Glossary Quiz

cost of living: a measure of how affordable basic goods and services are in comparison to the average incomes of citizens

This also measures how affordable it is to maintain a high standard of living.

developed country: a country with the infrastructure, resources, and economy capable of engaging in a range of industries, including tertiary and quaternary industries (production and services) to generate a high gross national income and offer a high standard of living to its citizens

developing country: a country that has an economy that is primarily resource based and has a relatively low standard of living for its citizens

disposable income: the portion of an individual’s wages that remains after meeting the costs of purchasing basic necessities such as food, clothing, shelter, and health care

This lack of income may be a factor in an individual’s ability to access opportunities such as leisure time and non-essential goods.

economic and financial sustainability: the ability to maintain a strong financial status and/or economy in the future

economic globalization: a dimension of globalization that refers to the expansion of trade globally and the interdependence of the economies of the world due to the development of global trade networks and transportation and communication systems

economic prosperity: the material wealth often viewed as necessary to ensure a high quality of life for an individual or a country

environmental or ecological sustainability: the ability to maintain the qualities that are valued in the environment

first world country: a country with the infrastructure, resources, and economy capable of engaging in a range of industries, including tertiary and quaternary industries (production and services) to generate a high gross national income and offer a high standard of living to its citizens; another name for a developed country

greenhouse gases: gases produced by carbon emissions resulting from both natural and industrial processes

It is the growing quantity of greenhouse gases produced by industry- and energy-consuming citizens that has become an issue. Greenhouse gases can cause a rise in global temperature, which can lead to changes in the global climate.

impoverished: living in poverty and challenged to meet basic needs

industrialized: a term used to describe a developed country or first world country; a country with the infrastructure, resources, and economy capable of engaging in a range of industries, including tertiary and quaternary industries (production and services) to generate a high gross national income and offer a high standard of living to its citizens

institutional or social sustainability: the ability to maintain the social and governmental structures, rules, and practices of a society over time

less- or least developed country (LDC): a country lacking the infrastructure, resources, and economy capable of engaging in a range of industries to promote a strong economy to contribute to an adequate quality of life for its citizens

The economy is often based on a resource industry and lacks the ability to expand to manufacturing and/or service industries.

life expectancy: a measure of the average life span or survival rate of a population

A low life expectancy is often related to a least developed country where the low standard of living contributes to a low rate of survival for citizens of the country.

life satisfaction: an individual’s perspective on his or her level of well-being and happiness

Quality of life is a factor in whether an individual will acknowledge that he or she has a high level of life satisfaction. An individual may have access to the necessities of life but may not be satisfied with his or her quality of life.

low development: a measure of the quality of life based on the rate of gross domestic product, life expectancy, and education

This ranking describes a country that has a low domestic product, low life expectancy, and low literacy rate.

material wealth: the quantity of money and property a person has

In the case of a country, it reflects the value of the goods and services it has and the income available to provide essential services such as health care and education to the citizens of the country.

multinational: a business that expands to become a corporation that conducts business in many countries

non-industrialized: a term used to describe less-developed countries that have not developed beyond resource-based economies

These countries often lack the resources and infrastructure to create their own manufacturing industries.

north: reference to the location of a country north of the equator

poverty: a condition where an individual is lacking in the financial and material possessions necessary for an adequate quality of life

prosperity/prosperous: a condition of being successful or fortunate

quality of life: social, economic, and political conditions that contribute to the satisfaction people have with their lives

The struggle to access food, clothing, and shelter may reflect a low quality of life. A high quality of life may reflect the balance between work and leisure.

second world country: a country that is beginning to move from an agriculturally based economy to an industrialized one; another name for a developing country

south: reference to the location of a country south of the equator

stakeholder: an individual or group that is involved or affected

standard of living: a measure of the quantity and quality of goods and services (such as food, clothing, shelter, health care, education) to which an individual has access

sustain: to maintain a condition with an adequate supply

sustainability: the condition of maintaining the current status into the future

third world country: a country that continues to have economies that are primarily agricultural and have yet to transition to an industrialized economy; another name for less-developed country

United Nations Human Development Index: an indicator of the human development of a country based on a measure of the extent of opportunities for citizens to education, health care, income, employment, life expectancy, and gross domestic product

universal: available to all members of society

viable: a condition of being capable of growing or developing

World Bank: an organization made up of 185 countries that provides financial assistance to developing

Quiz

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