Chapter 10 Cram Cards

Front 1

Commodity Chain

Back 1

Series of links connecting the many places of production and distribution and resulting in a commodity that is on world market.

Front 2

Developing

Back 2

Relating to societies in which capital needed to industrialize is in short supply.

Front 3

Gross National Product (GNP)

Back 3

A 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.

Front 4

Gross Domestic Product (GDP)

Back 4

The market value of all final goods and services produced within a country in a given period of time.

Front 5

Gross National Income (GNI)

Back 5

The monetary worth of what is produced within a country plus income received from investments outside the country.

Front 6

Per Capita GNI

Back 6

The Gross National Product of a given country divided by its population.

Front 7

Formal Economy

Back 7

The legal economy that is taxed and monitored by a government and is included in a government's Gross National Product; as opposed to an informal economy.

Front 8

Informal Economy

Back 8

Economic activity that is neither taxed nor monitored by a government; and is not included in that government's Gross National Product; as opposed to a formal economy.

Front 9

Modernization Model

Back 9

A 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.

Front 10

Context

Back 10

Circumstances of a situation; environment.

Front 11

Neo-colonialism

Back 11

A 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.

Front 12

Structuralist Theory

Back 12

A 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.

Front 13

Dependency Theory

Back 13

A model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones.

Front 14

Dollarization

Back 14

When a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency as its own.

Front 15

World-systems Theory

Back 15

Wallersteins 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.

Front 16

Three-tier Structure

Back 16

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.

Front 17

Millennium Development Goals

Back 17

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.

Front 18

Trafficking

Back 18

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.

Front 19

Structural Adjustment Loans

Back 19

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(e.g. privatization of certain government entities and opening the country to foreign trade and investment).

Front 20

Neoliberalism

Back 20

A strategy for economic development that calls for free markets, balanced budgets, privatization, free trade, and minimal government intervention in the economy.

Front 21

Vectored Diseases

Back 21

A disease carried from one host to another by an intermediate host.

Front 22

Malaria

Back 22

A disease caused by mosquitoes implanting parasites in the blood.

Front 23

Export Processing Zones

Back 23

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.

Front 24

Maquiladoras

Back 24

The 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.

Front 25

Special Economic Zones

Back 25

Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment.

Front 26

North American Free Trade Agreement (NAFTA)

Back 26

Agreement signed by the United States, Canada, and Mexico in 1992 to form the largest free trade zone in the world.

Front 27

Desertification

Back 27

The gradual transformation of habitable land into desert.

Front 28

Island of Development

Back 28

Place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure.

Front 29

Nongovernmental Organizations (NGOs)

Back 29

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.

Front 30

Micro-credit Program

Back 30

Program that provides small loans to poor people, especially women, to encourage development of small businesses.

Front 31

More Developed Country (MDC)

Back 31

More developed country (MDC) A country that has progressed relatively far along a continuum of development.

Front 32

Less Developed Country (LDC)

Back 32

Less developed country (LDC) A country that is at a relatively early stage in the process of economic development.

Front 33

Literacy Rate (LR)

Back 33

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

Front 34

Life Expectancy (LE)

Back 34

A figure indicating how long, on average, a person may be expected to live.

Front 35

Primary Activity

Back 35

Economic activity concerned with the direct extraction of natural resources from the environment, such as mining, agriculture, fishing, etc.

Front 36

Secondary Activity

Back 36

Economic activity involving the processing of raw materials and their transformation into finished industrial products, manufacturing

Front 37

Tertiary Activity

Back 37

Economic activity associated with the provision of services, such as transportation, banking, retailing, education, and office-based jobs

Front 38

Quaternary Activity

Back 38

Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, and insurance.

Front 39

Infant Mortality Rate (IMR)

Back 39

A figure that describes the number of babies that die within the first year of their lives in a given population.

Front 40

Rate of Natural Increase (RNI)

Back 40

The annual rate of population growth

Front 41

Per Capita Income (PCI)

Back 41

amount of money earned in one year in that nation by an average person

Front 42

Physical Quality of Life Index (PQLI)

Back 42

A composite indicator of development composed from life expectancy, literacy rate, and infant mortality.

Front 43

Newly-Industrialized Country (NIC)

Back 43

A subgroup of developing countries that have experienced rapid industrialization of their economies. Taiwan, India, Argentina, Mexico, Brazil are examples.

Front 44

Human Development Index (HDI)

Back 44

Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy

Front 45

Purchasing Power Parity

Back 45

Measurement of what the same amount of money buys in different countries

Front 46

Birth Rate (Crude Birth Rate)

Back 46

number of live births per 1,000 people in a population a given year.

Front 47

Death Rate (Crude Death Rate)

Back 47

number of deaths/ 1000 people in a population in a given year