Process of transformation of local or regional things or places into global ones. World is characterised by closer, integrated ties and connections. economic changes are accompanied by cultural, political and environmental changes.
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IMF
The international monetary fund. 187 countries- global cooperation of financial stability, trade, employment, sustainability and reduced poverty.
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natural change
birth rate - death rate. Natural increase or decrease.
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migrational change
immigrants- emigrants. net migration loss or gain
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WTO
organisation to supervise and liberalise international trade
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GDP
financial value of goods and services. Dived by population give- per capita figure to make comparisons
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development gap
difference in levels of economic and social well being
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HDI
UN measure of economic and social development. Life ex and adult literacy
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Petrodollars
money derived from selling oil
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opportunity cost
value of a product forgone
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comparative advantage
smaller opportunity cost
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FCC
former communist countries
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RIC
recently industrialised countries
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OECD
organisation Economic cooperation and development
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NIC
newly industrialised countries
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LEDC
less economically developed
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OPEC
organisation of petroleum exporting countries
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GNP
gross national product
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network
shows how different places are linked
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node
point on a network map
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global hub
node that is well connected
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flows
money, people, services and goods
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baby boom
increase in the birth rate
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secularisation
decline in religious beliefs. More tolerant of contraception and abortion.
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consumerism
way of life based around consumption, shopping and spending money is important.
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ageing population
more of the population are either at or approaching retirement age
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dependency ratio
proportion of a population that is economically non-productive with the proportion which generates wealth.
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mega cities
over 10 million people. global significance.
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purchasing power parity
compares differences in living standards between nations
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tiger economies
under go rapid economic growth and an increase in the standard of living and development
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de-industrialisation
a social and economic change by the removal and reduction of industry, especially heavy industry.
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Other cards in this set
Card 2
Front
The international monetary fund. 187 countries- global cooperation of financial stability, trade, employment, sustainability and reduced poverty.
Back
IMF
Card 3
Front
birth rate - death rate. Natural increase or decrease.
Back
Card 4
Front
immigrants- emigrants. net migration loss or gain
Back
Card 5
Front
organisation to supervise and liberalise international trade
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