Question: brandt line

Answer: divides the more developed north from the less developed south

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Question: BRICS/NICs

Answer: A group of high developing countries characterized by uneven development and high economic growth.

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Question: comparative advantage

Answer: the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

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Question: Core-Periphery Concept

Answer: A model of the spatial structure of development in which underdeveloped countries are defined by their dependence on a developed core region.

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Question: dependency theory

Answer: is the notion that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former

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Question: developing country

Answer: any of the world's poor, or "have-not," nations

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Question: economic indicators

Answer: measure economic performance

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Question: economic development

Answer: The improvement of living standards by economic growth.

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Question: GDI/GEM

Answer: Gender-Related Development Index:Compares the level of development of women with that of both sexes.
Gender Empowerment Index (GEM):Compares the ability of women and men to participate in economic and political decision making.

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Question: gross national product

Answer: The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year.

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Question: human development index(HDI)

Answer: Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy

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Question: import substitution

Answer: government policy of encouraging local manufacturers to produce goods that would replace imports

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Question: Informal Sector

Answer: Economic activity that is not monitored by the government

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Question: International Division of Labor

Answer: Transfer of some types of jobs, especially those requiring low-paid, less-skilled workers, from more developed to less developed countries.

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Question: LDC

Answer: less developed country or nation with a low level of material well being

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Question: literacy rate

Answer: the percentage of people who can read and write

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Question: MDC

Answer: More developed country

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Question: neo-colonialism

Answer: control by a powerful country of its former colonies (or other less developed countries) by economic pressures

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Question: primary sector

Answer: 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. User-contributed

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Question: productivity

Answer: (economics) the ratio of the quantity and quality of units produced to the labor per unit of time

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Question: quaternary sector

Answer: Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services.

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Question: regional multiplier

Answer: The stimulation of economic growth by growth itself. As secondary industries develop they create a demand for raw materials and goods. Thus, machinery is made from steel and this stimulates steel manufacturing while the development of the steel industry requires more machinery. As manufacturing industry prospers, more jobs arise in service industries.

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Question: Rostow's "Modernization Model"

Answer: A model of economic development that describes a country's progression which occurs in five stages transforming them from least-developed to most-developed countries.

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Question: secondary sector

Answer: The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.

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Question: Semi-periphery

Answer: Those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China

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Question: Sustainable Development

Answer: Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

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Question: subsistence economy

Answer: a type of economy in which human groups live off the land with little or no surplus

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Question: tertiary sector

Answer: 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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Question: Transnational Sector

Answer: 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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Question: trickle down effects

Answer: incresed wealth for upper class means benifit for the lower class

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Question: Uneven Developement

Answer: Development of the core regions at the expense of those on the periphery

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Question: value added

Answer: the gross value of the product minus the costs of raw materials and energy.

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Question: World Bank

Answer: Has two branches that loan out money for devalopment projects

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Question: World Systems Theory

Answer: Said that world countries are linked but the core dominates the world economy at the expense of the periphery

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