Gr11 Development Terminology

Question 1

Brandt Line

Answer 1

A line that divides the richer north from the poorer south. The line is not parallel to the equator.

Question 2

Commodity

Answer 2

An item of economic value, that countries trade in large quantities.

Question 3

Core & periphery model

Answer 3

A development model that suggests that economic growth is concentrated in a dominant core and a less developed periphery depends on the core. Over time development diffuses from core to periphery eventually developing the periphery.

Question 4

Development

Answer 4

Development involves the efficient use of resources to improve the standard of living and the quality of life of people.

Question 5

Demographic indicators

Answer 5

Statistics about the population.

Question 6

Economic development

Answer 6

The development of a countries wealth.

Question 7

Economic indicators

Answer 7

Indicators that measure the amount of wealth in a society.

Question 8

Environmental Sustainability

Answer 8

Long-term maintenance of ecosystems and their natural functions for future generations.

Question 9

Fair trade

Answer 9

Trade that supports farmers in LEDCs by paying fair prices and encouraging social and environmental development in their communities

Question 10

Free trade

Answer 10

Trade that occurs without any restrictions

Question 11

GDP (Gross domestic product)

Answer 11

Total value of Goods & Services produced by a country in one year (territory based).

Question 12

Globalisation

Answer 12

It is the ever increasing global connectivity, integration and interdependence of countries on each other.

Question 13

GNI (Gross national product)

Answer 13

GDP plus income earned by a country’s citizens/corporations abroad.

Question 14

GDP Per Capita

Answer 14

The total value of all the goods and services produced by a country in a year, divided by the total population of that country.

Question 15

Gini-coefficient

Answer 15

An economic indicator that reflects income distribution in a population.

Question 16

HDI

Answer 16

A tool developed by the United Nations to measure and rank countries’ levels of social and economic development based on certain indicators: Life expectancy, education, and income indices.

Question 17

Indicators of development

Answer 17

Indicators are statistics that allow us to compare development levels of different countries.

Question 18

Industrial Growth

Answer 18

When the secondary economic sector grows and expands. More factories are built and more products are made. Wealth is gained through manufacturing activities.

Question 19

Infant Mortality Rate

Answer 19

Probability of dying between birth and exactly one year of age expressed per 1,000 live births.

Question 20

International trade

Answer 20

International trade is the trade of goods and services across borders.

Question 21

LEDC

Answer 21

Less Economically Developed Country.
A country with low levels of economic development. Indicators of lack of development include high birth, death, and infant mortality rates.

Question 22

Life Expectancy

Answer 22

The age until which a person is expected to live.

Question 23

Macro-scale development

Answer 23

Large scale continental/country based or global development.

Question 24

MEDC

Answer 24

More Economically Developed Countries.
A country with high levels of economic development. Indicators of development include low birth, death, and infant mortality rates

Question 25

Micro-scale development

Answer 25

Small scale community or local level development.

Question 26

Newly Industrialised Countries

Answer 26

A term used by political scientists and economists to describe a country whose level of economic development ranks it somewhere between the developing and first-world classifications. These countries have moved away from an agriculture-based economy and into a more industrialized, urban economy.

Question 27

Quality of life

Answer 27

(QOL) is the general well-being of individuals and societies.

Question 28

Quota

Answer 28

Restrictions on the number of foreign products that can enter a country.

Question 29

Rostow’s model of development

Answer 29

A model of development that suggests that all countries have the potential to develop through five linear stages of growth. Development is only perceived as economic growth.

Question 30

Social development

Answer 30

Development that focuses on ways living conditions can be improved.

Question 31

Social indicators

Answer 31

Indicators that shows people’s quality of life.

Question 32

Standard of Living

Answer 32

The level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area.

Question 33

Subsidies

Answer 33

A country’s government may give financial support to one of its own industries. The government is sharing the production costs of the commodity keeping its prices lower than imported products.

Question 34

Sustainable development

Answer 34

Development that meets current needs without compromising the ability of future generations to meet their own needs

Question 35

Sustainable development model

Answer 35

A model of development that aims to incorporate Economic and Social development without harming the environment.

Question 36

Terms of Trade

Answer 36

The value (price) of a country’s exports relative to that of its imports.

Question 37

Tariff

Answer 37

A type of tax placed on imported goods, resulting in the goods being sold for more than local products. Can generate income for the government.

Question 38

Trade

Answer 38

The exchange of goods, services, capital, labour and information between two parties.

Question 39

Trade barriers

Answer 39

Countries implement trade policies to help control trade and protect local businesses and industries.

Question 40

Trade bloc

Answer 40

A group of countries that have agreed to trade with each other.

Question 41

Transnational/multinational corporation

Answer 41

Large companies operating in countries around the world.

Question 42

Value added goods

Answer 42

Natural resources that have been processed into a semi-finished or finished product.