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VOCABULARY DEVELOPMENT Task: Write the terms below with their definitions in the table below. Then add any key takeaways or examples. ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ Key Issue 1 Vocabulary: Big Three consumer goods Development Five demographic indicators of development GDP per capita globalization Gross Domestic Product (GDP) Gross National Income (GNI) Gross National Product (GNP) Human Development Index (HDI) informal economy Term ○ Less Developed Country (LDC) ○ literacy rate ○ More Developed Country (MDC) ○ primary sector ○ productivity ○ quaternary sector ○ secondary sector ○ tertiary sector ○ Three health/welfare indicators of development ○ Key Issue 2 AND 3 Vocabulary: ○ Brandt Line (aka NorthSouth split) ○ Gender Related Development Index (GDI) ○ Gender Empowerment Measure (GEM) ○ Key Issue 4 Vocabulary: ○ Self Sufficiency Approach ○ import substitution ○ International Trade Approach ○ Four Asian Dragons/Tigers ○ Rostow's Modernization Model of Development (aka Rostow's Ladder to Development) ○ Wallertstein's World Systems Theory Definition Key Issue 1: Why does Development Vary Among Countries? 1. The process of improving the material conditions of people through the diffusion of knowledge and technology. 2. A country that has moved further along the continuum of development. (aka: (relatively) developed country.) 3. A country at the lower (earlier?) end of the development continuum. (aka: "developing" or "emerging" country) ○ Traditional Society (Rostow stage 1) ○ Foreign direct investment (FDI) ○ Structural Adjustment Program ○ Fair Trade ○ U.N. Millennium Development Goals ○ stucturalist theory / neocolonialism / Dependency Theory ○ sustainable development ○ obstacles to development ○ micro-credit programs ○ maquiladoras ○ commodity chain Key Takeaway/Examples/Notes 4. The expansion of economic, political, and cultural processes to the point that they become global in scale and impact. 5. A United Nations indicator of level of development based on income, literacy, education, and life expectancy. 6. The total value of officially recorded goods and services produced by citizens of a country both inside and outside a country's territory. 7. The total value of officially recorded goods and services produced within a country, usually measured over the course of a year. 8. The value of the total value of goods and services produced in a country divided by the population. This shows the average contribution made by individuals to a country's wealth in a year. 9. The value of everything produced in a country plus income received from other countries minus payments to other countries. 10. The uncounted or illegal economy that governments do not tax and keep track of. 11. The portion of an economy concerned with the direct extraction of materials from earth's surface, including agriculture, mining, fishing, and forestry. 12. The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials. 13. The portion of the economy concerned with providing goods and services for payment. This includes retail sales, banking, education, law, etc. 14. Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services. 15. The value of a particular product compared to the amount of labor needed to make it. Often measured by value added (the value of a product minus costs of raw materials and energy that went into it.) 16. Cars, telephones computers are key indicators of development because they are vital to the productivity and efficiency of an economy. 17. The percentage of a nation's population that can read and write. 18. Daily calorie and protein consumption, % of GDP spent on health care, public assistance programs (to protect those unable to work or care for themselves. 19. Life expectancy, Dependency Ratio, Infant Mortality Rate, Natural Increase Rate, and Crude Birth Rate Key Issue 2: Where are MDCs and LDCs located? 20. An imaginary line circling the globe about at 30° N latitude which divide most MDCs (north of the line) from most LDCs (south of the line). Key Issue 3: Where Does Level of Development Vary by Gender? 21. A U.N. indicator of the level of women's development in a country based on the HDI factors as compared to that of both sexes. 22. A U.N. indicator of the measuring the ability of women to participate in economic and political decision making in a country. Key Issue 4: Why Do LDCs Face Obstacles to Development? 23. An approach to development that promotes development in a country by spreading investment throughout all areas of a country and all sectors of an economy and by shielding domestic (inside the country) industries from foreign competition. 24. The government policy, typically part of a Self Sufficiency Approach to development, of encouraging local manufacturers to produce goods to replace imports. 25. An approach to development that promotes development in a country by developing only one or a few local industries in which the country may have a competitive advantage and then selling the resulting products on the world market. Money from these sales can then be used to fund further development. 26. A term used to refer to four Asian countries (South Korea, Singapore, Taiwan, and Hong Kong) who achieved rapid development despite a relative lack of natural resources by concentrating on producing only a few manufactured goods (mostly clothing and electronics). As such they were early adopters of the International Trade Approach. 27. A model of development that maintains that all countries go through the same five stages of development which lead to selfsustaining economic growth and high levels of mass consumption. The five stages are: 1. Traditional Society (subsistence farming (live off land with little or no surplus), low technology), 2. Preconditions for Takeoff (an elite group innovates and diversifies the economy), 3. Takeoff (a few areas of economy receive technical advances and grow rapidly), 4. Drive to Maturity (technology diffuses throughout economy, incomes rise, and 5. Mass Consumption (production shifts from heavy industry (steel, energy) to consumer goods and service industries. 28. A theory created by Immanuel Wallerstein that views the world economy as one interconnected capitalist market with a three tier structure: 1. Core: higher levels of education, higher salaries, higher levels of technology. The core gains power by exploiting the semiperiphery and periphery. Exploited by the core. 2. Periphery: lover levels of education, , lower salaries, less technologies. 3. Semi-periphery: places were both core and periphery processes are taking place simultaneously. The periphery is exploited by the core but exploits the periphery. 29. A society in which the dominant activity is subsistence farming and technology is slow to change. 30. Investment made by a foreign company in the economy of another country. 31. 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. 32. An alternative to international trade that emphasizes small businesses and worker-owned and democratically run cooperatives and requires employers to pay workers fair wages, permit unionization, and comply with minimum environmental and safety standards. 33. A set of eight goals set by the U.N. to reduce the disparity of wealth and development between MDCs and LDCs. They focus on poverty, primary education, gender equality, child mortality, maternal health, HIV/AIDS, environmental sustainability, and aide from MDCs to LDCs. 34. A group of theories that maintain that MDCs continue to control LDCs even though the poorer LDCs have officially gained their independence and that the concentration of wealth in MDCs make it difficult for LDCs to improve their economic situation. 35. A pattern of resource use that aims to meet human needs while preserving the environment so that these needs can be met not only in the present, but also for generations to come. 36. Exploitation by MDCs, malnutrition, natural disasters (without preparedness), desertification, climate change, high population growth, lack of education, foreign debt, corrupt governments, political instability, disease (i.e. AIDS, malaria (150,000 children dead per month!). 37. Programs which offer small loans to poor people, especially women, to encourage the development of small businesses. 38. An example of an Export Processing Zone (EPZ) on Mexico's northern border with the United States. These are special zones within a country which offer favorable tax or trade to foreign companies. 39. A series of links connecting the many places involved in the production and distribution of a product for sale in the global marketplace. Additional Notes: