industrial and economic development patterns and processes

development

the process of improving the conditions of people through 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, though less than the developed countries

International Division of Labor

transfer of some types of jobs, particularly those requiring low-paid and less-skilled workers from more developed to less developed countries

New International Division of Labor

a system of employment in the various economic sectors spread throughout the world (core, semi-periphery and periphery countries)

Human Development Index (HDI)

the UN measurement of level of development in a country based on a decent standard of living, a long and healthy life and access to knowledge (on a 1.0 scale)

Gross National Income (GNI)

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

Purchasing Power Parity (PPP)

an adjustment made to the GNI to account for differences among countries in the cost of goods

Gross Domestic Product (GDP)

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

productivity

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

value added

the gross value of a product minus the costs of raw materials and energy

Years of Schooling for Today's Adults

measure of the number of years that the average person aged 25 or older in a country has spent in school

Expected Years of Schooling for Today's Youth

measure of the number of years that the average 5-year-old will spend in school

pupil/teacher ratio

the number of enrolled students divided by the number of teachers

literacy rate

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

primary sector

activities that directly extract materials from the Earth through agriculture and sometimes by mining, fishing, and forestry

secondary sector

manufacturers that process, transform, and assemble raw materials into useful produces, as well as industries that fabricate manufactured goods into finished consumer goods

tertiary sector

the provision of goods and services to people in exchange for payment, such as retailing, banking, law, education, and government

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 aged 15 to 19

commodity dependence

when a country relies primarily on one commodity to drive its economy

cottage industry

home-based manufacturing system

fossil fuels

energy sources formed from the residue of plants and animals buried millions of years ago

animate power

power supplied by animals or by people themselves

biomass fuel

rats fuels such as wood, plant material and animal waste that is used to supplement animate power

labor flexibility

the degree to which employment is based on market mechanisms of supply and demand rather than on government regulation

enterprise zones

economically distressed areas of a state or city where businesses can take advantage of a wide variety of incentives

skilled labor

workers with specialized training and skills

export processing zones (EPZs)

rats physical spaces within a country where special regulations benefit foreign-controlled businesses

brownfields

sites of abandoned factories

technopole

a hub for information-based industry or high-tech manufacturing

spin-off benefits

rats positive outcomes in addition to the main outcome of economic growth pole politics

backwash effects

possible downsides of growth poles

cooperative store (co-op)

a member-owned, member-governed business that operates for the benefit of its members according to common principles

fair trade

international trade that provides greater equity to workers, small businesses, and consumers

Fordism

early 20th century system of mass production in which an item moves from worker to worker, with each worker performing the same task repeatedly

Post-Fordism

reduction of workers in factories, largely due to mechanization/automation; the small number of workers who work in this type of system are often trained to do more than one job, so they can rotate through different stations throughout the day

comparative advantage

the ability of a person or country to produce a particular good at a lower cost than another person or country

complementarity

measurement used to measure the degree of compatibility between two potential trade partners

single market manufacturer

a manufacturer that produces one kind of good to send to other companies

Just in Time delivery

shipment of parts and materials to arrive at a factory moments before they are needed

Break of Bulk point

a location where transfer is possible from one mode of transportation to another