Development
Agglomeration economies
• The term economies of agglomeration is

used in urban economics to describe the
benefits that fi...
Human Development Index(HDI)
• An indicator of the level of development

for each country constructed by the united
nation...
Primary Sector
• The sector of an economy making direct

use of natural resources
• Sectors that produce or obtain raw
mat...
Quaternary sector
• The portion of an economy that is based

of knowledge applicable to some business
activity that usuall...
Neocolonialism


The major world powers control the
economies of the poorer countries,
even though the poorer countries a...
Productivity
• The value of a particular product

compared to the amount of labor needed
to make it.
Value Added
• Difference between the total sales

revenue of an industry and the total cost of
components, materials, and ...
HDI
• Human Development Index
• Created by the United Nations, and

recognizes that a country’s development
level is a fun...
MDC
• More developed country
• A country that has progressed relatively
far along a continuum of development
Trickle-down Theory
• An economic theory of monetary benefits
directed by the government to big
businesses that will in tu...
Comparative Advantage
• The principle that an area produces the

items for which it has the greatest ratio of
disadvantage...
Tertiary Sector
• The portion of the economy concerned

with transportation, communication, and
utilities, sometimes exten...
SUSTAINABLE
DEVELOPMENT
• The level of development that can be

maintained in a country without depleting
resources to the...
Economic indicator
• Any economic statistic such as

unemployment rate GDP or the inflation
rate
Basic Industries
• Industries that sell their products or

services primarily to consumers outside
the settlement
• Ex. Ag...
Non-Basic Industries
• Industries that sell their products primarily
to consumers in their community; small
businesses tha...
Comparative Advantage
• Concept in economics that a country

should specialize in producing and
exporting only those goods...
Gross National Product
• Total market value of all goods and

services produced by a nation during a
specific period.
• Jo...
LDC
• Less Developed Country classified by per
capita income, literacy rates, T.V.s per
capita, and hospital beds per capi...
Brandt Line
• Line that divides the MDCs and the LDCs
Economic Development
• Sustained, concentrated actions of policy

makers and communities that promote the
standard of livi...
Productivity
• The value of a particular product

compared to the amount of labor needed
to make it.
Market orientation
• Tendency of an economic activity to locate
close to its market; reflection of large and
variable dist...
Raw Material Orientation
• The tendency of an economic activity to
locate near its raw material source.
Regional multiplier
• Economic growth caused by economic

growth.
• EX: The discovery o steel leads to a steel
manufacturi...
Quaternary Sector
• Part of the economy. Consists of

intellectual activities like government,
culture, libraries, and sci...
Primary Sector
• The portion of the economy concerned

with the direct extraction of materials from
Earth’s surface, gener...
Subsistent Economy
An economy which refers simply to the
gathering or amassment of object value,
the increase in wealth, o...
Literacy Rate
• The percentage of a country’s people who
can read and write
• Literacy rate is usually higher in MDC’s
usu...
Import Substitution
A government strategy that replaces
some imports to encourage local
production of those products to
ge...
Secondary Sector
The portion of the economy
concerned with manufacturing
useful products through
processing, transforming,...
Economic Indicators
• A piece of economic data of macroeconomic

scale, that is used by investors to interpret
current or ...
Brandt Line
• A line depicting the North-South divide

between the developed countries and the
less developed countries. C...
Market-Orientation
• The tendency of an economic activity to
locate close to its market; a reflection of
large and variabl...
Neocolonialism
• A disparaging reference to economic and

political policies by which major developed
countries are seen t...
Import Substitution
• The process by which domestic producers
provide goods or services that formerly
were bought from for...
Developing Country
• A country that has made some progress
and expects to continue improving the
material conditions of pe...
Literacy Rate
• The percentage of a country's people who
can read and write.
• Exceeds 98% in MDCs in contrast with
less t...
Less Developed Country
• A country relatively early stage in the
process of economic development.
DEPENDENCY THEORY
• 1. IS A BODY OF SOCIAL SCIENCE

THEORIES PREDICATED ON THE
NOTION THAT RESOURCES FLOW
FROM A “PERIPHAR...
Developing Country
• A more politically correct term used in
place of LDC or third world country.
Rostow’s Modernization Model
• A five stage model of development developed by W.W.
•
•
•
•

Rostow.
Traditional society- N...
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Development powerpoint of vocab

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Development powerpoint of vocab

  1. 1. Development
  2. 2. Agglomeration economies • The term economies of agglomeration is used in urban economics to describe the benefits that firms obtain when locating near each other ('agglomerating'). This concept relates to the idea of economies of scale and network effects.
  3. 3. Human Development Index(HDI) • An indicator of the level of development for each country constructed by the united nations, combining income, literacy, education, and life expectancy.
  4. 4. Primary Sector • The sector of an economy making direct use of natural resources • Sectors that produce or obtain raw materials or natural products • Industries engaged in extraction of natural resources
  5. 5. Quaternary sector • The portion of an economy that is based of knowledge applicable to some business activity that usually involves the provision of services.
  6. 6. Neocolonialism  The major world powers control the economies of the poorer countries, even though the poorer countries are now politically independent states.
  7. 7. Productivity • The value of a particular product compared to the amount of labor needed to make it.
  8. 8. Value Added • Difference between the total sales revenue of an industry and the total cost of components, materials, and services.
  9. 9. HDI • Human Development Index • Created by the United Nations, and recognizes that a country’s development level is a function of all three factors (economic, social, and demographic.)
  10. 10. MDC • More developed country • A country that has progressed relatively far along a continuum of development
  11. 11. Trickle-down Theory • An economic theory of monetary benefits directed by the government to big businesses that will in turn, pass down to and profit, smaller businesses and the general public.
  12. 12. Comparative Advantage • The principle that an area produces the items for which it has the greatest ratio of disadvantage in comparison to other areas, assuming free trade exists.
  13. 13. Tertiary Sector • The portion of the economy concerned with transportation, communication, and utilities, sometimes extended to the provision of all goods and services to people in change for payment. I bet coach Woerner can’t tell what color this is!!! HAHAHA he is bald!!!!!
  14. 14. SUSTAINABLE DEVELOPMENT • The level of development that can be maintained in a country without depleting resources to the extent that future generations will be unable to achieve a comparable level of development.
  15. 15. Economic indicator • Any economic statistic such as unemployment rate GDP or the inflation rate
  16. 16. Basic Industries • Industries that sell their products or services primarily to consumers outside the settlement • Ex. Agriculture, Chemicals, Steel, Metal, Manufacturing, etc.
  17. 17. Non-Basic Industries • Industries that sell their products primarily to consumers in their community; small businesses that sell to local customers • Ex. Diners, service companies, Convenience stores, drug dealers, etc.
  18. 18. Comparative Advantage • Concept in economics that a country should specialize in producing and exporting only those goods and services which it can produce more efficiently than other goods and services
  19. 19. Gross National Product • Total market value of all goods and services produced by a nation during a specific period. • John Mark Friend
  20. 20. LDC • Less Developed Country classified by per capita income, literacy rates, T.V.s per capita, and hospital beds per capita. • Ex: Middle East, South Asia, East Asia, Latin America, Southeast Asia, and Central Asia.
  21. 21. Brandt Line • Line that divides the MDCs and the LDCs
  22. 22. Economic Development • Sustained, concentrated actions of policy makers and communities that promote the standard of living and economic health of a specific area
  23. 23. Productivity • The value of a particular product compared to the amount of labor needed to make it.
  24. 24. Market orientation • Tendency of an economic activity to locate close to its market; reflection of large and variable distribution costs.
  25. 25. Raw Material Orientation • The tendency of an economic activity to locate near its raw material source.
  26. 26. Regional multiplier • Economic growth caused by economic growth. • EX: The discovery o steel leads to a steel manufacturing business.
  27. 27. Quaternary Sector • Part of the economy. Consists of intellectual activities like government, culture, libraries, and scientific research. • - Jordan
  28. 28. Primary Sector • The portion of the economy concerned with the direct extraction of materials from Earth’s surface, generally through agriculture, although sometimes through mining, fishing, and forestry.
  29. 29. Subsistent Economy An economy which refers simply to the gathering or amassment of object value, the increase in wealth, or creation of wealth; focus on a ‘natural’ way of living.
  30. 30. Literacy Rate • The percentage of a country’s people who can read and write • Literacy rate is usually higher in MDC’s usually in 90% • Affects the health, population, life expectancy, infant mortality rate, natural increase rate, and crude birth rate. • All these affect the development
  31. 31. Import Substitution A government strategy that replaces some imports to encourage local production of those products to generate employment.
  32. 32. Secondary Sector The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
  33. 33. Economic Indicators • A piece of economic data of macroeconomic scale, that is used by investors to interpret current or future investments possibilities and judge the overall health of an economy. Economic indicators can potentially be anything the investor chooses, but specific pieces of data released by government and non-profit organizations have become widely followed. • Ex: unemployment, consumer price index, bankruptcies, price of crude oil
  34. 34. Brandt Line • A line depicting the North-South divide between the developed countries and the less developed countries. Created by West Germany Chancellor Willy Brandt in 1980.
  35. 35. Market-Orientation • The tendency of an economic activity to locate close to its market; a reflection of large and variable distribution costs
  36. 36. Neocolonialism • A disparaging reference to economic and political policies by which major developed countries are seen to retain or extend influence over the economies of LDC’s and peoples • Control by a powerful country of its former colonies (or other LDC’s) by economic pressures
  37. 37. Import Substitution • The process by which domestic producers provide goods or services that formerly were bought from foreign producers.
  38. 38. Developing Country • A country that has made some progress and expects to continue improving the material conditions of people, through knowledge and technology
  39. 39. Literacy Rate • The percentage of a country's people who can read and write. • Exceeds 98% in MDCs in contrast with less than 60% in LDCs.
  40. 40. Less Developed Country • A country relatively early stage in the process of economic development.
  41. 41. 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.
  42. 42. Developing Country • A more politically correct term used in place of LDC or third world country.
  43. 43. 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,

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