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
Specific examples of Developing Countries
Democratic Republic of Congo, Ethiopia, Pakistan, Bangladesh
energy surplus
When a country or region has more than enough sources of power for its needs and is able to export its excess power to other countries
energy deficit
When a country or region does not have enough energy resources for its needs and has to import it from other countries
Energy security
a country’s ability to secure all its energy needs
Malthus’s Theory of population vs resources
population will grow too fast and food supply won’t catch up
Boserup’s Theory of population vs resources
population increase will cause humans to ‘invent’ their way out of the problem - i.e come up with new ways to stimulate food production
Club of Rome theory on population vs resources
there are ‘limits to growth’ - population and overall development of countries (i.e GDP) will decline in next 100 years if continue at current rates of growth - i.e unless more sustainable approach taken
Benefits of Informal sector
- Provide employment for poorest people
- create cheap services for people who might not be able to afford them (i.e rickshaws = informal = cheap transport)
Negatives of Informal sector
- No regular income - can fluctuate
- No healthcare or employment benefits (i.e pensions).
- Often unsafe working conditions.
