Economic Indicators and Development

AP Human Geography Vocab. Term Definition measurement of a country’s wealth that includes the total value of all goods and Gross National Product A services produced by residents of a country, including domestic and foreign production, (GNP) in a year. Gross Domestic Product A measurement of a country’s wealth that includes the total value of all goods and (GDP) services produced within a country in a year. measurement of a country’s wealth that includes the total value of all goods and Gross National Income A services produced within the borders of a country, plus income received from (GNI) investments outside of the country in a year. Per capita GNI The Gross National Income (GNI) of a given country divided by its population. Economic productivity in agriculture, mining, industry, and services that is counted or Formal Economy taxed by government. Trade is through formal channels, often using credit. Portion of the economy that is not taxed or regulated by government. Goods and Informal Economy services are exchanged based on barter or cash systems, and earnings are not reported to government. Growing gap in access to Internet and communication technologies between connected Digital Divide and remote places. Number of people not working age (0-14 and over 65) relative to number of people Dependency Ratio working age (15 to 64). Agenda agreed to by member countries of the United Nations to improve peoples’ lives Sustainable across several human conditions, including education, environment, political liberty, Development Goals poverty, and inequality. Theory that countries follow the same path along stages of development. Developed by Modernization Model economist Walter Rostow. The physical and human geographies creating the place, environment, and space in Context which events occur and people act. Economic and financial policies that give higher income countries and organizations Neocolonialism control over lower income countries. Theories based on the idea that difficult-to-change, large-scale economic arrangements Structuralist Theory shape what is possible for a country. Andre Gunder Frank’s theory that wealthy countries set up exploitative economic Dependency Theory relations whereby lower income countries became dependent on wealthy countries, who in turn benefit economically. When one country abandons their local currency and officially adopts the currency of Dollarization another country. Theory originated by Immanuel Wallerstein and illuminated by his three-tier structure, World Systems Theory proposing that social change in and economic wealth in the periphery is inextricably linked to the core. Division of the world economy into the core, periphery, and semiperiphery according to Three Tier Structure Immanuel Wallerstein’s world-systems theory. Core Places in the world economy where core processes dominate. Periphery Places in the world economy where periphery processes dominate. Places where core and periphery processes are both occurring; places that are Semi-Periphery exploited by the core but in turn exploit the periphery. Steps in the production of a good from its design and raw materials to its production, Commodity Chain marketing, and distribution. A place where goods are transferred from one form of transport to another. For Break of Bulk Point example, in a port, containers are unloaded from ships and put on trains, trucks, or riverboats for inland distribution. A set of requirements to open markets, privatize industries, and allow foreign direct Structural Adjustment investment in developing countries in exchange for loans from international financial Loans institutions. among international financial institutions that policies opening markets in Washington Consensus Agreement lower income countries would lead to economic development. Policies based on the economic theory that government should not intervene in Neoliberalism markets. A form of forced migration in which organized criminal elements move people illegally from one place to another, typically either to work as involuntary laborers or to participate in the commercial sex trade. Foreign-owned factories in Mexico where low-wage workers assemble imported Maquiladora components and raw materials into finished products for export. Spread of desert like conditions to semiarid lands due to overuse or misuse of land and Desertification water resources. Cities in developing regions where foreign investment is concentrated and to which Islands of Development rural migrants are drawn. Non-governmental Privately funded institutions that aid in development and relief work. Organizations (NGO) Practice of giving small loans to individuals, who operate within a community of other Microcredit Programs borrowers, to start businesses and cottage enterprises. Trafficking