Developing Countries
Chapter 19 Key Terms:
Population Density: Number of people per square mile of land area.
Customs Union: Group fo countries that have agreed to reduce trade barriers.
Primitive Equilibrium: First stage of economic development during which the economy is static.
External Debt: Borrowed money that a country owes to foreign countries and banks.
Capital Flight: Legal or illegal export of a nation's currency and foreign exchange.
Expropriation: Government confiscation of private or foreign-owned goods with out compensation.
Free-trade Area: Group of countries that that agreed to reduce trade barriers among themselves, but lack a common tariff barrier for non members.
Cartel: Group of sellers or producers acting together to raise prices by restricting availability of product.
Crude Birthrate: Number of live births per 1,000 people.
Takeoff: Third stage of economic development during which barriers of primitive equilibrium are overcome.
Population Density: Number of people per square mile of land area.
Customs Union: Group fo countries that have agreed to reduce trade barriers.
Primitive Equilibrium: First stage of economic development during which the economy is static.
External Debt: Borrowed money that a country owes to foreign countries and banks.
Capital Flight: Legal or illegal export of a nation's currency and foreign exchange.
Expropriation: Government confiscation of private or foreign-owned goods with out compensation.
Free-trade Area: Group of countries that that agreed to reduce trade barriers among themselves, but lack a common tariff barrier for non members.
Cartel: Group of sellers or producers acting together to raise prices by restricting availability of product.
Crude Birthrate: Number of live births per 1,000 people.
Takeoff: Third stage of economic development during which barriers of primitive equilibrium are overcome.