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20 Cards in this Set
- Front
- Back
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Commodity chain |
Series of links connecting the many places of production and distribution and resulting in a commodity that is on world market McKinna Copple |
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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 McKinna Copple |
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Desertification |
The gradual transformation of habitable land into desert McKinna Copple |
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Developing |
Relating to societies in which capital needed to industrialize is in short supply McKinna Copple |
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Dollarization |
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 it’s own McKinna Copple |
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Export processing zones |
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 McKinna Copple |
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Formal economy |
The legal economy that is taxed and monitored by a government and is included in a governments gross national product as opposed to an informal economy McKinna Copple |
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Gross domestic product (GDP) |
The market value of all final goods and services produced within a country in a given period of time McKinna Copple |
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Gross national income (GNI) |
The monetary worth of what is produced within a country plus income received from investments outside the country McKinna Copple |
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Gross national product (GNP) |
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 McKinna Copple |
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Human development index (HDI) |
Indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy statistics McKinna Copple |
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Informal economy |
Economic activity that is neither taxed nor monitored by a government, and is not included in that governments gross national product as opposed to a formal economy McKinna Copple |
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Island of development |
Place built up by a government or corporation to attract foreign investment and which had relatively high concentrations of paying jobs and infrastructure McKinna Copple |
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Less developed country (LDC) |
A country that is at a relatively early stage in the process of economic development Ex: Zimbabwe McKinna Copple |
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Literacy rate (LR) |
The percentage of people that can read and write in a given population McKinna Copple |
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Maquiladoras |
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 McKinna Copple |
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Micro-credit program |
Program that provides small loans to poor people, especially women, to encourage development of small businesses McKinna Copple |
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Millennium development goals |
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 McKinna Copple |
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Modernization model |
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 McKinna Copple |
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More developed country (MDC) |
A country that has progressed relatively far along a continuum of development McKinna Copple |
