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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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The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry; typical of LDCs
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Development Ch. 9
A review of the vocabulary terms of chapter 9.
| Question | Answer |
|---|---|
| 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 | Fair Trade |
| The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry; typical of LDCs | Primary Sector |
| Compares the capability of women and men to participate in economic and political decision making | Gender Equality Measure (GEM) |
| The gross value of the product minus the costs of raw materials and energy | Value Added |
| A country that has professed relatively far along a continuum of development; mostly found above the equator with the exception of Oceania | More Developed Country (MDC) |
| Compares the level of development of women with that of both sexes; based off of social (income and literacy) and demographic (life expectancy) characteristics of each gender | Gender-Related Development Index |
| 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; ie. doctors, realtors, bankers | Tertiary Sector |
| A process of improvement in the material conditions of people through diffusion of knowledge and technology | Development |
| The value of the total output of goods and services produced in a country in a given time period (normally 1 year) | Gross Domestic Product (GDP) |
| The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials | Secondary Sector |
| Economic policies imposed on LDCs by international agencies to create conditions encouraging international trade, without regard for the LDC; ie. McDonald's or Wal-Mart buying rights to the Pyramids of Giza and exploiting the people to repay national debt | Structural Adjustment Program |
| Indicator of level of development fro each country, constructed by the United Nations, combining income, literacy, education, and life expectancy | Human Development Index (HDI) |
| The percentage of a country's people who can read and write | Literacy Rate |
| Eight international development goals that all members of the United Nations have agreed to achieve by 2015 | Millennium Development Goals |
| Investment made by a foreign company in the economy of another country | Foreign Direct Investment (FDI) |
| A country that is at a relatively early stage in the process of economic development; most regions under the equator, with the exception of Oceania | Less Developed Country (LDC) |
| A company that conducts research, operates factories, and sells products in may countries in order to maximize profit | Transnational Corporation |
| The value of a particular product compared to the amount of labor needed to make it; concerning the price of labor from either machinery or humans/animals | Productivity |
Created by:
SydneyR
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