AP HuG - Vocab - Ch. 10

Adolescent Fertility Rate

the number of births per 1,000 women ages 15-19

Base Industry

an industry whose existence other industries and employment sectors depend (car manufacturers, paper plants, etc.)

Commodity Dependence

occurs when commodities account for more than 60% of the value of a country's total exports

Core

a country that is well-developed wth a strong economic base

Dependency theory

the core countries depend on the periphery for labor and raw materials while the periphery depend on the core for goods

Developed country

a country that has progressed relatively far along a continuum of development

Developing country

a country that is at a relatively early stage in the process of development

Development

a process of improvement in the conditions of people through diffusion of knowledge and technology

Fair trade

a variation of international trade that provides greater equity to workers, small businesses, and consumers, focusing primarily on products exported from developing countries to developed countries

Formal sector

the legal economy that is taxed and monitored by a government and is included in a governments GNI

Gender inequality index

an indicator constructed by the U.N. to measure the extent of each country's gender inequality in terms of reproductive health, empowerment, and the labor market

Gender parity

documenting progress toward gender equality using measures such as access to education, average incomes for women versus men, and workforce participation

Gross domestic product

the value of total output of goods and services produced in a country in a year, not accounting for money that leaves and enters the economy

Gross national income

the value of the output of goods and services produced in a country in a year, including money that leaves and enters the country

Gross national product

total value of goods and services by the citizens and corporations of a country as well as foreign investments in a given year

Human development index

an indicator constructed by the U.N. to measure the level of development for a country through a combination of income, education, and life expectancy

Inequality-adjusted Human Development Index

a modification of the HDI to account for inequality

Informal sector

the portion of an economy largely outside government control in which employees work without contracts or benefits

Literacy rate

the percentage of a country's people who can read and write

Microfinance

provision of small loans and other financial services to individuals and small businesses in developing countries

Periphery

a less-developed, economically poor country

Primary sector

the portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture

Productivity

the value of a particular product compared to the amount of labor needed to make it

Purchasing Power Parity (PPP)

the amount of money needed in one country to purchase the same goods & services in another country

Quaternary

knowledge-based section, focusing on research & information creation & transfer

Quinary

highest levels of decision making, includes top officials in government and business

Rostow's Stages of Development

the 5 stages of economic development in a society (traditional society, preconditions for takeoff, takeoff, drive to maturity, and high mass consumption)

Secondary sector

the portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials

Semi-periphery

newly industrialized countries with median standards of living

Tertiary sector

the portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment