Mini Unit: Intro To Exonomics Flashcards
Industrialization meaning
An organized effort usually using machinery to produce more valuable / useful from available natural resources and primary products
Industrial Revolution : why there?
Eco
Free Enterprise. People were allowed to think ,create, and sell
Industrial Revolution : why there?
Soc
Stable population . Not at war
Industrial Revolution : why there?
Pol
The king allowed the people to think . Opposite of France
Industrial Revolution : why there?
Env
Coal and water
Industrial Revolution: Lasting Impactful Outcomes
Eco
-International trade( began in the middle ages) also known as globalization
- jobs shifted from farms to factories
- the world is classified by economics
Industrial Revolution: Lasting Impactful Outcomes
Soc
- population exploded
- less farmers, but more food ( technical advances)
- rise in life expectancy- rise in medication
- changed cultural landscape
- rural to urban
Industrial Revolution: Lasting Impactful Outcomes
Pol
Colonized because the needed more/ new resources
Industrial Revolution: Lasting Impactful Outcomes
Env
Population increased
Natural resources decreased
What is the Brandit line ?
This line was created in 1980 and dives the rich north and poor south
Core - MDCs ( make developed countries )
- these were the headquarters of the most largest multinational companies
- high skill,capital intensive products
- dominates periphery and semi periphery economically and politically
- benefits greatly from internal trade
RLE: USA, UK, Japan, Australia , Germany
Semi- Periphery NICs ( newy industrialized colonies )
- provides the core with manufactured goods and services that the core once provided for itself,but no longer does
RLEs: India, Mexico , South Africa , Brazil, and China
Periphery - LDCs( less developed countries )
- provides the core and semi- Periphery with inexpensive raw materials,labor and agricultural production
- weak laws protecting workers and environment
RLEs: Afghanistan, Zimbabwe , Peru, Kenya
How many sectors are in the economy ?
5
Which sector extracts or harvest products from the earth such as raw materials and basic foods ?
RLE: farmers, mines, fishermen,ranchers ,logging
Primary sector
Which sector produces finished goods from the raw materials extracted by the primary economy?
RLE: factory workers , sweat shops
Secondary sector
Which sector is known as the service industry . This sector sells the goods produced and provides commercial series to people and businesses ?
RLE: very basic lawnmowers, waiter, cook, teacher
Tertiary sector
Which sector consists of I intellectual activities. Sometimes called the knowledge economy
RLE: professors, media , podcast , researchers
Quaternary sector
Which a Ector includes the highest levels of decision making I’ma society or economy
RLE: CEO ,top banker
Quinary Sector
What does HDI stand for ?
Human development Index
Gross means
Total
The degree of wealth and material comfort of an identifiable group of people ( quantitative)
Standard of living
The level of health, comfort, opportunity, and happiness often identified group of people( qualitative )
Quality of life
What are the 3 components of HDI ?
1) A decent standard of living ( GNI per Capita / GNI index )
2) Long and healthy life ( Life expectancy at birth / Life expectancy index )
3) knowledge ( mean years of school and elected years of schooling / Education Index / literacy rate )
HDI has ___ social, ___ economic ,___ political
2 soc ( long and healthy life and knowledge) , 1 economic( standard of living ) , 0 political
What are some of the limitations of HDI?
Does not consider :
- cultural identity
- political freedom
- gender equality
- environmental sustainability
- income distribution
What is SDG?
Sustainable development goals ( UN)
Parity meaning
Equality
What are the 3 aspects of GII ?
Health ( social ) - material mortality ratio/ adolescent birth rate
Empowerment ( half social ,half political) - female and male population with at las secondary education / seats on Parliament
Labor market ( eco) - work outside the home
