Ch. 18 Flashcards
(15 cards)
primitive equilibrium, transition, takeoff, semi development, and highly developed
levels of development
nations with a higher average level of material well-being
developed nations
the process by which a nation improves the economic, political, and social well-being of its people
development
investment originating from other countries
foreign investment
by GDP
how are nations classified
the extensive organization of an economy for the purpose of manufacture
industrialization
the number of deaths that occur in the first year of life per 1,000 live births
infant mortality rate
the services and facilities necessary for an economy to function
infrastructure
organization formed to stabilize international exchange rates and facilitate development
international monetary fund
nations with low levels of material well-being
least developed countries
the average expected life span of an indiviudual
life expectancy
the proportion of the population over age 15 that can read and write
literacy rate
the sale or transfer of state-owned businesses to individuals
privatization
largest provider of development assistance
world bank
system of values that gives central importance to work
work ethic
