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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