concepts test Flashcards

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1
Q

Site

A

Exact location of a city

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2
Q

Situation

A

The location of a place relative to other places 

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3
Q

bulk reducing industry

A

Make products that wave less after assembly than before assembly

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4
Q

Bulk gaining industry

A

Make products that weigh more after assembly than before assembly

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5
Q

Break of bulk point

A

The name given to an economic center where a manufactured product is assembled, and then separated into various shipments, ready to be transported to a wide range of markets

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6
Q

Just in time delivery

A

A method of managing inventory that provides product only as they are needed rather than storing them

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7
Q

Outsourcing

A

Process of moving industrial production or service industries to external facilities or organizations often out of the country

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8
Q

maquiladoras

A

Export processing cities that exist in northern Mexico, close to the border with the US

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9
Q

Fordist production

A

A form of mass production in which each worker is assigned one specific task to perform repeatedly

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10
Q

post fordist production

A

The idea that modern industrial production has moved away from mass production and huge factories as pioneered by Henry Ford towards specialized markets based on small flexible manufacturing units 

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11
Q

Developed country

A

nation with a high standard of living, advanced, technological, infrastructure, and well established industries

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12
Q

developing countries

A

Nations that are less industrialized and have lower per capita income levels compared to developed countries

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13
Q

The human development index (HDI)

A

Measures the status of life in any given place based off of life, expectancy, education, levels, and income per capita

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14
Q

Gross national income per capita (GNI)

A

Total income generated by a country’s residence, including domestic and international sources divided by the population

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15
Q

Gross domestic product (GDP)

A

total accounting of a nations output, including all revenues and profits

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16
Q

purchasing power parity (PPP)

A

The amount of money needed in one country to purchase the same goods and services in another country

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17
Q

Primary

A

anything to do with the harvesting or mining of raw materials

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18
Q

Secondary

A

The sector of the economy that revolves around manufacturing

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19
Q

Tertiary

A

anything that has to do with the scale or exchange of goods 

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20
Q

Quinary

A

Organization structures, such as government organizations, public services, healthcare, and education

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21
Q

quaternary

A

generation of knowledge and sharing of research are associated with this economic activity. Examples of this are teaching, tourism and customer service.

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22
Q

Gender inequality index (GII)

A

A measure of the extent of each countries, gender inequality

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23
Q

World Trade Organization (WTO)

A

Organization that creates policies on global trading

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24
Q

European Union (EU)

A

Union of some European countries that is based to promote development within the member states through economic cooperation

25
Q

United Nations (UN)

A

tasked with preserving peace, deterring conflict, and promoting prosperity and equality in the world

26
Q

mercosur

A

regional trade bloc in South America, that promotes economic integration among its member states

27
Q

Organization of the petroleum exporting countries (OPEC)

A

An intergovernmental organization of 13 oil producing countries that aim to coordinate and unified the petroleum policies of its member states

28
Q

International monetary fund (IMF)

A

Organization of 188 countries working to foster global monetary cooperation, secure financial system, stability, facilitate international trade and promote high employment, sustainable economic growth, and reduce poverty around the world

29
Q

Microloans

A

Small loans provided to individuals or small businesses

30
Q

fair trade

A

A concept used in developing countries to help create sustainability

31
Q

Core

A

Dominant capitalist, countries, characterized by high levels of industrialization and urbanization

32
Q

Periphery

A

Less developed countries or regions that are economically and politically weaker than core countries

33
Q

semi periphery

A

Countries that have a standard of living lower than those in the core, but much higher than those in the periphery exclusively centers of manufacturing and exporting

34
Q

Least cost theory

A

Suggest that all major corporations make their decisions about where the house, their production and manufacturing facilities based on the least possible combination of cost so as to derive the greatest possible profit

35
Q

fossil feels

A

Made from decomposing plants and animals found in earths crust and contain carbon and hydrogen, which can be burned for energy, coal oil and natural gas examples

36
Q

Renewable energy

A

Energy sources that are naturally replenished on a human time scale

37
Q

Commodity

A

A link to system of processes that gather resources convert them into goods, package them for distribution disperse, and sell them on the market

38
Q

Complementary

A

two places are said to Exhibit a degree of complementarity, if each offer something to the other that it needs or wants

39
Q

comparative advantage

A

The ability of a country firm or individual to produce a good or service at a lower opportunity cost than other producers

40
Q

Neo liberal policies

A

Economic policies that promote free market principles, such as deregulation, liberation, and privatization

41
Q

Tariff

A

taxes on items leaving or entering a country often used to raise the price of imported goods

42
Q

tax

A

Contribution to state revenue, levied by the government on workers, income, and business profits or added to the cost of some good services and transactions

43
Q

Special economic zones

A

Designated areas within a country that has special economic regulations that are more favorable than regulations that apply in the rest of the country

44
Q

Free trade zones

A

allows for goods from foreign countries to be imported without a tariff

45
Q

Export processing zones

A

Areas found in many regions of the developing world they provide incentives for foreign companies to conduct their business and developing regions

46
Q

Asian dragon/tiger

A

Group of countries that first adopted the international trade alternative include South Korea, Singapore, Taiwan, and Hong Kong

47
Q

Division of labor

A

transfer of some types of jobs especially those were requiring low paid less field workers from more developed to less developed countries

48
Q

economies of scale

A

Reduction in the per unit cost of production as the volume of production increases

49
Q

multiplier effect

A

Increase in spinning, produces an increase in national income and consumption greater than the initial amount spent

50
Q

Growth poles

A

Specific area or sector that drives economic development in a region

51
Q

Agglomeration

A

Localize economy in which a large number of companies and industries cluster together and benefit from the cost reductions and gains in efficiency that result from this proximity

52
Q

Eco tourism

A

Type of tourism that focuses on experiencing natural areas while minimizing the negative impact on the environment

53
Q

Literacy rate

A

The percentage of people ages 15 and above, who can with understanding read and write a short simple statement on their everyday life

54
Q

fertility rate

A

An estimate of the average number of children born to eat female in their childbearing years

55
Q

traditional society 

A

This is the first stage in Rosedale model, where an economy is based primarily on subsistence farming, has limited technology and lacks infrastructure

56
Q

preconditions for takeoff

A

Increase in productivity brought by science, technology and investment and infrastructure and necessary for continued growth

57
Q

takeoff

A

The third step describes the moment when societies move toward full industrialization and certain specific way, such as a technological innovations, urbanization production of secondary goods, such as textiles and intense growth in specific sectors

58
Q

Drive to maturity

A

Fourth stage in Rasta model where technology diffuses industries diversify an investment reaches levels that promote sustain economic growth

59
Q

Ages of mass consumption

A

period of contemporary comfort afforded many western nations where consumers concentrate on durable goods and hardly remember the subsistence concerns of previous stages fifth stage of rostow