7.2
Economic Sectors
Economic Sectors
This secor focuses on extracting natural resourcs directly from the Eart, such as mining, fishing, and agriculture.
What is the primary sector?
Total value of officially recorded good and services by the citixens and corporations within a country's borders in a given year.
Equation: Goods + Services
What is GDP per capita?
It is a score between 0 and 1. The index combines life exectancy, education level, and income to measure a country's overall development.
What is the human development index?
Critics argue this stage based model assumes all countries follow the same linear path, ignoring historical factors like colonialism and global inequality.
What is a major criticism of Rostow's model?
This theory divides the global economy into core, semi-periphery, and periphery regions based on economic roles and power relationships.
What is the World Systems Theory?
This sector involves the processing of raw materials into finished or semi-finished goods, like turning lumber into furniture.
What is the secondary sector?
Total value of goods and services by the citizens nd corporations of a country as well as foreign investments in a given year.
Equation=domestic+interanational goods+services
What is the Gross National Product (GNP)?
It is a score between 0 and 1. It is a combination of social, economic, and political indicators that measure the inequality of a country.
What is the gender inequality index (GII)?
This is the first stage in Rostow's model, characterized by subsistence agriculture and limited technology.
What is traditional Society?
Countries in this category exploit peripheral nations for raw materials while maintaining high levels of industrialization and wealth.
What are Core countries?
The service sector that focuses on moving, selling, and trading products in primary and secondary sectors. Such as retail, marketing, designing, restaurants, and shipping.
What is the tertiary sector?
Most accurate measure of wealth, because it accounts for the impact of trade.
Equation: GDP+(exports-imports)
What is the Gross National Income (GNI)?
It is the calculation of the average number of childen per women.
What is the total fertility rate (TFR)?
The stage where a country begins to develop infrastructure, banking, and education systems to prepare for growth.
What is Preconditions for Takeoff?
This group of countries acts as a buffer between core and periphery, often experiencing both exploitation and industrial growth.
What are Semi-periphery countries?
This is a knowledge based sector, focusng on research and information creation, and transfer. Investment banking, real estate, college professors, education, and software development.
What is the quaternary sector?
Measures the distribution of income within a population.
What is the Gini Coefficient?
It is the number of deaths of infants under one year old in a given year per 1,000 live births. It is low in MDCs and high in LDCs.
What is the infant mortality rate (IMR)?
During this stage, a country diversifies its economy and improves technology across many industries.
What is Drive to Maturity?
These countries are the least developed in world systems theory, providing raw materials and cheap labor to more developed nations while having limited idustrialization and global power.
What what are periphery countries?
This is the highest level of decision making, includes top officials in government and business. Such as congress and CEOs.
What is the quinary sector?
The use of energy varying based on location and infrastructure.
What is the energy consumption?
It is the average number of years a person is expected to live based on mortality rates. It is high in MDCs and low in LDCs.
What is life expectancy?
This stage is characterized by widespread access to consumer goods, high incomes, and a shift to a service based economy.
What is High Mass Consumption?
This line divides the world into a wealthier "Global North" and a poorer "Global South," based on economic development levels.
What is the Brandt Line?