Term
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Definition
| how advanced an economy is, range from more developed countries to less developed countries |
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Term
| Human Development Index (HDI) |
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Definition
| an index that was developed by the United Nations as a tool for ranking countries based on their levels of economic and social development |
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Term
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Definition
| the average number of years an individual in the country is expected to live |
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Term
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Definition
| the number of births in one year per 1000 people |
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Term
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Definition
| the number of deaths in one year per 1000 people |
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Term
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Definition
| the number of infants that die before the age of one per 1000 |
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Term
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Definition
| any statistic that shows how well an economy is performing |
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Term
| Gross Domestic Product (GDP) |
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Definition
| the total value of all the goods and services produced by a nation in one year |
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Term
| Gross Domestic Product per capita (per capita gdp) |
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Definition
| the value of goods and services that are produced in one year by an average person |
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Term
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Definition
| 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. |
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Term
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Definition
| 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. |
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Term
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Definition
| 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. |
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Term
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Definition
| 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 |
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Term
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Definition
| measures the political freedom that people enjoy, the degree of democracy and voting rights, and the level of human rights such as free expression |
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Term
| Primary Economic Activities |
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Definition
| involves the extraction of raw material from natural environment, such as farming, mining, fishing, logging, mining, etc. |
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Term
| Secondary Economic Activities |
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Definition
| the manufacture and production of goods, often using raw materials to produce something new, factories and processing plants |
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Term
| Tertiary Economic Activities |
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Definition
| economic activities that provides a service rather than producing a good, such as stores and restaurants, auto dealerships, banks, etc. |
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Term
| Newly Industrialized Country |
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Definition
| 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 |
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Term
| Quaternary Economic Activities |
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Definition
| economic activities involving information processing and management, computer programmers, etc. the highest level of economic activity |
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