Chapter 9 Vocabulary (Human Geography)

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Developed Country

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Has progressed further along the developed continuum.

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Developing Country

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Another term for LDC which implies that the country has already made some progress and expects to continue.

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Fair Trade

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Alternative to international trade that emphasizes small businesses and worker owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organizing, and comply with minimum environmental and safety standards.

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Development

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A process of improvement in the material conditions of people through diffusion of knowledge and technology.

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Foreign direct investment (FDI)

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Investment made by a foreign company in the economy of another country.

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Gender Empowerment Measure (GEM)

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Compares the ability of women and men to participate in economic and political decision making.

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Gender-Related Development Index (GDI)

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Compares the level of development of women with that of both sexes.

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Gross Domestic Product (GDP)

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The value of the total output of goods and services produced in a country in a given period of time (Normally 1 year)

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Human development Index (HDI)

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

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Less Developed Country (LDC)

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Also known as a developing country, a country that is at a relatively early stage in the process of economic development.

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Literacy Rate

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

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More Developed Country (MDC)

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Also known as a relatively developed country or a developed country, a country that has progressed relatively for a long a continuum of development.

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Primary Sector

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The portion of the economy concerned with the direct extraction of materials from Earth; surface generally through agricultural, although sometimes by mining, fishing, and forestry.

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Productivity

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

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Relatively Developed Country

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Known as a MDC or a developed country.

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Secondary sector

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The portion of the economy concerned with manufacturing useful products through processing, transforming and assembling raw materials.

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Structure adjustment program

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Economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade, such as raising taxes, reducing government spendings, controlling inflation, selling publicly owned utilities to private corporations, and charging citizens more for services.

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Territory Sector

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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 payments.

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Transitional Corporation

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A company that conducts research, operates factories, and sells products in many countries not just where its headquarters or shareholders are located.

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Value Added

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The gross value of the product minus the costs of raw material and energy.