Basics
Sectors
Development
Organizations
Theories
100
The total value of goods and services produced within a country during a given year
Gross Domestic Product (GDP)
100
Toy manufacturing, oil refining, assembly lines, etc.
Secondary
100
Trade in which certified, equitable prices are paid to producers in less developed countries (So workers are not taken advantage of)
Fair Trade
100
The organization that acts as a neutral, international peacekeeping body. They are responsible for creating and implementing the SDGs
The United Nations
100
Who theorized that the world's economies are linked through a complex system of inter-dependency, known as World Systems Theory
Wallerstein
200
The total value of goods and services produced within and outside of a country during a given year
Gross National Product (GNP)
200
Farming, mining, oil drilling etc.
Primary
200
A farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits.
Cooperative
200
The organization that oversees economic matters and provides loans to countries that will need to be paid back at some point; Overseas global financial systems
The International Monetary Fund (IMF)
200
He theorized that all countries would develop through the same 5 stage process over time, like the U.S and European countries.
Rostow
300
Growth of manufacturing jobs and an increase in agricultural productivity generally leads to what migration pattern in developing countries?
Rural to Urban Migration
300
Scientist, Geographer, Development Research Analyst etc.
Quaternary
300
International trade left to its natural course without tariffs, quotas, or other restrictions. Open markets. (NAFTA, Mercosur, the EU etc.)
Free Trade
300
This organization oversees trade and trade agreements between countries
World Trade Organization
300
China, South Africa, India and Russia were all considered ___________ countries according to World Systems Theory
Semi-Periphery
400
the value of a particular product compared to the amount of labor needed to make it; It can be measured by the value added per worker, which in manufacturing is the gross value of the product minus the costs of raw materials and energy.
Productivity
400
Waiter, Accountant, Lawyer, Teacher, Doctor, Janitor etc.
Tertiary
400
A statistic composite index of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers, overseen by the U.N
Human Development Index (HDI)
400
The bank credited with the first microfinance program, headquartered in Bangladesh.
Grameen Bank
400
List the economic sectors MOST likely to apply to economies of Periphery, Semi-periphery and Core countries
Periphery: Primary
Semi-Periphery: Secondary
Core: Tertiary
500
This term refers to when the value of money is equalized for the effect of being able to determine how much value money has when buying a product in different countries
Purchasing Power Parity (PPP)
500
President, Prime Minister, CEO, etc.
Quinary
500
The Brandt Line
500
The organization that works to address economic issues specifically in less developed countries and concerning poverty around the world by providing loans and financial aid
The World Bank
500
List the 5 Stages of Rostow's Model of Economic Growth
1- Traditional
2- Transitional (Pre-conditions to Takeoff)
3- Takeoff
4- Drive to Maturity
5- High Mass Consumption