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47 Cards in this Set
- Front
- Back
Commodity Chain |
Series of links connecting the many places of production and distribution and resulting in a commodity that is on world market
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Developing |
Relating to societies in which capital needed to industrialize is in short supply
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Per capita GNI |
The Gross National Product of a given country divided by its population
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Formal Economy |
Legal economy that's taxed and monitored by a government and is included in a government's Gross National Product; as opposed to an informal economy
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Informal Economy |
Economic activity that's neither taxed nor monitored by a government; and isn't included in that government's Gross National Product; as opposed to a formal economy
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Modernization Model |
Model of economic development most closely associated with the work of economist Walter Rostow. The modernization model (sometimes referred to as modernization theory) maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption
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Context
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Circumstances of a situation; environment
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Neo-colonialism
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Process of acculturation or cultural imperialism through which forms of industrial, political and economic organization are often imposed on other cultures under the guise of getting aid in the form of technological and industrial "progress", but it can still lead to good things, like bringing needed infrastructure
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Structuralist Theory
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General term for a model of economic development that treats economic disparities among countries or regions as the result of historically derived power relations within the global economic system
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Dependency Theory
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Model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones
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Dollarization
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When a poorer country ties the value of its currency to that of a wealthier country, or when its abandons its currency and adopts the wealthier country's currency as its own
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World-systems Theory
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Wallerstein's theory of the core, semi periphery, periphery, and external areas. The core benefited the most from the development of a capitalist world economy. Semi periphery was the buffer between the core and periphery. periphery are states that lack strong central gov'ts or are controlled by other states. External areas are states that maintained their own economic system and for the most part, remained outside of the capitalist world economy
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Three-tier Structure
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With reference to Immanuel Wallerstein's world-systems theory, the division of the world into the core, the periphery, and the semi-periphery as a means to help explain the interconnections between places in the global economy
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Millennium Development Goals
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Eight international development goals that 192 United Nations member states and at least 23 international organizations have agreed to achieve by the year 2015. They include reducing extreme poverty, reducing child mortality rates, fighting disease epidemics such as AIDS, and developing a global partnership for development
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Trafficking
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When a family sends a child or an adult to a labor recruiter in hopes that the labor recruiter will send money, and the family member will earn money to send home
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Structural Adjustment Loans
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Loans granted by international financial institutions such as the World Bank and the International Monetary fund to countries in the periphery and the semi periphery in exchange for certain economic and governmental reforms in that country
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Neoliberalism
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Strategy for economic development that calls for free markets, balanced budgets, privatization, free trade, and minimal government intervention in the economy
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Vectored Diseases
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Disease carried from one host to another by an intermediate host
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Malaria
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Disease caused by mosquitos implanting parasites in the blood
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Export Processing Zones
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Zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment
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Maquiladoras
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Term given to zones in northern Mexico with factories supplying manufactured goods to the U.S. market. The low-wage workers in the primarily foreign-owned factories assemble imported components and/or raw materials and then export finished goods
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Special Economic Zones
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Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment
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North American Free Trade Agreement (NAFTA)
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Agreement signed by the United States, Canada, and Mexico in 1992 to form the largest free trade zone in the world
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Desertification
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Gradual transformation of habitable land into desert
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Island of Development
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Place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure
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Nongovernmental Organizations (NGOs)
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International organizations that operate outside of the formal political arena but that are nevertheless influential in spearheading international initiatives on social, economic, and environmental issues
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Micro-credit Program
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Program that provides small loans to poor people, especially women, to encourage development of small businesses
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Birth Rate (BR)
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Number of births per 1,000 people in a population in a given year
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Death Rate (DR)
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Number of deaths per 1,000 people in a population in a population in a given year
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Primary Activity
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Economic activity concerned with the direct extraction of natural resources from the environment, such as mining, agriculture, and fishing
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Secondary Activity
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Processing of raw materials and their transformation into finished industrial products, manufacturing
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Tertiary Activity
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Economic activity associated with the provision of services, such as transportation, banking, retailing, education, and office-based jobs
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Quaternary Activity
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Service sector industries concerned with the collection, processing, and manipulation of information and capital
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Human Development Index (HDI)
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Indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy statistics
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Gross National Income (GNI) |
Monetary worth of what is produced within a country plus income received from investments outside the country
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Gross Domestic Product (GDP)
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Market value of all final goods and services produced within a country in a given period of time
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Gross National Product (GNP)
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Measure of the total value of the officially recorded goods and services produced by the citizens and corporations of a country in a given year
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Less Developed Country (LDC)
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Country that's at a relatively early stage in the process of economic development
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Per Capita Income (PCI)
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Amount of money earned in one year in a nation by an average person
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Newly-Industrialized Country (NIC)
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Subgroup of developing countries that have experienced rapid industrialization of their economies
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Physical Quality of Life Index (PQLI)
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Composite indicator of development composed from life expectancy, literacy rate, and infant mortality
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Rate of Natural Increase (RNI)
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Annual rate of population growth
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Purchasing Power Parity (PPP)
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Measurement of what the same amount of money buys in different countries
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More Developed Country (MDC)
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Country that has progressed relatively far along a continuum of development
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Literacy Rate (LR)
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Percentage of people that can read and write in a given population
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Life Expectancy (LE)
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Figure indicating how long, on average, a person may be expected to live
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Infant Mortality Rate (IMR)
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Number of babies that die within the first year of their lives in a given population
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