Adolescent fertility rate- The number of births per 1,000 women ages 15 to 19.
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.
Female labor force participation rate- The percentage of women holding full-time jobs outside the home.
Foreign direct investment (FDI)- Investment made by a foreign company in the economy of another country.
Gender Development Index (GDI)- An indicator constructed by the U.N. to measure the gender gap in the level of achievement in terms of income, education, and life expectancy.
Gender Inequality Index (GII)- 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.
Gross domestic product (GDP)- The value of the total output of goods and services produced in a country in a year, not accounting for money that leaves and enters the country.
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.
Human Development Index (HDI)- 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 (IHDI)- A modification of the HDI to account for inequality.
Literacy rate- The percentage of a country’s people who can read and write.
Microfinance- Provision of small loans and financial services to individuals and small businesses in developing countries.
Millennium Development Goals- Eight goals adopted by the U.N. in 2002 to reduce disparities between developed and developing countries by 2015.
Primary sector- The portion of the economy concerned with the direct extraction of materials from Earth, generally through agriculture.
Productivity- The value of a particular product compared to the amount of labor needed to make it.
Pupil/teacher ratio- The number of enrolled students divided by the number of teachers.
Purchasing power parity (PPP)- The amount of money needed in one country to purchase the same goods and services in another country.
Secondary sector- The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
Structural adjustment program- Economic policies imposed on less developed countries by international agencies to create conditions that encourage international trade.
Sustainable Development Goals- Seventeen goals adopted by the U.N. in 2015 to reduce disparities between developed and developing countries by 2030.
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.
World-systems theory- Theory developed by Immanuel Wallerstein that in an increasingly unified world economy developed countries form an inner core area whereas developing countries are found on the periphery and semi-periphery.
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