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34 Cards in this Set

  • Front
  • Back
process of improving the material conditions of people through diffusion of knowledge and technology
more developed country (MDC)
A country that is more developed in terms of industry/economy and standard of living
less developed country (LDC)
a country that is less developed in terms of industry/economy and standard of living
north-south split
division of the world between MDCs and LDCs along the 30 degrees latitude line
human development index (HDI)
recognizes a country's level of development due to 3 factors:
One of the 9 (2) major regions according to development (Western Hemisphere)
Latin America
One of the 9 (2) major regions according to development (Europe)
Western Europe
Eastern Europe

*note: the difference is mainly the political experiences each side has experienced*
One of the 9 (4) major cultural regions (Asia)
East Asia
South Asia
Southeast Asia
Southwest Asia
Area combined with Southwest Asia to form a new region (1)

*also one of the 9 (1) major regions*
North Africa
-forms Middle East region
One of the 2 other important regions
-demographic characteristics contrast sharply with other East Asia countries
South Pacific
-primarily Australia and New Zealand, but is much less populous
One of the 3 more developed major cultural regions
Western Europe
Eastern Europe
plus Japan
One of the 6 less developed major cultural regions
Latin America
Southeast Asia
Middle East
East Asia
South Asia
Sub-Saharan Africa
gross domestic product (GDP)
value of the total output of goods and services produced in a country in a year
-economic indicator of development
primary sector
jobs that directly extract materials from the Earth through agriculture, sometimes by mining, fishing, and forestry
secondary sector
jobs that include manufacturers that process, transform, and assemble raw materials into useful products

also take maufactured goods and fabricate them into ffinished consumer goods
tertiary sector
jobs that involve the provision of goods and services to people in exchange for payment
value of a particular product compared to the amount of labor needed to make it
value added
gross value of the product - the costs of raw materials and energy
3 indicators of a high standard of living
*accesible to everyone in MDCs and are vital to the economy's health*
literacy rate
% of a country's people who can read and write
-exceeds 95% in MDCs
-usually less than 1/3 in LDCs
-a social indicator of development
Name one of the two fundamental obstacles in trying to encourage rapid development in LDCs
-adopting policies that successfully promote development
-finding funds to pay for development
One of 4 demographic indicators of development
-life expectancy
-infant mortality rate (IMR)
-natural increase rate (NIR)
-crude birth rate
the first element of Rostow's Development Model
1) Traditional Society
-a country that hasn't started development yet
-high % of people in agriculture
-high % of wealth in "nonproductive" activities like military and religion
the second element of Rostow's Development Model
2) Preconditions for takeoff
-developemtn begins when an elite group initiates innovative economic activities
-country starts to invest in nnew technology and infrastructure
the third element of Rostow's Development Model
3) the Takeoff
-rapid growth generated in a limited # of economic activities
-these achieve technological advances and become productive
the fourth element of Rostow's Development Model
4) the Drive to Maturity
-modern technology diffueses to a wide variety of industries => experience rapid growth
-workers become more skilled and specialized
the fifth element of Rostow's Development Model
5) the Age of Mass Consumption
-economy shifts from production of heavy industry (steel, cars, energy) to cconsumer goods (vehicles, refrigerators)
The Four Asian Dragons (and why they are named so)
(an international trade alternative)
South Korea
Hong Kong

*no natural resources + low labor costs + concentraion on only a handful of manufactured goods = ability to sell products inexpensively
Self-sufficiency approach
-country spreads investment equally across the economy
-isolating the LDC from the rest of the world (and the larger int'l corporations) to nurse small businesses
3 barriers of the self-sufficiency approach
-high taxes on imported goods
-fixed quotas to limit the quantity of imported goods
-requiring licenses to restrict the # of legal importers
-also restrics local businesses from exporting
Problems with the self-sufficiency alternative
-inefficiency: gives little incentive to increase production or improve quality
-large bureaucracy
(is needed to control the economy) => encourages abuse and corruption
Problem 1 with the Internation Trade Alternative
1) Uneven Resource Distribution
2) Market Stagnation
-countries that depend on selling low-cost manufactured goods being hurt by slowing world market for many products
3) Increased Dependence on MDCs
-depending solely on $ gained ffrom exporting to MDCs
borrowed money
-used by LDCs to build new infrastructure (hydroexectric dams, water supplies, hotels, roads, etc.)
transnational corporations
a corporation that operates in countries other than where its HQ are