The Changing Economic World Key Terms

The economy of many HICs where most employment is now in service industries. 

The relative proportion of the workforce employed in different sectors of the economy.

A method of measuring development combining GDP per capita, life expectancy and adult literacy.

Economic and cultural differences between Southern England and Northern England..

Money, goods and services given by the government of one country or a multilateral institution to help another country. 

The difference in standards of living and wellbeing between the world’s richest and poorest countries.

The process which has created a more connected world, with increases in the movements of goods and people worldwide. 

The simple, easily learned and maintained technology serving local needs in LICs. 

The number of deaths in a year per 1000 of the total population. 

The progress of a country in terms of economic growth, the use of technology and human welfare. 

The number of births in a year per 1000 of the total population. 

A company that has operations (factories, offices, research and development, shops) in more than one country.

A measurement of economic activity - calculated by dividing the total national income by the size of the population.

A model showing how populations should change over time (birth rates, death rates, total pop.)

When producers in LICs are given a better price for the goods they produce.

The decline of traditional manufacturing industry due to exhaustion of raw materials and competition from NEEs. 

The average number of years a person might be expected to live. 

Very small loans which are given to people in the LICs to help them start a small business. 

The average number of deaths of infants under 1 year of age, per 1000 live births, per year. 

Purpose built areas of offices and warehouses, often at the edge of a city and on a main road.