Terms : Hide Images
| 6155461799 | Brandt Line | Line that defines the North-South divide | 0 | |
| 6155472626 | Agglomeration | Grouping together of many firms of the same industry in order to share resources. | 1 | |
| 6155461802 | comparative advantage | The ability of a country to produce a good at a lower cost than another country can. | 2 | |
| 6155461803 | core-periphery concept | the majority of that growth is enjoyed by a 'core' region of wealthy countries despite being severely outnumbered in population by those in a 'periphery' that are ignored. | 3 | |
| 6155461804 | dependency theory | a model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones | 4 | |
| 6155461805 | developing country | A country that has low industrial production and little modern technology | 5 | |
| 6155461806 | economic indicators | Use various types of data to measure economic development (GNI, GDP, Vehicle Ownership, Smartphone Ownership, Internet connectedness, Ect) | 6 | |
| 6155461807 | economic development | The improvement of living standards by economic growth. | 7 | |
| 6155461808 | GDI | graphics device interface | 8 | |
| 6155461809 | GEMs | Mapping between ICD-9 and ICD-10 codes is called | 9 | |
| 6155461810 | gross national product | The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year. | 10 | |
| 6155461811 | HDI | Human Development Index | 11 | |
| 6155461812 | import substitution | a government policy that uses trade restrictions and subsidies to encourage domestic production of manufactured goods | 12 | |
| 6155461813 | informal sector | the portion of an economy largely outside government control in which employees work without contracts or benefits | 13 | |
| 6155461814 | international division of labor | The process where the assembing procedures for a product are spread out through different parts of the world | 14 | |
| 6155461815 | LDC | Least Developed Country, exhibits the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. | 15 | |
| 6155461816 | literacy rate | percentage of people who can read and write. | 16 | |
| 6155461817 | MDC | Most Developed Country: sovereign state that has a highly developed economy and advanced technological infrastructure relative to other less industrialized nations | 17 | |
| 6155461818 | neocolonialism | Also called economic imperialism, this is the domination of newly independent countries by foreign business interests that causes colonial-style colonies to continue, such a monoculture. | 18 | |
| 6155461819 | primary sector | The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry. | 19 | |
| 6155461820 | productivity | The value of a particular product compared to the amount of labor needed to make it. | 20 | |
| 6155461821 | quaternary sector | Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services. | 21 | |
| 6155461822 | Rostow's "Modernization model" | Model created by W.W. Rostow in the 1950's that gives an idea of where a country is in their stage of development. There are five stages in this model, including: 1. "The traditional society," 2. "The preconditions for takeoff," 3. "The takeoff," 4. "The drive to maturity," 5. "The age of mass consumption" |  | 22 |
| 6155461823 | secondary sector | The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials. | 23 | |
| 6155461824 | semi-periphery | Places where core and periphery processes are both occurring; places that are exploited by the core but in turn exploit the periphery. |  | 24 |
| 6155461825 | subsistence economy | an economic system of relatively simple technology in which people produce most or all of the goods to satisfy their own and their family's needs; little or no exchange occurs outside or the immediate or extended family | 25 | |
| 6155461826 | sustainable development | Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. | 26 | |
| 6155461827 | 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. | 27 | |
| 6155461828 | transnational corporation | A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located. | 28 | |
| 6155461829 | trickle-down effects | An economic theory which states that investing money in companies and giving them tax breaks is the best way to stimulate the economy. | 29 | |
| 6155461830 | uneven development | The increasing gap in economic conditions between core and peripheral regions as a result of the globalization of the economy. | 30 | |
| 6155461831 | value added | the gross value of the product minus the costs of raw materials and energy. | 31 | |
| 6155461832 | World Bank | A specialized agency of the United Nations that makes loans to countries for economic development, trade promotion, and debt consolidation. Its formal name is the International Bank for Reconstruction and Development. | 32 | |
| 6155461833 | World Systems Theory | Theory developed by Immanuel Wallerstein that explains the emergence of a core, periphery, and semi periphery in terms of economic and political connections first established at the beginning of exploration in the late 15th century and maintained through increased economic access up until the present. | 33 |
