Industry and Economic Development Flashcards
Acid Rain
Describes any form of precipitation with an unusually low pH value. The low pH value is the result of pollutants, such as sulfer dioxide and nitrogen oxide, which chemically alter water droplets. The burning of fossil fuels increases the occurrence of acid rain
Agglomeration
The centralization of parts of an industry for the mutual benefit of the industry as a a whole
Air Pollution
The presence of unnatural human products in the atmosphere as a result of human activities
Basic Industries
The industries that are the focal point of the economy for a city
Biomass
The use of agricultural products or natural vegetation to produce a fuel that engines can use
Capitalism
An economic system that lets the competitive market determine the price of goods and people have the freedom to choose their outcomes based on their ability to pay for a product
Communism
The government has total control over the prices of goods in a society ranging from the price of bread to utility prices
Core-Periphery Model
Suggests the core areas are more developed while periphery areas are less developed and often times the periphery is at the economic beckoning of the core through resources
Cumulative Causation (Positive Feedback)
Continued growth that feeds on itself
Debt-for-Nature Swap
The forgiveness of debts in exchange for setting aside land for conservation or preservation; this swap is of interest to many less developed countries that have tallied up large debts to more developed countries and feel pressure to repay them
Deglomeration
Occurs when the market becomes saturated with a particular industry, creating too much competition and forcing some businesses to shut down
Dependence Theory
Suggest that more developed countries exploit less developed countries to remain at the top of international trade
Ecotourism
Using the natural beauty of the land as a selling point to promote tourism, which then provides the necessary funds to preserve that ecological area and, often, sustain the associated human community
Fixed Costs
Costs that do not fluctuate depending on the quantity ordered
Footloose Industry
A company with no allegiance or ties to a country or a location that, therefore, can move its primary location
