Term
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Definition
| Development- the process of improving the material conditions of people through diffusion of knowledge and technology |
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Term
| Gender empowerment index (GEM) |
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Definition
| Gender empowerment index (GEM) - compares the ability of women and men to participate in economic and political decision making |
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Term
| Gender-related development index (GDI) |
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Definition
| Gender-related development index (GDI) - compares the level of development of women with that of both sexes |
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Term
| Human development index (HDI) |
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Definition
| Human development index (HDI) - created by the UN, recognizes that a country’s level of development is a function of all three of these factors (economic, social, demographic) |
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Term
| Gross domestic product (GDP) |
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Definition
| Gross domestic product (GDP)- the value of the total output of goods and services produced in a country, normally during a year |
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Term
| Less developed country (LDC) |
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Definition
| Less developed country (LDC) - a country that has made some progress and expects to continue |
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Term
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Definition
| Literacy rate- the percentage of a country’s people who can read and write |
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Term
| More developed country (MDC) |
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Definition
| More developed country (MDC) - a country that has progressed further along the development continuum |
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Term
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Definition
| Primary sector- a job sector were workers directly extract materials from Earth through agriculture, and sometimes by mining, fishing, and forestry |
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Term
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Definition
| Productivity- the value of a particular product compared to the amount of labor needed to make it |
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Term
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Definition
| Secondary sector- manufacturers that processes, transforms, and assemble raw materials into useful products |
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Term
| Structural adjustment program |
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Definition
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Term
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Definition
| Tertiary sector-the portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment |
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Term
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Definition
| Value added- the gross value of the product minus the costs of raw materials and energy |
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