Chapter 10 Unit 7 Industry Development

Development

The process of improving people's conditions through the diffusion of knowledge and technology.

Developed Country (MDC)

A country that has progressed further along the development continuum.

Developing Country (LDC)

A country that has made some progress toward development, but less than developed countries.

Human Development Index (HDI)

A measure combining a decent standard of living, a long and healthy life, and access to knowledge.

Gross National Income (GNI)

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

Purchasing Power Parity (PPP)

An adjustment made to the GNI to account for differences in the cost of goods between countries.

Gross Domestic Product (GDP)

The value of goods and services produced in a country within one year, excluding money that crosses borders.

Primary Sector

Economic activities that directly extract materials from Earth, such as agriculture, mining, fishing, and forestry.

Secondary Sector

Manufacturers that process and assemble raw materials into products.

Tertiary Sector

The provision of goods and services in exchange for payment.

Productivity

The value of a product relative to the labor required to produce it.

Pupil/Teacher Ratio

The number of enrolled students divided by the number of teachers.

Literacy Rate

The percentage of a country’s population that can read and write.

Life Expectancy

The average number of years a person is expected to live.

Inequality-Adjusted Human Development Index (IHDI)

Modifies the HDI to account for inequality within a country.

Gender Inequality Index (GII)

Measures the gender gap in achievement across reproductive health, empowerment, and labor market participation.

Gender Development Index (GDI)

Measures the gender gap in achievement across income, education, and life expectancy.

Female Labor Force Participation Rate

The percentage of women holding full-time jobs outside the home.

Adolescent Fertility Rate

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

Maternal Mortality Rate

The number of women who die giving birth per 100,000 births.

Self-Sufficiency Model

An approach where countries encourage domestic production and restrict foreign competition.

Rostow’s International Trade Model

A model outlining five stages of development in countries.

World Trade Organization (WTO)

An organization that reduces trade restrictions and enforces international trade agreements.

Foreign Direct Investment (FDI)

An investment made by a foreign company in the economy of another country.

Microfinance

An alternative source of loans providing small loans and financial services to individuals or small businesses in developing countries.

Austerity

Policies aimed at reducing government spending and taxes.

Structural Adjustment Program

A program containing economic reforms aimed at improving a country's financial situation.

Fair Trade

International trade that ensures equitable conditions for workers and small businesses in developing countries.