DEVELOPMENT

Trade
• The activity of buying and selling, or exchanging, goods and/or
services between people or countries.
Industry
• The companies and activities involved in the process of producing
goods for sale, especially in a factory or special area.
Import
• To buy or bring in products from another country.
Export
• To send goods to another country for sale.
Investment
• The act of putting money or effort into something to make a profit or
achieve a result.
Income
• Money that is earned from doing work or received from
investments.
Profit
• Money that is earned in trade or business after paying the costs of
producing and selling goods and services.
Wealth
• A large amount of money, property, or valuable possessions that a
person or a country owns.
Loans
• An amount of money that is borrowed, often from a bank, and has to
be paid back, usually together with an extra amount of money that
you have to pay as a charge for borrowing (interest).
Economy
• The system of trade and industry by which the wealth of a country is
made and used.
• The system of making money and producing and distributing goods
and services within a country or region.
Development
• The process of growing or changing and becoming more advanced.
• Development is also the organized increase of a country’s industry
and wealth.
Economic Development
• The process in which an economy grows or changes and becomes
more advanced, especially when both economic and social conditions
are improved.
How is money spread around the world?
• The World Bank is an international organization which provides loans,
advice and research to countries to support economic development.
How is money spread around the world?
• The World Bank uses one main indicator to measure development,
Gross National Income (GNI) per capita.
Gross National Income (GNI) per capita.
• This is the dollar value of a country’s final income in a year, divided
by its population.
• Tables A and B (page 124) show the top 10 and bottom 10 countries in
the world using this indicator to measure development.
• Map C shows a choropleth map of the world of GNI per capita. It can
be used to compare development at a global scale.