UNIT 7 - CH 19

Question 1

Commodity dependence

Answer 1

An economy that relies on the export of primary commodities for a large share of its export earnings and hence economic growth

Question 2

Core country

Answer 2

Countries that dominate trade, control the most advanced technologies and have high levels of productivity within diversified economies

Question 3

Dependency model

Answer 3

Countries do not exist in isolation but are part of an intertwined world system in which all countries are dependent on each other

Question 4

Equality

Answer 4

The state of being equal, especially in status, rights, and opportunities

Question 5

Equity

Answer 5

The state or quality of being just, fair, or impartial; fair and equal treatment ; something that is fair

Question 6

Formal sector

Answer 6

Salaried or wage based work registered in official statistics

Question 7

Fossil fuels

Answer 7

Coal, oil, natural gas, and other fuels that are ancient remains of plants and animals

Question 8

Gender development index (GDI)

Answer 8

An indicator constructed by the U.N. To measure the gender gap in the level of achievement in terms of income, education, and live expectancy

Question 9

Gender inequality index (GII)

Answer 9

An indicator constructed by the U.N. To measure the extent of each country’s gender inequality in terms on reproductive health, empowerment, and the labor market

Question 10

Gender pay gap

Answer 10

The difference between male and female earnings expressed as a percentage of male earnings

Question 11

Gross domestic product (GDP)

Answer 11

The total value of a states goods and services produced inside of the country

Question 12

Gross national income (GNI)

Answer 12

Measures the total annual income received by residents of a nation

Question 13

Gross national product (GNP)

Answer 13

The total value of all the goods and services produced by a state in a single year

Question 14

Human development

Answer 14

The processes involved in the improvement of peoples rights, freedoms, capabilities, choices, and material conditions

Question 15

Human development index (HDI)

Answer 15

An indicator constructed by the U.N. To measure the level of development for a country through a combination of income, education, and life expectancy

Question 16

Informal sector

Answer 16

Network of business transactions that are not reported and therefore not included in the country’s GDP and official economic projection

Question 17

Labor-market participation (LMP)

Answer 17

Rate that measures an economy’s active labor force, calculated by taking the sum of all employed workers divided by the working age population

Question 18

Microfinance

Answer 18

The lending of small amounts of money at low interest to new businesses in the developing world

Question 19

Microloans

Answer 19

A very small, often short-term loan made to an impoverished entrepreneur, as in an underdeveloped country

Question 20

Per capita

Answer 20

Per person basis; total divided by a population

Question 21

Periphery countries

Answer 21

The least developed and least powerful nations; often exploited by the core countries as sources of raw materials, cheap labor, and markets

Question 22

Renewable energy

Answer 22

A resource that has a theoretically unlimited supply and is not depleted when used by humans

Question 23

Reproductive health

Answer 23

Health of reproductive organs in all persons

Question 24

Rostow’s Stages of Economic Growth Model

Answer 24

A model of economic development that describes a country’s progression which occurs in 5 stages transforming from least-developed to more-developed region

Question 25

Semi-periphery countries

Answer 25

The industrializing, most capitalist countries which are positioned between periphery and core countries

Question 26

Wallerstein’s World Systems Theory

Answer 26

1. The world economy has one market and a global division of labor
2. Although the world has multiple states, almost everything takes place within context of the world economy
3. The world economy has a three-tier structure (peripheral, semi-peripheral, core)

Question 27

Women’s empowerment

Answer 27

Their ability to advocate for their rights and have decision-making power in their public and private lives