Economic Activity and Energy Flashcards
Sectoral shift
The gradual change from an economy based on primary sectors, to one based on secondary to an economy based on tertiary and quaternary industry.
Transnational company (TNC)
A business which operates on a global scale in multiple countries
Energy gap
The difference between the demand for energy, and the supply of it. The gap is made worse by the phasing out of fossil fuel use.
Time-space compression
Faster connections for goods/information made possible through tech and transport
Deindustrialization
The loss of a manufacturing base in a region/country. Manufacturing often moves to areas where labour and land costs are cheaper.
Gross Domestic Product (GDP)
The total value of the output of all economic activity in a nation, including goods and services.
Global shift
the movement of manufacturing from HICs to cheaper production locations in LICs
Decentralisation
When industries and people relocate outwards from the urban centre.
CBD
The centre of the city where retail and office activities are clustered
Cycle of Poverty
Barriers that cause poor families to become trapped in poverty for generations
A country with a dominant primary sector
Ethiopia
A country with a dominant secondary sector
China
A country with a dominant tertiary sector
UK
Specific examples of Developed Countries
i.e Sweden, Germany, U.K, New Zealand
Specific examples of Emerging Countries
i.e Mexico, Brazil, South Africa, China, India