility for production to independent suppliers.

Subsistence Agriculture

produces food for your own consumption, mainly used in LDCs.

World Bank

funds development projects through loans and grants

Conservation

protecting Earth’s natural resources for current and future generations. 

semi-periphery country

industrializing nations that are mostly capitalist.

transnational corporation

conduct research, operate factories, and sell products in many countries, not just where the headquarters is located

GNI

the total amount of money earned by a nation’s people and businesses, both inside and outside the country’s borders.