AP HUG OFFICIAL VOCAB LIST UNIT 5 REAL REAL REAL

Primary sector

Economic activities that extract natural resources from the Earth.

Extracting materials from the earth

Secondary sector

Economic activities that turn raw materials into manufactured goods. (making goods)

factories and constructing

Tertiary Sector

Economic activities that provide services rather than goods.

Doctors, lawyers, education

Quaternary sector

Economic activities focused on information, research, and technology.

(KNOWLEDGE, RESEARCH, TECH)

Quinary sector

Economic activities that provide care and social services to people (EX: Childcare, elder care, social work)

Gross National Product (GNP)

The total value of goods and services produced by a country’s citizens

Gross National Income (GNI)

Measures the total income earned by a country’s citizens and companies

GDP

The total value of goods and services produced within a country’s borders. (If it was made within US borders

Remittances

Money sent by workers to their families in another country. (Ex: Pakistan and indiaaa send back home from the slave labor of qatar and uae!!)

Per capita

A measurement that shows an average per person. (Like for example GDP/PC = Standard of Living!)

Purchasing Power Parity (PPP) ex: 1 usd to 300 pkr yummy burger

A way to compare how much money can buy in different countries.

Formal sector (formal = regulated = jobs that are recognized by the government)

Jobs that are regulated and taxed on

Informal sector (informal = bad = not recognized by government - babysitting or dog walking)

Jobs that are unregulated and not taxed by the government.

Gini coefficient

A number that measures income inequality within a country.

Life expectancy

avg number of years someone is expected to live.

Literacy rate

The percentage of people who can read and write.

Gender gap

Differences in opportunities and treatment between men and women.

GII

A measure of inequality between men and women in opportunities

HDI

A measure of development based on standard of living

NGOs (Non-Governmental Organizations like JDC foundation or non-profits (not under government rule of course)

Organizations that provide aid or services without government control.

Stages of Economic Growth

A model explaining how countries develop economically over time. ROSTOW!!

World Systems Theory

A theory that explains global inequality by dividing countries into core, semi-periphery, periphery

Wallerstine made this

Core - rich countries

Semi - Periphery - middle sorta countries

periphery - poor countries

Core-Periphery Model

A model showing how wealthy countries dominate poorer ones economically.

Dependency model

A theory stating that poorer countries depend on richer countries

(Theory talking abt how a country who poor country depends on richer countries ex: the uae and pakistan labor thing where people are trapped in this cycle of relying on an outsider nation just to make money cuz their country is so poor that they can’t rely on it for making a sustainable money source which also leads into men working for their family and sending their remittances back home.)

Commodities (Raw materials made for money)

Raw materials or agricultural products that are sold for profit.

Commodity Dependence (Ex: Mexico relying too much on cocaine and meth for moolah).

When a country relies heavily on one or a few raw materials for income.

Sustainability

Using resources in a way that does not harm future generations.

Sustainable development

Economic growth that meets current needs without harming the environment.

Ecological footprint

How much land and resources are used by a country

SDI

Measure showing how well a country develops without harming the environment and sustainably growing.

---

(Sustainable Devlopment Index)

Adolescent fertility rate

The number of births per 1,000 women ages 15–19.

Cooperative store

A business owned and operated by its members for shared benefit.

Developed country

A country with high levels of income

Developing country

A country with lower income levels and less industrial development.

Development

Improvement in a country’s quality of life

Fair trade

A system that ensures producers receive fair pay and safe working conditions.

Female labor force participation

The percentage of women who are working or seeking work.

FDI

Money invested by a company in business operations in another country.

HDC

A country with a high level of economic and social development.

Inequality-adjusted HDI

The HDI modified to account for inequality within a country. Ex: one good side of pakistan is shwon with wealthy individuals, this does not mean pakistan is rich since 90% of the people are poor bringing the HDI lower as you incldue the inequality!


Basically how much development is lost because not everyone benefits equally.

LDC (Least Developed Country)

A country with very low income and limited development.

Maternal mortality rate

The number of women who die from childbirth per 100,000

MDC

A country with advanced economic and social systems. (developed)

Microfinance

Small loans given to poor individuals to start businesses.

Productivity

The amount of output produced per worker.

Pupil/teacher ratio (Pupils to teachers in a school ex: 1:23)

The average number of students per teacher in a school.

Value added

The increase in value of a product during production (raw material to product)