Changing economic world glossary

• What is the birth rate?

  The number of births per 1000 people
• What is the death rate?

  The number of deaths per 1000 people
• What does de-industrialisation refer to?

  Decline of traditional manufacturing industries
• What does the Demographic Transition Model illustrate?

  Changes in populations over time
• What is the development gap?

  Difference in living standards between countries
• How is development defined?

  Progress in economic growth and human welfare
• What is Fairtrade?

  Better prices for producers in LICs
• What does globalisation refer to?

  Increased connections in trade and migration
• What is Gross National Income (GNI)?

  Measurement of economic activity per population
• What does the Human Development Index (HDI) combine?

  GDP per capita, life expectancy, adult literacy
• What is industrial structure?

  Proportion of workforce in different economic sectors
• What is infant mortality?

  Deaths of infants under 1 year per 1000 live births
• What are information technologies?

  Technologies that speed up communication
• What is intermediate technology?

  Simple technology for local economic activities
• What is international aid?

  Support from one country to another for improvement
• What is life expectancy?

  Average years a person is expected to live
• What is the literacy rate?

  Percentage of people with basic reading skills
• What are microfinance loans?

  Very small loans for starting small businesses
• What does the North-South divide refer to in the UK?

  Economic and cultural differences between regions
• What is a post-industrial economy?

  Economy focused on service industries
• What are science and business parks?

  Areas for offices and high-tech industries
• What are service industries?

  Economic activities providing various services
• What is trade?

  Buying and selling goods between countries
• What is a Transnational Corporation (TNC)?

  A company operating in multiple countries