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30 Cards in this Set
- Front
- Back
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development
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the process by which a nation improves the economic, political and social well-being of its people
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developed nation
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nation with a higher average level of material well being
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less developed country
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nation with a low level of material well-being
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per capita gross domestic product (per capita GDP)
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a nations gross domestic product divided by its total population
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industrialization
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the extensive organization of an economy for the purpose of manufacture
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subsistence agriculture
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level of farming in which a person raises only enough food to geed his or her family
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literacy rate
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the proportion of the population over age 15 that can read and write
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life expectancy
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the average expected life span of an individual
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infant mortality rate
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the number of deaths that occur in the first year of life per 1000 live births
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infrastructure
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the services and facilities necessary for an economy to function
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newly industrialized county (NIC)
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less developed country that has shown significant improvement in the measures of development
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population growth rate
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the increase in a countrys population in a given year, expresed as a percentage of the population figure at the start of the year
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natural rate of population invrease
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the difference between the birth rate and the death rate
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arable
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suitable for producing crops
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malnutrition
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inadequate nutrition
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internal financing
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financing derived from the savings of a countrys citizens
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foreign invesment
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investment originating from other countries
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foreign direct investment FDI
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the establishment of an enterprise by a foreigner
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foreign portfolio investment
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the entry of funds into a country when foreigners make purchases in the countrys stock and bond markets
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world bank
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the largest provider of development assistance
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united nations development programs
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united nations program dedicated to elimination of poverty through development
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international monetary fund
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organization formed to stablize international exchange rates and facilitate development
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debt rescheduling
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lengthening the time of debt repayment and forgiving, or dismissing, part of the loan
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stabilzation program
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an agreement between a debtor nation and the IMF in which the nation agrees to revise its economic policy
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privatization
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the sale or transfer of state-owned businesses to individuals
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work ethic
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system of values that gives central importance to work
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glasnost
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a policy of poliical "openness" introduced into the soviet union in the late 1980's
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perestroika
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soviet leader Gorbachev's plan for economic restructuring
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light industry
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the production of small consumer goods
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special economic zones
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designated regions in china where foreign investment is encouraged, businesses can make most of their own investment and production decisions, and foreign companies are allowed to operate
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