The portion of the economy concerned with information, populated with highly-skilled, well-trained individuals.Ĭomputer programmers largely belong to this sector.Ī major historic model for economic growth, postulating that it happens in five basic stages of varying length: The value of a particular product compared to the amount of labor needed to make it.Ī computer is far more valuable than a pile of silicon, plastic, and metal, rendering its manufacture very productive. The portion of the economy concerned with the direct extraction of materials from Earth's surface. To some degree, the Commonwealth of Nations countries are being economically pressured to cooperate with the UK. The practice of loaning people in poverty small amounts of money, in order for the destitute people to start their own small business and earn a living.Įight international development goals that all members of the United Nations have agreed to meet by 2015.Ī country that has progressed relatively far along a continuum of development.Ĭontrol by a powerful country of its former colonies (or other less developed countries) by economic pressures. The percentage of a country's adults who can read and write. Indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy. LDCs tend to have smaller GNPs (smaller economies, less local production) than MDCs (bigger economies, more local production). Total value of officially recorded goods and services produced by citizens and corporations. LDCs tend to have smaller GNIs (smaller economies, less worldwide expansion) than MDCs (bigger economies, more worldwide expansion).
AP HUMAN GEO 5 STAGES OF GROWTH PLUS
The country's GDP, plus the income earned from the country's investments in other countries. LDCs tend to have smaller GDPs (smaller economies) than MDCs (bigger economies). The value of the total output of goods and services produced in a country in a given time period, usually one year.
LDCs, such as Libya, tend to score lower on the GEM than MDCs, such as Russia. LDCs, such as Indonesia, tend to score lower on the GDI than MDCs, such as Germany.Ĭompares the ability of women and men to participate in economic and political decision-making. NAFTA guarantees fair trade in North America.Ĭompares the level of development of women with that of both sexes. The increase in the standard of living in a nation's population with sustained growth.Ĭhina is at a lower stage of economic development compared to Italy.Īn 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. However, knowledge and technology is slowly diffusing to Ethiopia, developing it.Ī country that is at a relatively early stage in the process of economic development.Ī piece of economic data, usually of macroeconomic scale, that is used by investors to interpret current or future investment possibilities and judge the overall health of an economy. The USA is a core country, while Northern Sudan is a periphery country.Ī process of improvement in the material conditions of people through diffusion of knowledge and technology.īritain has undergone more development than Ethiopia, as Britain has had far more access to knowledge and technology. Periphery countries usually have less development and are poorer countries. An imaginary line separating the MDCs in the Northern Hemisphere from the LDCs in the Southern Hemisphere.Ĭore countries have high levels of development, a capacity at innovation and a convergence of trade flows.
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