AP Human Geography Economic Development Vocab – Flashcards
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core-periphery model of development
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most of the countries that have achieved relatively high levels of development are located above 30 degree north latitude
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dependency theory
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LDCs tend to have higher dependency ratio, the ratio of the number of people under 15 and over 64 to the number in a labor force
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EID- economic
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gross domestic product, types of jobs; economic indicators of development
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EID- social
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education; literacy rate; health and welfare; economic indicators of development
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EID- demographic
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life expectancy; infant mortality rate, natural increase rate; crude birth rate; economic indicators of development
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Exclusive Economic Zone
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exclusive economic rights from shore out to 200-nautical-mile limit. Within 200 nautical miles of its shores, a state controls all aspects of natural resource exploration and extraction
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Fair Trade Producer Standards
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consumers pay higher prices for fair trade products than for grocery store brands, but the prices are comparable to those charged for gourmet brands
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Fair Trade Worker Standards
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requires employers to pay workers fair wages, permit union organizing, and comply with minimum environmental and safety standards
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Foreign Direct Investments
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is money from international private investors or investment firms in other countries who are looking to earn a profit
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Four Asian Tigers
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is a term used to describe the industrial economies of Asia that have been aggressive in terms of economic growth rates and their ability to compete for consumers
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Free Markets
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this is a market economy based on supply and demand with little or no government control
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Grameen Bank of South Asia
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professor Yunus of Bangladesh launched an action research project to providing credit and banking service to the rural poor of Bangladesh
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International Monetary Fund
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provides loans to countries experiencing balance-of-payment problems that threaten expansion of international trade reserves, stabilize currency exchange rates and pay for imports without having to impose harsh trade restriction that could hamper the growth of world trade
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North Atlantic Free Trade Association
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trade agreement between USA, Canada and Mexico to ensure open trade between all three countries
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newly industrialized countries
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third world states that have economies that have made a distinct shift away from agriculture and towards manufacturing as the focus of economic development and production
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Quaternary sector
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types of jobs that includes wholesaling, finance, banking, insurance, real estate, advertising and marketing (business services)
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Quinary sector
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includes retailing, tourism, entertainment, and communications, government or semi-public services such as health, education and utilities
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Rostow's International Trade Model
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to promote development; focusing on one aspect and using it to their advantage
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secondary Sector
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includes the processing of raw materials drawn from the primary sector. These activities and jobs also include the fabrication of components and the assembly of finished goods.
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subsistence economy
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this approach restricts local businesses from exporting to other countries
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self-sufficiency model of development
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to promote development; everything comes from within the country
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sustainable development
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products drawn from living resources like fisheries and forestry are renewable. This ability to rely on a resource depends on the sustainable use of the resource
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special economic zones
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where governments allow a special zone or section of their country to have more economic freedom than the rest of the country
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tertiary 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 payment
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world bank
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newly industrialized countries seek loans from here
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world trade organization
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deals with the global rules of trade between 157 states
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gross natural income
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goods, services, exports and imports in one year
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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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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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gender empowerment measure
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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
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compares the level of development of women with that of both sexes
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gross domestic product
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the value of the total output of goods and services produced in a country in a given time period
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human development index
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indicator of level of development for each country, constructed by the United Nations, combing income, literacy, education and life expectancy
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less developed country
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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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Millennium development goals
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eight international development goals that all members of the United Nations have agreed to achieve by 2015
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more developed country
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a county that has progressed relatively far along 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 the Earth's surface
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productivity
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the value of a particular product compared to the amount of labor needed to make it
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structural 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 spending, controlling inflation, selling publicly owned utilities to private corporations and charging citizens more for services
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transnational 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
