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Development Vocab part 2
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Development Vocab part 2

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  • 1. Developing Country A country that has made some progress and expects to continue improving the material conditions of people, through knowledge and technology
  • 2. Literacy Rate The percentage of a countrys people who can read and write. Exceeds 98% in MDCs in contrast with less than 60% in LDCs.
  • 3. Less Developed Country A country relatively early stage in the process of economic development.
  • 4. DEPENDENCY THEORY 1. IS A BODY OF SOCIAL SCIENCE THEORIES PREDICATED ON THE NOTION THAT RESOURCES FLOW FROM A “PERIPHARY” OF POOR AND UNDERDEVELOPED STATES TO A “CORE” OF WEALTHY STATES, ENRICHING THE LATTER AT THE EXPENSE OF THE FORMER.
  • 5. Developing Country A more politically correct term used in place of LDC or third world country.
  • 6. Rostow’s Modernization Model A five stage model of development developed by W.W. Rostow. Traditional society- Not yet started development The preconditions for take off- starts to invest in new technologies. The take off- Rapid growth, and areas of the economy start to be productive The drive to maturity- Workers become skilled and specialized,