Changing Economic World
Gross National Income (GNI) - value of goods and services produced by a country including income from overseas in a year.
Gross Domestic Product (GDP) - value of goods and services produced by a country in a year (does not included income from overseas).
Birth rate - number of live babies born per thousand.
Death rate - number of deaths per thousand.
Infant mortality rate - number of babies that die under 1 year per thousand.
Life expectancy - average age a person can expect to live to.
Literacy rate - percentage of adults who can read and write.
Education level - average number of years of schooling.
Human Development Index (HDI) - calculated using life expectancy, literacy rate, education level and income per head.
More Economically Developed Countries (MEDCs) - generally found in the north eg. USA, European countries, Australia & New Zealand.
Less Economically Developed Countries (LEDCs) - generally found in the south eg. India, China, Mexico, Brazil & all the African countries.
High Income Countries (HICs) - wealthiest countries in the world.
Low Income Countries ( LICs) - poorest countries in the world.
Newly Emerging Economies (NEEs) - rapidly getting richer countries.
Demographic Transition Model (DTM) - shows how changing birth rates and death rates affect population growth.
Natural increase - more people are being born than are dying, population is growing.
Natural decrease - more people are dying than being born, population is decreasing.
Debt relief - some or all of a country's debt is cancelled, or interest rates are lowered.
Foreign-direct investment (FDI) - people or companies in one country buy property or infrastructure in another.
Fair Trade - farmers get a fair price for goods produced in LICs.
Intermediate Technology - tools, machines and systems that improve quality of life that are easy to use and cheap.
Microfinance Loans - small loans for people in LICs.
Also see Urban Issues & Challenges