2. Economics Unit Vocabulary – 2. Economics Unit Vocabulary – Use the book or Use the book or any online source that gives a good any online source that gives a good geographic geographic definition.definition.

1.1. Import (opposite of export)Import (opposite of export)

2.2. Human Development IndexHuman Development Index

3.3. Free Trade AgreementFree Trade Agreement

4.4. Life ExpectancyLife Expectancy

5.5. Literacy RateLiteracy Rate

6.6. ArableArable

7.7. Communism/Command p. Communism/Command p. 8383

8.8. Transportation Hub/Break Transportation Hub/Break of Bulk center p. 88of Bulk center p. 88

9.9. Economic System p.91Economic System p.91

10.10. Socialism (mixed eco) 91Socialism (mixed eco) 91

11.11. Primary Activity p. 92Primary Activity p. 92

12.12. Secondary Activity p. 92Secondary Activity p. 92

13.13. Tertiary Activity p. 92Tertiary Activity p. 92

14.14. Quaternary Activity p.92Quaternary Activity p.92

15.15. Commercial Activity 92 Commercial Activity 92

16.16. Cottage Industry 74, 92 Cottage Industry 74, 92

17.17. Per capita income p. 94Per capita income p. 94

18.18. Infrastructure p. 94Infrastructure p. 94

19.19. GDP GDP (Gross Domestic Product)(Gross Domestic Product) p. 95 p. 95

20.20. Infant Mortality Rate p. 79Infant Mortality Rate p. 79

21.21. Export p. 140 Export p. 140 22.22. Free EnterpriseFree Enterprise//Free Market p. Free Market p.

140 140

23.23. Industrialization p. 304, 730Industrialization p. 304, 730

24.24. Cash Crop p. 433 Cash Crop p. 433

25.25. Commodity p. 462Commodity p. 462

26.26. ““One-commodity” economy One-commodity” economy p. 462p. 462

27.27. Strategic commodity p. 529Strategic commodity p. 529

28.28. Subsistence Activity p. 714,Subsistence Activity p. 714,

Free (‘cause I love you all…) DefinitionsFree (‘cause I love you all…) Definitions(Thank you Mrs. Wurst)(Thank you Mrs. Wurst)

► Human Development IndexHuman Development Index A summary composite index A summary composite index that measures a country's average achievements in three basic that measures a country's average achievements in three basic aspects of human development: longevity (LE), knowledge (Ed, aspects of human development: longevity (LE), knowledge (Ed, LR), and a decent standard of living(GDP). LR), and a decent standard of living(GDP). Longevity is measured by Longevity is measured by life expectancy at birth; knowledge is measured by a combination of the life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio; and standard of living is measured by GDP per capita. enrollment ratio; and standard of living is measured by GDP per capita.

► Free Trade Agreement Free Trade Agreement --((FTAFTA) is a trade bloc/group whose ) is a trade bloc/group whose member countries have signed an member countries have signed an FTAFTA, which eliminates tariffs, , which eliminates tariffs, import quotas, and preferences on most (if not all) good and import quotas, and preferences on most (if not all) good and services traded between them. services traded between them.

► Life Expectancy - Life Expectancy - # of years a person is expected to live # of years a person is expected to live (women tend to live longer than men)(women tend to live longer than men)

► Literacy Rate – Literacy Rate – the ability to read and write (usually at a 2the ability to read and write (usually at a 2ndnd - -55thth grade level) grade level)

► Arable – Arable – land suitable for farming/agricultureland suitable for farming/agriculture