AP HUG Unit 7 Reverse Flashcards
a set of changes in technology that dramatically increased manufacturing productivity
industrial revolution
the development of industries for the machine production of goods
industrialization
resource found in nature that is immediately usable by humans. no change is needed
natural resources
resource that must be changed to be used by humans
raw materials
(more powerful) country conquers and rules over a country
colonialism
empire expands into surrounding areas/countries
imperialism
extracting natural resources
primary sector
processing natural resources
secondary sector
providing services
tertiary sector
knowledge based. dealing with others’ money. finance, insurance, real estate
quaternary sector
highest levels of decision making
quinary secotr
point where the mode of transportation carrying a product changes
break of bulk points
predicts location of a manufacturing site relative to the location of the resources needed to produce the product and where the final product will be sold
least cost location theory
most developed countries
core
in between core and periphery in terms of development
semi periphery
least developed countries
periphery
measures the value of goods and services produced within a country’s borders, by citizens and non-citizens
gross domestic product
measures the value of goods and services produced by only a country’s citizens but both domestically and abroad
gross national product
the dollar value of a country’s final income in a year, divided by its population
gross national income per capita
all economic activities operating within the official legal framework that are paying taxes on all generated incomes
formal economy
economic activity that is not subject to government regulation or taxation
informal economy
a statistical measure of how many people earn or receive various amounts of income
income distribution
measures. gender equality. not like that’s obvious at all. closer to 0 means most equality
gender inequality index
the factors that are calculated are the GDP per capita, adult literacy rate, average level of education, and total life expectancy
human development index
compares a specific indicator (ex. income) between men and women of a particular country
gender parity
provide small loans to start or expand a business to entrepreneurs who would not normally qualify for credit from traditional sources
microloans, microfinance
stages: traditional society, pre-condition for take-off, take-off drive to maturity, high mass consumption
rostow’s stages of economic growth
stages: core, semi-periphery, periphery
wallerstein’s world system thoery
core countries depend on peripheral contrives for labor and raw materials; peripheral depends on core for goods
dependency theory
a country is export-commodity-dependent when more than 60% of its exports are made up of commodities
commodity dependence
contraction and decline of the weight of manufacturing industry within an economy
deindustrialization
trade is greater if each side has something the other wants or needs
complementarity
each producer will make what is most cost efficient; ex florida has comparative advantage over michigan for producing oranges
comparative advantage
policies emphasizing the value of free market (system of economic exchange without taxes, tariffs, etc) competition
neoliberal policies
a pact between two or more nations to reduce barriers to imports and exports among them
free trade agreements
tax put on goods as they leave a country
tariffs
period of extreme stress in global financial markets + banking systems
global financial crises
turning over much of the responsibility for production to independent suppliers
outsourcing
an area in a country that is subject to different economic regulations than other regions within the same country
special economic zones
offers businesses cash flow advantages by suspending customs import taxes and duties, trade levies, quotas and import controls
free trade zones
physical spaces within a country where special regulations benefit foreign controlled businesses
export processing zones
a system of employment in the various economic sectors spread throughout the world
international division of labor
flexible production; organizes workers into teams that perform a variety of tasks and solve problems through consensus
post fordist methods of production
allocating more funds to one specific area has impacts on many other industries
multiplier effect
cost advantages for a company when production becomes efficient
economies of scale
the spatial grouping of people or activities for mutual benefit
agglomeration
method of transportation, storage, and delivery that allows businesses to only store what they need for consumers to get quickly
just in time delivery
industries concerned with the collection, processing, and manipulation of information and capital
service sector
a place where technology and computer industries agglomerate
high technology industry, technopoles, growth poles
responsible travel to natural areas that conserves the environment, sustains the well-being of the local people, and involves interpretation and education
ecotourism
