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Chemistry > Economic Development: Key Terms > Flashcards

Economic Development: Key Terms Flashcards

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0
Q

Back offices

A

Offices of a company handling high-volume communications by telephone, electronic transaction or letter. Are increasingly decentralised to locations where space and labour costs are more ideal.

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1
Q

Appropriate technology

A

Specifically designed for the area it will be used in.

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2
Q

Balance of trade

A

The difference between the cost of imports and the cost of exports

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3
Q

Biofuels

A

Any fuel derived from renewable biological sources such as plans for animal waste

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4
Q

Biomass

A

Biological material used to generate energy, for example plants grown for biofuel.

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5
Q

Carbon footprint

A

The affect human activities have on the climate in terms of the total amount of greenhouse gas production.

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6
Q

Cumulative causation

A

The process whereby a significant increase in economic growth can lead to even more growth as more money circulates in the economy

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7
Q

Deindustrialisation

A

The long-term absolute decline of employment in manufacturering.

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8
Q

Desertification

A

The degradation of land in arid and semi arid areas resulting primarily from human activities and influenced by climatic variations.

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9
Q

Development

A

The use of resources and the application of available technology to improve the standard of living within a country

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10
Q

Disposable income

A

The amount of income a person has left after paying for all necessities

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11
Q

Economic core region

A

The most highly developed region in a country with advanced systems of infrastructure and high levels of investment, resulting in high average income.

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12
Q

Economic migrants

A

People who move to another country to get a better job and improve their standard of living

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13
Q

Energy gap

A

The gap between demand for energy and the energy that can actually be supplied

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14
Q

Exports

A

Goods that are sold to other countries

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15
Q

Extensive farming

A

When one type of farming and large farms dominate a very large area. Inputs per hectare are low compared with intensive farming, such as market gardening

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16
Q

Food miles

A

The distance that food has been transported before it is sold.

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17
Q

FDI (foreign direct investment)

A

Overseas investments in physical capital by MNCs

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18
Q

Free trade

A

Trade between countries when the prices paid are determined by what is the producer wants to be paid and what the consumer is prepared to pay and there are no barriers

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19
Q

GDP (Gross domestic product)

A

Total value of goods and services produced by a country in a year

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20
Q

GDP at purchasing power parity (PPP$)

A

The GDP other country converted into US dollars on the basis of the purchasing power parity of the countries currency. It is assessed by calculating the number of units of a currency required to purchase the same representative basket of goods and services to US dollar would buy in the USA.

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21
Q

Global city

A

Major world city supplying financial, business and other significant services to all parts of the world. The world’s major stock markets and the headquarters of large MNCs are located in global cities.

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22
Q

Globalisation

A

The increasing interconnectedness and interdependence of the world economically, culturally and politically

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23
Q

Global shift

A

Where the global trends for wealth e.g. MEDCs/LEDCS, changes as it levels out.

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24
Q

Greenhouse effect

A

The property of the earth’ atmosphere by which long wavelengths heat rays from the earth’s surface are trapped or reflected back by the atmosphere.

25
Q

Gross national income

A

Total value produced within a country together with its income received from other countries

26
Q

High-technology cluster

A

Where high-tech companies group together in a region because their location factors are similar and such companies benefit from being in close proximity

27
Q

Imports

A

Good that are bought from other countries

28
Q

Informal sector

A

Jobs that are often without regular hours and payment

29
Q

Infrastructure

A

The basic amenities that people need in a city, such as roads, sewerage, electricity and water supplies.

30
Q

International aid

A

The giving of resources (money, food, goods, technology, etc.) by one country or organisation to another poorer country. The primary objective is to improve the economy and quality of life in a poor country.

31
Q

LEDC

A

Countries with low economic output per person, often measured by gross national product (GNP)

32
Q

Life expectancy

A

The average number of years a person may expect to live when born, assuming past trends continue.

33
Q

Literacy rate

A

Percentage of people that have basic reading skills

34
Q

Low-carbon economy

A

A country where significant measures have been taken to reduce carbon emissions in all sectors of the economy

35
Q

MEDC

A

Countries where there are is a high level of economic activity and where there is generally a good standard of living for most people

36
Q

MNC

A

Firms that produce goods in more than one country

37
Q

Multiplier effect

A

The process whereby a significant increase in economic growth can lead to even more growth as more money circulates in the economy

38
Q

Natural increase

A

An increase in population where there are more births than deaths in a year

39
Q

NIDL (New International division of labour)

A

This divides production into different skills and tasks that are spread across regions and countries rather than within a single company

40
Q

NIC (Newly industrialised countries)

A

Countries that have moved rapidly from having limited economic-development to having many new industries producing goods for both the home and export market

41
Q

NGO (Non-governmental Organisation)

A

Private organisations that work on big issues affecting humanity. They may get money from governments and work with the governments, but they are private organisations, not government-controlled.

42
Q

Niche market

A

Small markets that deal in a specialised product

43
Q

Non-renewable energy

A

Energy from sources that are finite and will eventually run out, such as fossil fuels

44
Q

North-south divide

A

The simple division between MEDCs (mainly in the north) and LEDCs (mainly in the South)

45
Q

Optimum location

A

The location that best satisfies the objectives of the company. For most, this will be the maximum profit location.

46
Q

Optimum population total (OPT)

A

The number of people that an area can support in a way that allows them to have a sustainable standard of living

47
Q

Outsourcing

A

Where are company contracts out some of its work to another company. This usually happens because the company can save money. However it can also happen if the company lacks certain skills.

48
Q

Periphery

A

Parts of the country outside the economic call region. The level of economic development in the periphery is significantly below that of the core.

49
Q

Product chain

A

The full sequence of activities needed to turn raw materials into a finished product

50
Q

Public Inquiry

A

A public meeting held to reach decisions about difficult planning proposals

51
Q

Quality of life

A

This term sums up all the factors that affects a person’s general well-being and happiness

52
Q

Re-industrialisation

A

The establishment of new industries in a country or region that has experienced considerable decline of traditional industries

53
Q

Seasonal employment

A

Temporary employment for part of the year only

54
Q

Subsidies and grants

A

Money that the government can give or loan to a business

55
Q

Subsistence farming

A

The most basic form of agriculture where the produce is consumed entirely or mainly by the family who work the land or tend the livestock. If a small surplus is produced it is sold or traded

56
Q

Sustainable development

A

Development that meets the needs of the present without harming the ability of future generations to meet their own needs

57
Q

Tariff

A

A tax put on goods when they are moved from one country to another (import tax)

58
Q

Trade deficit

A

When the cost of imports is greater than the money made from exports

59
Q

Trade surplus

A

When the money made from exports is greater than the cost of imports

Chemistry (84 decks)

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