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APHUG > EO6 - Chapters 15,16,17 > Flashcards

EO6 - Chapters 15,16,17 Flashcards

1
Q

Industrial Revolution

A

In the mid-1700s when technology drastically improved, causing increase in manufacturing.

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2
Q

Imperialism

A

A policy of extending a country’s political and economic power.

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3
Q

Assembly line

A

System where a product is moved from person to person with each person repeating a task.

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4
Q

Fordism

A

System of mass production.

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5
Q

Substitution principle

A

Businesses want to profit by substituting one factor of production for another.

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6
Q

Post-Fordism

A

Factories moving away from mass labor/production to including less humans and more machines.

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7
Q

Primary sector

A

Includes extracting natural resources. (e.g. fishing, farming, mining)

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8
Q

Secondary sector

A

Includes processing natural resources. (e.g. building, manufacturing)

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9
Q

Tertiary sector

A

Includes providing services. (e.g. marketing, banking, design)

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10
Q

Quaternary sector

A

Knowledge based sector. Includes research and development (e.g. business, consulting, financial services, education)

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11
Q

Quinary sector

A

Highest levels of decision making. Includes the top officials in government and business. (e.g. president, senior advisors)

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12
Q

Multiplier effect

A

The potential for a job to create more jobs.

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13
Q

Agglomeration economies

A

Spatially grouping businesses in order to share costs.

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14
Q

Isotropic plain

A

Area where human and physical geographic features are uniform.

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15
Q

Least cost theory

A

An influential theory that explains key decisions made by businesses about the location of a factory.

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16
Q

Locational triangle

A

Model that shows Weber’s theory by strategically placing the factory based on two raw material sources and the market to minimize transportation costs.

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17
Q

Bulk-reducing industry, Weight-losing industry, Raw material-oriented industry, Raw material-dependent industry

A

Products that are heavy and expensive to move from their source to the processing plant, but shrink as they reach their final product.

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18
Q

Bulk-gaining industry, Weight-gaining industry, Market-oriented industry,
Market-dependent industry

A

Products that are at their heaviest when they are finished.

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19
Q

Energy-oriented industry, Energy-dependent industry

A

Companies building plants near places with A LOT of energy.

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20
Q

Labor-oriented industry, Labor-dependent industry

A

Industries where labor takes up a lot of total expenses so they locate near training facilities.

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21
Q

Locational interdependence

A

Deciding the location of a factory depends on the location of other factories’ locations.

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22
Q

Just-in-time delivery

A

In-puts needed in assembly lines arrive at the plant close to when they are needed.

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23
Q

Footloose

A

Businesses that are flexible and can pack up and leave for a new location fast and easy due to minimal demands on location.

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24
Q

Front offices

A

A high-class, high-profile office for top executives usually located on the upper floors in downtown.

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25
Q

Back offices

A

Cheaper offices that house the rest of the employees.

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26
Q

Offshoring

A

Moving back offices to another country to reduce the cost of doing business.

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27
Q

Outsourcing

A

Contracting work out of the office to non-company employees of other companies in order to save money and have the work done more efficiently.

28
Q

Barter

A

System of exchange without the use of money.

29
Q

Complementarity

A

When both parties have goods/services that they desire from each other.

30
Q

Trading blocs

A

Groups of countries that trade based on agreed upon rules.

31
Q

NICs

A

Newly Industrialized Countries

32
Q

Transnational corporations

A

Businesses that operate in more than one country.

33
Q

New international division of labor

A

System of employment in the world’s various economic sectors. (Core countries, middle income countries, least developed countries)

34
Q

Export Processing Zone (EPZ)

A

Physical places in countries that have special regulations benefitting foreign businesses.

35
Q

Maquiladoras

A

EPZs in Mexico.

36
Q

Postindustrial

A

Economies in mostly wealthy countries that don’t employ a large amount of people in factories. Most people are providing services or processing information.

37
Q

Brownfields

A

Sites of abandoned factories in a post-industrial landscape.

38
Q

Rust Belt

A

Area in the Northeast of the US around the Great Lakes. Was hit the hardest by deindustrialization.

39
Q

Corporate park, Business park

A

Business offices that are gathered together.

40
Q

Technopoles

A

Hub for information-based industry and high-tech manufacturing.

41
Q

Growth poles, Growth centers

A

Area with many highly innovative and technologically advanced industries that bring economic development.

42
Q

Spin-off benefits

A

Positive outcomes in addition to the main outcome. (Bonuses)

43
Q

Backwash effects

A

Downsides of growth poles.

44
Q

Per capita

A

Per person.

45
Q

Gross national product (GNP) per capita

A

Country’s final output of goods and services in a year, divided by its population. Reflects average income of a citizen.

46
Q

Gross domestic product (GDP) per capita

A

GDP of a nation divided by the population. Reflects the country’s economic output per person.

47
Q

Gross national income (GNI) per capita

A

Country’s final income in a year divided by its population. Reflects the average income of a citizen before taxes.

48
Q

Purchasing power parity (PPP)

A

What an amount of money will buy.

49
Q

Gini coefficient, Gini index

A

System of measuring the distribution of income within a population.

50
Q

Gender gap

A

Privilege difference between male and females.

51
Q

Gender inequality index (GII)

A

Index for measuring gender differences.

52
Q

Human development index (HDI)

A

A measure that combines one economic and several social aspects to measure development.

53
Q

W. W. Rostow

A

American economist.

54
Q

Stages of economic growth model

A

Stages in the modernization model. Show a shift from traditional to modern forms of society.

55
Q

Modernization model

A

Model that focuses on the transition from traditional to modern forms of society.

56
Q

Immanuel Wallerstein

A

Historian

57
Q

World systems theory

A

A dependency model created by Immanuel Wallerstein showing a different view on Rostow’s economic development.

58
Q

Dependency model

A

Countries are part of a system where they are in an intertwined system and are all dependent on one another.

59
Q

Core-periphery model

A

A.K.A World Systems Theory as it is divided into 3 parts: core, semiperiphery, periphery.

60
Q

Core

A

Made up of economically advantaged areas of the world.

61
Q

Semiperiphery

A

Made up of middle-income countries, or emerging economies. Provides the core with manufacturing and services that the core no longer provides itself.

62
Q

Periphery

A

Made up of LDC’s. Get exploited from core and semiperiphery for low wages, raw materials, and agricultural production. Jobs mostly in primary sector.

63
Q

Sustainable development

A

Economic development that pleases people’s needs now, without hurting people’s quality of life in the future.

64
Q

NGOs

A

Non-governmental organizations. Organizations not part of the local/state federal government. Often help solve issues in poverty, hunger, education, equality, etc.

65
Q

Microcredit, Microfinance

A

Programs that provide a loan for starting or expanding a business to people who are traditionally denied loans.

APHUG (7 decks)

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