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34 Cards in this Set
- Front
- Back
development
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process of improving the material conditions of people through diffusion of knowledge and technology
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more developed country (MDC)
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A country that is more developed in terms of industry/economy and standard of living
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less developed country (LDC)
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a country that is less developed in terms of industry/economy and standard of living
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north-south split
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division of the world between MDCs and LDCs along the 30 degrees latitude line
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human development index (HDI)
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recognizes a country's level of development due to 3 factors:
economic social demographic |
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One of the 9 (2) major regions according to development (Western Hemisphere)
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Anglo-America
-Canada -USA Latin America |
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One of the 9 (2) major regions according to development (Europe)
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Western Europe
Eastern Europe *note: the difference is mainly the political experiences each side has experienced* |
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One of the 9 (4) major cultural regions (Asia)
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East Asia
South Asia Southeast Asia Southwest Asia |
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Area combined with Southwest Asia to form a new region (1)
*also one of the 9 (1) major regions* |
North Africa
-forms Middle East region |
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One of the 2 other important regions
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Japan
-demographic characteristics contrast sharply with other East Asia countries South Pacific -primarily Australia and New Zealand, but is much less populous |
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One of the 3 more developed major cultural regions
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Anglo-America
Western Europe Eastern Europe plus Japan |
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One of the 6 less developed major cultural regions
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Latin America
Southeast Asia Middle East East Asia South Asia Sub-Saharan Africa |
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gross domestic product (GDP)
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value of the total output of goods and services produced in a country in a year
-economic indicator of development |
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primary sector
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jobs that directly extract materials from the Earth through agriculture, sometimes by mining, fishing, and forestry
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secondary sector
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jobs that include manufacturers that process, transform, and assemble raw materials into useful products
also take maufactured goods and fabricate them into ffinished consumer goods |
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tertiary sector
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jobs that involve the provision of goods and services to people in exchange for payment
-retailing -banking -law -education -government |
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productivity
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value of a particular product compared to the amount of labor needed to make it
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value added
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(manufacturing)
gross value of the product - the costs of raw materials and energy |
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3 indicators of a high standard of living
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-cars
-TVs -telephones *accesible to everyone in MDCs and are vital to the economy's health* |
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literacy rate
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% of a country's people who can read and write
-exceeds 95% in MDCs -usually less than 1/3 in LDCs -a social indicator of development |
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Name one of the two fundamental obstacles in trying to encourage rapid development in LDCs
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-adopting policies that successfully promote development
-finding funds to pay for development |
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One of 4 demographic indicators of development
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-life expectancy
-infant mortality rate (IMR) -natural increase rate (NIR) -crude birth rate |
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the first element of Rostow's Development Model
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1) Traditional Society
-a country that hasn't started development yet -high % of people in agriculture -high % of wealth in "nonproductive" activities like military and religion |
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the second element of Rostow's Development Model
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2) Preconditions for takeoff
-developemtn begins when an elite group initiates innovative economic activities -country starts to invest in nnew technology and infrastructure |
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the third element of Rostow's Development Model
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3) the Takeoff
-rapid growth generated in a limited # of economic activities -these achieve technological advances and become productive |
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the fourth element of Rostow's Development Model
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4) the Drive to Maturity
-modern technology diffueses to a wide variety of industries => experience rapid growth -workers become more skilled and specialized |
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the fifth element of Rostow's Development Model
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5) the Age of Mass Consumption
-economy shifts from production of heavy industry (steel, cars, energy) to cconsumer goods (vehicles, refrigerators) |
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The Four Asian Dragons (and why they are named so)
(an international trade alternative) |
South Korea
Taiwan Singapore Hong Kong *no natural resources + low labor costs + concentraion on only a handful of manufactured goods = ability to sell products inexpensively |
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Self-sufficiency approach
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-country spreads investment equally across the economy
-isolating the LDC from the rest of the world (and the larger int'l corporations) to nurse small businesses |
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3 barriers of the self-sufficiency approach
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-high taxes on imported goods
-fixed quotas to limit the quantity of imported goods -requiring licenses to restrict the # of legal importers -also restrics local businesses from exporting |
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Problems with the self-sufficiency alternative
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-inefficiency: gives little incentive to increase production or improve quality
-large bureaucracy (is needed to control the economy) => encourages abuse and corruption |
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Problem 1 with the Internation Trade Alternative
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1) Uneven Resource Distribution
2) Market Stagnation -countries that depend on selling low-cost manufactured goods being hurt by slowing world market for many products 3) Increased Dependence on MDCs -depending solely on $ gained ffrom exporting to MDCs |
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loan
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borrowed money
-used by LDCs to build new infrastructure (hydroexectric dams, water supplies, hotels, roads, etc.) |
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transnational corporations
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a corporation that operates in countries other than where its HQ are
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