concepts test Flashcards
Site
Exact location of a city
Situation
The location of a place relative to other places 
bulk reducing industry
Make products that wave less after assembly than before assembly
Bulk gaining industry
Make products that weigh more after assembly than before assembly
Break of bulk point
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
Just in time delivery
A method of managing inventory that provides product only as they are needed rather than storing them
Outsourcing
Process of moving industrial production or service industries to external facilities or organizations often out of the country
maquiladoras
Export processing cities that exist in northern Mexico, close to the border with the US
Fordist production
A form of mass production in which each worker is assigned one specific task to perform repeatedly
post fordist production
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 
Developed country
nation with a high standard of living, advanced, technological, infrastructure, and well established industries
developing countries
Nations that are less industrialized and have lower per capita income levels compared to developed countries
The human development index (HDI)
Measures the status of life in any given place based off of life, expectancy, education, levels, and income per capita
Gross national income per capita (GNI)
Total income generated by a country’s residence, including domestic and international sources divided by the population
Gross domestic product (GDP)
total accounting of a nations output, including all revenues and profits
purchasing power parity (PPP)
The amount of money needed in one country to purchase the same goods and services in another country
Primary
anything to do with the harvesting or mining of raw materials
Secondary
The sector of the economy that revolves around manufacturing
Tertiary
anything that has to do with the scale or exchange of goods 
Quinary
Organization structures, such as government organizations, public services, healthcare, and education
quaternary
generation of knowledge and sharing of research are associated with this economic activity. Examples of this are teaching, tourism and customer service.
Gender inequality index (GII)
A measure of the extent of each countries, gender inequality
World Trade Organization (WTO)
Organization that creates policies on global trading
European Union (EU)
Union of some European countries that is based to promote development within the member states through economic cooperation
United Nations (UN)
tasked with preserving peace, deterring conflict, and promoting prosperity and equality in the world
mercosur
regional trade bloc in South America, that promotes economic integration among its member states
Organization of the petroleum exporting countries (OPEC)
An intergovernmental organization of 13 oil producing countries that aim to coordinate and unified the petroleum policies of its member states
International monetary fund (IMF)
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
Microloans
Small loans provided to individuals or small businesses
fair trade
A concept used in developing countries to help create sustainability
Core
Dominant capitalist, countries, characterized by high levels of industrialization and urbanization
Periphery
Less developed countries or regions that are economically and politically weaker than core countries
semi periphery
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
Least cost theory
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
fossil feels
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
Renewable energy
Energy sources that are naturally replenished on a human time scale
Commodity
A link to system of processes that gather resources convert them into goods, package them for distribution disperse, and sell them on the market
Complementary
two places are said to Exhibit a degree of complementarity, if each offer something to the other that it needs or wants
comparative advantage
The ability of a country firm or individual to produce a good or service at a lower opportunity cost than other producers
Neo liberal policies
Economic policies that promote free market principles, such as deregulation, liberation, and privatization
Tariff
taxes on items leaving or entering a country often used to raise the price of imported goods
tax
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
Special economic zones
Designated areas within a country that has special economic regulations that are more favorable than regulations that apply in the rest of the country
Free trade zones
allows for goods from foreign countries to be imported without a tariff
Export processing zones
Areas found in many regions of the developing world they provide incentives for foreign companies to conduct their business and developing regions
Asian dragon/tiger
Group of countries that first adopted the international trade alternative include South Korea, Singapore, Taiwan, and Hong Kong
Division of labor
transfer of some types of jobs especially those were requiring low paid less field workers from more developed to less developed countries
economies of scale
Reduction in the per unit cost of production as the volume of production increases
multiplier effect
Increase in spinning, produces an increase in national income and consumption greater than the initial amount spent
Growth poles
Specific area or sector that drives economic development in a region
Agglomeration
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
Eco tourism
Type of tourism that focuses on experiencing natural areas while minimizing the negative impact on the environment
Literacy rate
The percentage of people ages 15 and above, who can with understanding read and write a short simple statement on their everyday life
fertility rate
An estimate of the average number of children born to eat female in their childbearing years
traditional society 
This is the first stage in Rosedale model, where an economy is based primarily on subsistence farming, has limited technology and lacks infrastructure
preconditions for takeoff
Increase in productivity brought by science, technology and investment and infrastructure and necessary for continued growth
takeoff
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
Drive to maturity
Fourth stage in Rasta model where technology diffuses industries diversify an investment reaches levels that promote sustain economic growth
Ages of mass consumption
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
