Chapter 11 (Unit 7 Industrial and Economic Development) Flashcards
Industrial Production
The process of using machines and large-scale processes to convert raw materials into manufactured goods.
The industrial revolution
a series of tech advances in the 1700s that resulted in complex machinery which could make products faster and more efficiently.
Rapid Urban growth led to?
Overcrowding, housing shortages, poverty, starvation, pollution, diseases, more pandemics, fires, and natural disasters.
Colonies provided
Raw materials, labor, food, soldiers
Primary Economic Activities
Extraction of raw materials and natural resources, mining, fishing agriculture, forestry.
Secondary Economic Activities
Manufacturing raw materials into a finished product, factories.
Tertiary Economic Activies
Service sector that moves sells and trades products in first and second, obtains resources from the tertiary sectors
Quaternary Economic Activies
Knowledge based, research and information creation, education, real estate, college, banking.
Quinary Economic Activiteis
Highest levels of decision making, government, busines, congress, CEOs
MDC
More Developed Country, less primary sector, more tertiary sector
LDC
Less tertiary, more primary sector, less tertiary
Weber’s Least Cost Theory 1909
Transportation, labor, the benefit of agglomeration.
Uniformity of area
human and physical geographic features are uniform
Labor
SUfiecient labor is available in fixed location it is immobile
Raw materials
raw materials are found only in certain fixed locations
Number of products and markets
there is one product produced and produced goods are only sold in a fixed location in a single market
Transportation costs
Transportation costs are directly related to the distance of travel and to the weight of the items
Influences on location
Economic factors dominate the decision about where to locate the factory.
Gross Domestic Product
The total value of goods and services, so add up all the things sold in the country
Gross National Product
Total value of exports, goods and services so add up EVERYTHING
Gross National Income
The total of the GDP added to the exports subtracted by the imports.
Formal Economy Sector
Regulated and taxed by the gov, is included in the GDP and GNI
Informal Economy Sector
Mostly illegal products that are not regulated by the government, drugs black market goods, and babysitting.
Gini Coefficient
Measures the distribution of income within a population
Human Development Index
Combines health education and Living conditions to see how developed humans are.
Gender Inequality Index
Combining social economic and political to determine equality, a higher score means lesser equality: reproductive health empowerment and labor market.
Microfinance programs
provide loans to women to start or expand a business, typically in south Asia and south america
Core countries
Strong military, global market controll, business headquarters
Semi Periphery countries
middle income, in process of industrialization, better communication and transportation than periphery
Periphery Countries
Unstable governments, less wealth, lower levels of education than the core, exportation
Dependency Theory (Core and Periphery)
Periphery depends on cashflow to periphery and core depends on natural resources
Brandt Line
Divides the northern and southern hemispheres based on development
Outsourcing
Taking internal company things that you pay an outside firm to handle
Offshoring
moving elements of company operations overseas to get cheaper labor.
Reshoring
bringing an offshored branch of the company back to the country of origin.
