Development - The use of resources and technology to bring about change., Development Indicators - Are used to measure the level of development with regard to a countries economic, social and institutional growth., Brandt Line - The line dividing the world into the developed and developing world, Industrialised - The country is involved in manufacturing and processing of raw materials in factories., LEDC - Less Economically Developed Country, MEDC - More Economically Developed Country, Infant Mortality - The number of children who die because of childhood related and other diseases, Life expectancy - The average number of years a person can expect to live, Primary Activities - The extraction of raw materials from the earth’s surface., Secondary Activities - Involves the manufacturing and processing of goods obtained in the primary activities., Tertiary Activities - Provision of services., Quaternary Activities - Involves research and technology, Economy - The system of production and distribution in a society, Trade - The exchange of goods, services, capital, labour and information between two parties., International trade - The exchange of goods, services, capital, labour and information between countries, Balance of Trade - The relationship between the value of a country’s exports & its imports, Market - The place where goods and services are bought and sold., Commodities - The items (goods and services) that countries trade. Anything sold in large quantities., Free Trade - Trade that occurs without any restrictions., Tariffs - A type of tax placed on imported goods, which makes these goods more expensive than the local product., Customs - Taxes paid on importing and/or exporting goods, Quota - A limit to the amount of imported goods that may enter a country during a fixed period of time, Subsidy - A form of financial assistance paid by government to an industry or economic sector., Fair Trade - Trade that supports farmers in developing countries by paying fair prices and encouraging social & environmental development in their communities. , Sustainable Development - Any developments that will in the long term sustain themselves and not deplete the natural resources of the area., GDP per Capita - The gross domestic product divided by number of people in a country, GNP - Total value of all goods and services produced by a country in one year including foreign earnings., GDP - Shows the total value of all goods and services produced by a country in one year., HDI - Human Development Index, Gross National Income (GNI) - The amount of money the average person in a country can expect to have. (Low income and,

Development Terminology

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