Development, Globalisation, Aid, and Population Vocabulary

Vocabulary flashcards covering development concepts, globalisation, trade, aid types, development models, sustainability, South Africa development programs, and population metrics.

Development

Improvement in economic and social conditions and quality of life.

Economic development

Growth of productive activities that increases employment, wealth and economic activity.

Economic growth

Increase in the wealth of a nation.

Development gap

Difference in development between wealthy developed countries and poorer developing countries.

MEDC

More Economically Developed Country; a developed country with a high standard of living.

LEDC

Less Economically Developed Country; a relatively poor country experiencing economic growth.

HDI

Human Development Index; measures health, education and standard of living.

GNI per capita

GNI divided by population; indicates average income per person.

GDP per capita

GDP divided by population; indicates average economic output per person.

Gini coefficient

Indicator of income distribution/inequality.

GII

Gender Inequality Index; measures inequality between men and women.

Globalisation

Increasing interconnectedness of countries through people, ideas and economic activities.

International trade

Exchange of goods, services, capital, labour and information between countries.

Imports

Goods brought into a country.

Exports

Goods sold/transported out of a country.

Trade surplus

When $\text{exports} > \text{imports}$.

Trade deficit

When $\text{imports} > \text{exports}$.

Balance of trade

Relationship between the value of a country's exports and imports.

Free trade

Trade with few/no government restrictions.

Protectionism

Government policies that restrict trade to protect local businesses and jobs.

Tariff

Tax placed on imported goods.

Quota

Limit on the amount of a product that can be imported.

Trade barrier

Restriction or cost placed on international trade.

Dumping

Exporting goods at a price below their normal value or production cost.

Development aid

Money, knowledge or skills given to developing countries to support development.

Bilateral aid

Aid given directly by one government to another.

Multilateral aid

Aid given through an international organisation involving several governments.

Humanitarian aid

Emergency aid intended to reduce human suffering.

Tied/conditional aid

Aid given on the condition that it is spent on goods/services from the donor country.

Inappropriate aid

Aid that ignores local conditions, customs or actual needs.

Misused aid

Aid that is improperly used, often because of corruption.

Unreliable aid

Aid that arrives late or is less than promised.

Core

Economically advantaged area with high capital, infrastructure and employment.

Periphery

Area of low or declining economic development.

Core-periphery model

Model explaining differences in economic development between core and peripheral areas.

Rostow's model

Development model based on five linear stages.

Modernisation

Development through economic growth, technology and industrialisation.

Export-led development

Strategy of increasing exports to increase wealth and catch up with developed countries.

Multiplier effect

Economic activity creates employment and markets, attracting further development.

Sustainable development

Development balancing economic, social and environmental needs without compromising future generations.

Sustainability

Meeting present needs without preventing future generations from meeting their needs.

Carrying capacity

Maximum population an environment's resources can support.

Sustainable resources

Resources that can continue to be used without significantly reducing their supply.

Fossil fuels

Coal, oil and natural gas formed during past geological periods.

Biomass fuel

Organic material such as wood, dung and crop residue burned for energy.

BEE

Black Economic Empowerment.

RDP

Reconstruction and Development Programme; government programme to rebuild and develop SA after apartheid.

SDI

Spatial Development Initiative; strategy to unlock economic potential, attract investment and create jobs.

IDZ

Industrial Development Zone; area designed to promote industrial growth and employment.

SADC

Southern African Development Community; regional organisation promoting peace, development and cooperation.

Brain drain

Loss of skilled professionals who leave their country for jobs elsewhere.

Remittances

Money migrant workers send back to their home country.

Fertility rate

Average number of children a woman has/could have during her fertile years.

Infant Mortality Rate (IMR)

Number of deaths of babies under one per $1,000$ live births.

Life expectancy

Average number of years a person is expected to live.