APHG - U6 Economics and Development Vocabulary (2024)

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Newly industrialized countries (NICs) like Brazil and Mexico are considered part of the

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Semi-Periphery

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Whose development model consists of stage of development from traditional societies and moving towards modern industrialized economies?

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Rostow

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Economic activities that are taxed and monitored by the government and count towards the GDP and GNP

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Formal Economy

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A well-educated and skilled population, lower NIR, access to health care, a higher GNI per capita, and lower levels of gender inequality are related to

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Core Countries

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Farming, mining, fishing, and forestry are all considered to be

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Primary Economic Activities

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This theory shows that the world is interconnected and that we are all interdependent on each other. It divides us into three tiers of economic prosperity, core, periphery, and semi periphery.

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World Systems theory

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The United Nations created these to help reduce disparities between developed and developing countries

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Sustainable Development Goals

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Which Revolution marks the shift in working with hands to machines for mass production (and profit)?

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Industrial

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Trade Deficit

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when imports exceed exports

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Which economic alliance is this map showing? Options: EU, NAFTA, ASEAN, OPEC

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EU