Chapter 17: Economic Development

Economic Development
how advanced an economy is, range from more developed countries to less developed countries
Human Development Index (HDI)
an index that was developed by the United Nations as a tool for ranking countries based on their levels of economic and social development
Life Expectancy
the average number of years an individual in the country is expected to live
Birth Rate
the number of births in one year per 1000 people
Death Rate
the number of deaths in one year per 1000 people
Infant Mortality Rate
the number of infants that die before the age of one per 1000
Economic indicator
any statistic that shows how well an economy is performing
Gross Domestic Product (GDP)
the total value of all the goods and services produced by a nation in one year
Gross Domestic Product per capita (per capita gdp)
the value of goods and services that are produced in one year by an average person
More Developed Countries
a nation that has a high GDP per capita, a high literacy rate, and a greater percentage of people attending colleges and universities, a high life expectancy, and a high standard of living, etc.
Less DEveloped Countries
a nation that has a lower GDP per capita, a lower literacy rate, less people attending colleges and universities, lower life expectancy, a low standard of living, etc.
Social Indicators
a gauge or measure of how well a nation provides social services to its citizens. Nations that are wealthier usually have citizens that are healthier, better educated, and more productive than the citizens of a less developed nation.
Literacy Rate
the percentage of people in a society who are able to read and write. Nations with higher literacy rates have more professional people – doctors, engineers, lawyers, etc
Political Indicator
measures the political freedom that people enjoy, the degree of democracy and voting rights, and the level of human rights such as free expression
Primary Economic Activities
involves the extraction of raw material from natural environment, such as farming, mining, fishing, logging, mining, etc.
Secondary Economic Activities
the manufacture and production of goods, often using raw materials to produce something new, factories and processing plants
Tertiary Economic Activities
economic activities that provides a service rather than producing a good, such as stores and restaurants, auto dealerships, banks, etc.
Newly Industrialized Country
a country such as China or Thailand, where large numbers of people are engaged in secondary economic activities, such as manufacturing textiles or automobiles for export
Quaternary Economic Activities
economic activities involving information processing and management, computer programmers, etc. the highest level of economic activity

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