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| Question | Answer |
| Development | The use of natural and human resources to achieve a higher standard of living. |
| Development indicators | GDP (Gross Domestic Product) and GNI (Gross National Income) |
| GDP (Gross Domestic Product) | Total value of the goods and services produced by a country in a year. |
| GNI (Gross National Income) | It is like GDP - but also includes money earned from overseas. |
| Per capita | Per person |
| PPP | Purchasing power parity |
| Correlation | Connection between two or more things. |
| Human Development Index (HDI) | Life expectancy, Education - both the literacy rate and the average number of years spent at school and GDP per capita PPP. |
| Standard of living | How much money people have - so it is measured in GDP per capita. |
| Informal settlements | They are also known as slums, shanty towns, or favelas in different part of the world. |
| Global inequalities | Other way to describe the fact that our world is unequal. |
| Trade | When countries buy and sell goods and services. |
| Exports | Things they sell to other countries. |
| Imports | The goods and services they buy from elsewhere. |
| Trade balance | The difference between imports and exports. |
| Trade surplus | The country becomes richer and people's standard of living improves. |
| Trade deficit | The country will stay poor, get into debt and people's lives won't improve. |
| Newly Industrialised Countries (NIC) | Countries which have become more important in world trade like Singapore, South Korea and Taiwan. |
| Tariffs | Taxes and customs duties paid on imports. |
| Quotas | Limits on the quality of goods that can be imported. |
| Free Trade | When countries don't discourage, or restrict, the movements of good with tariffs and quotas. |
| Trading Groups | These are countries that have grouped together to increase the amount they trade between them, and the value of their trade. |
| The World Trade Organization (WTO) | Deals with the rules of global trade. |
| Fair Trade | Trade between companies in developed countries and producers in developing countries in which fair prices are paid to the producers. |
| Highly indebted poor countries (HIPC) | Are a group of 38 poorest countries with the greatest poverty and debt. They include Uganda and Honduras. |
| Conservation Swaps (Debt-for-nature swaps) | A deal reached between a country which owes a wealthier country money. The wealthy country cancels the debt as long as the country in debt invests in conservation programmes. |
| Aid | When a country receives help from another country, or an organisation such as an NGO(e.g. Oxfam), to help it to develop and improve people's lives. |
| Donor | The country or organisation giving aid. |
| Recipient | The country receiving the aid. |
| Non-governmental organisation (NGO) | Oxfam or UNICEF |
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