The process of social and economic advancement in terms of the quality of human life.
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GDP
The value of all goods and products produced in a country in a single year.
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HDI
A comparitive measure of literacy, education, life expectancy and standard of living.
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NICs
Newly industrialised countries
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RICs
Rapidly/recently industrialised countries
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DEVELOPMENT GAP
The difference in the level of economic development between rich countries and poor countires.
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GLOBALISATION
The growing interconnectedness of the world. In geography it often refers to the process by which businesses or other organisations develop international influence or start operating on an international scale.
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TNCs
Trans-national corporations. A corporation that has production establishments or delivers services in atleast two countries.
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GLOBAL MARKETING
Marketing on a world wide scale, reconciling or taking advantage of global operational differences, similarities and opportunities in order to meet global objectives.
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TARIFF
A tax or duty to be paid on a particular class of imports and exports.
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SERVICE SECTOR
The tertiary sector of the economy. It is one of the three economic sectors and is considered the 'soft' part of the economy where people offer their brains. The production of services rather than end products.
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SINGLE MARKET
An association of countries trading with eachother without restrictions or tarrifs. The European single market came into effect in January 1993.
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GLOBALLY INTEGRATED ENTERPRISE
A company that fashions its strategy, its management and its operations, in pursuit of the integration of production and value delivery worldwide.
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LDC
UN classifies a country as this if: Low income, human resource weakness and economic vulnarabilaty.
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SUSTAINABLE DEVELOPMENT
Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.
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SUSTAINABLE TOURISM
Adapting the traditional approach to tourism. A balance between limits and use to ensure that physical and human environments can be preserved without ruining the initial attraction.
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Other cards in this set
Card 2
Front
The value of all goods and products produced in a country in a single year.
Back
GDP
Card 3
Front
A comparitive measure of literacy, education, life expectancy and standard of living.
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