MATERIAL WORLD VOCABULARY. Material World Vocabulary Standard of Living- The measure of the quality...

MATERIAL WORLD VOCABULARY

Material World Vocabulary• Standard of Living- The measure of the quality of life in a

given country based on income and material possessions• Life Expectancy- The average age a person can expect to

live• Literacy rate- the percentage of people who can read and

write• Infant mortality- the number of infants who die before

reaching the age of one• Birth rate- The number of children born each year for

every 1,000 people• Per capita income- a country’s total income divided by its

population

Life Expectancy

Material World Vocabulary• Economics- The study of how goods and services are

produced, distributed and consumed. • Undeveloped Economy- an economy which is more

agricultural than industrial• Developing Economy- an economy which is in the

process of becoming industrialized • Developed Economy- an economy which is more

industrialized than agricultural • Urban population- the percentage of people who live and

work in a city• Rural population- the percentage of people living and

working in the countryside

Material World Vocabulary• Subsistence farming- A farm which produces only enough

food to feed the family• Commercial farming- Growing food in large quantities to

make a living.• Manufacturing- businesses which produce goods for sale• Service industries- businesses which sell services to

people• Import- a product brought into a country through trade or

sale. • Export- a product traded or sold to another country

Subsistence Farming

Commercial Farming

Material World Vocabulary• Resources- anything from the natural environment that

people use to meet their needs• Arable Land- land which can be farmed for food• Water- water is a necessary for all plants, animals as well

as humans. Water can also be used for transportation, power for electricity and provide food and jobs

Material World Vocabulary• Location- where a country is located can affect the

economy. A coastal country will be able to trade easily with other countries. An isolated or landlocked country may have difficulty getting goods to markets.

• Renewable resources- resources that can be used and replaced in a relatively short period of time

• Non-renewable resources- resources which cannot be replaced or can only be replaced over millions of years

Renewable v. Nonrenewable Resouces