unit 6 Flashcards

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1
Q

Agglomeration

A

Agglomeration: A localized economy in which a large number of companies and industries cluster together and benefit from the cost reductions and gains in efficiency that result from this proximity.

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2
Q

Assembly Line

A

Assembly line. Arrangement of workers, machines, and equipment in which the product being assembled passes consecutively from operation to operation until completed.

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3
Q

Brandt Line

A

Brandt Line. a line that divides the North and the South. It shows the divide between the more developed regions and the less developed regions.

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4
Q

Break Of Bulk Points

A

break-of-bulk point. a location where transfer is possible from one mode of transportation to another.

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5
Q

BRICS/NICS

A

BRICs/NICs. A group of high developing countries characterized by uneven development and high economic growth.

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6
Q

Bulk-Gaining Industries

A

Bulk-Gaining Industry. An industry in which the final product weighs more or comprises a greater volume than the inputs.

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7
Q

Bulk-Reducing Industries

A

Bulk-Reducing Industry. An industry in which the final product weighs less or comprises a lower volume than the inputs.

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8
Q

Capital

A

A capital is a city where a region’s government is located. 3 - 12+ Engineering, Geography, Human Geography, U.S. History.

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9
Q

CFC

A

chlorofluorocarbons. Chlorofluorocarbons (CFCs) are nontoxic, nonflammable chemicals containing atoms of carbon, chlorine, and fluorine

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10
Q

Commodity Dependence

A

Commodity dependence: an economy that relies on the export of primary commodities for a large share of its export earnings and hence economic growth

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11
Q

Comparative Advantage

A

Comparative advantage is the ability of a firm or individual to produce goods and/or services at a lower opportunity cost than other firms or individuals.

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12
Q

Complementarity

A

Complementarity refers to the presence of a demand or deficit at one location and a supply or surplus at another without which there is no economic rationale for any movement.

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13
Q

Core Periphery

A

he core—a central region in an economy, with good communications and high population density, which conduce to its prosperity—is contrasted with the periphery—outlying regions with poor communications and sparse population (for examples, see unemployment).

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14
Q

Cottage Industries

A

Cottage industry. industry in which the production of goods and services is based in homes (not factories); specialty goods (assembled individually or in small quantities) are often produced in this manner.

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15
Q

Deindustrialization

A

Deindustrialization is a process in which the industrial activity in a country or region is removed or reduced because of a major economic or social change.

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16
Q

Dependency Theory

A

Dependency Theory: Basically, the core countries depend on the periphery for labor and raw materials while the periphery depend on the core for goods.

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17
Q

Developed Country

A

More Developed Country (MDC) also known as a relatively developed country of a developed country, a country that has progressed relatively far along a continum of development. Primary Sector.

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18
Q

Developing Country

A

Developing Country. a country in an earlier stage of development. developing implies that the country has already made some progress and expects to continue. ( LDC)

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19
Q

Dual Economies

A

Dual Economy. The existence of two separate economic sectors within one country, divided by different levels of development, technology, and different patterns of demand. Extensive Agriculture.

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20
Q

Economic Sectors

A

Economic sectors. Comprised of 4 sectors (primary, secondary, tertiary, and quaternary.)

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21
Q

Economics of Scale

A

Economies of Scale. Def: The savings in cost per unit due to increasing the level of production (think Fordism).

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22
Q

Ecotourism

A

ECOTOURISM: Definition. Tourism that doesn’t harm environment + benefits local people. Usually a small-scale activity with small number of visitors in area at a time.

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23
Q

Export Processing Zones

A

Explanation: Export-processing zones are areas found in many regions of the developing world. They provide incentives for foreign companies to conduct their business in developing regions.

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24
Q

Fair Trade

A

Fair trade is a concept used in developing countries to help create sustainability.

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25
Q

Fordism

A

Definition. Fordist Production. Mass production in which each employee is given a specific task to continuously perform.

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26
Q

Formal Sector

A

A group of people, usually employees, that includes recognized income sources for paying income taxes based on all 40-hour, regular wage jobs.

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27
Q

Fossil Fuels

A

Fossil fuels are made from decomposing plants and animals.

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28
Q

Free Trade Zones

A

Free Trade Zone (FTZ) -A duty-free and tax-exempt industrial park created to attract foreign corporations and create industrial jobs.

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29
Q

Gender Development Index

A

The Gender-related Development Index (GDI) is an index designed to measure of gender equality.

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30
Q

Gender Inequality Index

A

Gender Inequality Index. includes empowerment, labor, and reproductive health, Africa, South Asia, Central Asia, and Southwest Asia with highest GII’s.

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31
Q

Greenhouse Effect

A

The greenhouse effect is the name given to the natural process that causes the Earth to be warmer than it would be in the absence of an atmosphere.

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32
Q

Gross Domestic Product

A

Gross Domestic Product (GDP) The value of the total output of goods and services produced in a country in a given time period (normally 1 year) Human Development Index (HDI) Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy.

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33
Q

Gross National Income

A

gross national income (GNI) calculates the monetary worth of what is produced within a country plus income recieved from investments outside the country.

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34
Q

Gross National Product

A

The Gross National Product is one of the most widely used and quoted statistics in economic geography, particularly in popular parlance.

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35
Q

Growth Poles

A

Definition of Growth Pole: GROWTH POLE REFERS to the concentration of highly innovative and technically advanced industries that stimulate economic development in linked businesses and industrie

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36
Q

Housing Bubble

A

housing bubble. definition: a rapid increase in the value of houses followed by a sharp decline in their value.

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37
Q

Human Development

A

Human development is defined as the process of enlarging people’s freedoms and opportunities and improving their well-being.

38
Q

Human Development Index

A

Definition: The Human Development Index (HDI) is a statistical tool used to measure a country’s overall achievement in its social and economic dimensions.

39
Q

Industrial Parks

A

Industrial parks for foreign companies to conduct export-oriented manufacturing.

40
Q

Industrial Revolution

A

Industrial Revolution: A period of rapid development of industry that started in Great Britain in the late eighteenth and nineteenth centuries.

41
Q

Industrialization

A

Industrialization. the development of industries for the machine production of goods. Industrial Revolution

42
Q

Industry

A

agglomeration. A process involving the clustering or concentrating of people or activities.

43
Q

Informal Sector

A

“The informal sector refers to those workers who are self employed, or who work for those who are self employed.

44
Q

Infrastructure

A

infrastructure. the basic structure or features of a system or organization. comparative advantage.

45
Q

International Division of Labor

A

A group of neighboring countries that promote trade with each other and erect barriers to limit trade with other blocs.

46
Q

Just In Time Delivery

A

Just-in-Time Delivery. Method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production, planning that what they need for longer-term production will arrive when needed

47
Q

Labor-intensive Industry

A

Labor-Intensive Industry. An industry for which labor costs make up a high percentage of total expenses

48
Q

Labor-Market Participation

A

Labor-Market Participation. A statistic that determines what percentage of an age group or gender is currently working

49
Q

Least-Cost Theory

A

Weber’s least cost theory suggests that a production point must be located within a “triangle,” with raw materials coming from at least two sources

50
Q

Literacy Rate

A

Literacy Rate. The percentage of a country’s people who can read and write.

51
Q

Maquiladora

A

Definition. Maquiladora. Factories built by U.S. companies in Mexico near the U.S. border, to take advantage of much lower labor costs in Mexico. Industrial Revolution

52
Q

Market Orientation

A

Market Orientation. Definition: the tendency of an economic activity to locate close to its market

53
Q

Mass Production

A

Mass Production. The production or manufacture of goods in large quantities. New International Division of Labor.

54
Q

Maternal Mortality Rate

A

Maternal mortality rate refers to the number of mothers who die in childbirth for every thousand births

55
Q

Microfinance

A

microfinance (microloans) Provision of small loans and other financial services to individuals and small businesses in developing countries.

56
Q

Microloans

A

microfinance (microloans) Provision of small loans and other financial services to individuals and small businesses in developing countries.

57
Q

Multiplier Effects

A

Multiplier effect: Describes the expansion of an area’s economic base as a result of the basic and non-basic industries located there

58
Q

Neocolonialism

A

Neocolonialism definition, the policy of a strong nation in seeking political and economic hegemony over an independent nation or extended geographical area without necessarily reducing the subordinate nation or area to the legal status of a colony.

59
Q

Neoliberalism

A

Neoliberalism is contemporarily used to refer to market-oriented reform policies such as “eliminating price controls, deregulating capital markets, lowering trade barriers” and reducing, especially through privatization and austerity, state influence in the economy.

60
Q

Offshore Outsourcing

A

Offshore outsourcing is the practice of hiring a vendor to do the work offshore, usually to lower costs and take advantage of the vendor’s expertise, economies of scale, and large and scalable labor pool.

61
Q

Outsourcing

A

Outsourcing. A decision by a corporation to turn over much of the responsibility for production to independent suppliers

62
Q

Ozone

A

The ozone layer is a thin part of the Earth’s atmosphere that absorbs almost all of the sun’s harmful ultraviolet light

63
Q

Pollution

A

Pollution of the environment occurs when humans contaminate the air, water, or land.

64
Q

Post-Fordism

A

post-Fordist. the world-economy now; a more flexible set of production practices in which the component of goods are made in different places around the globe and then brought together is needed to meet market demand-brings places closer together in time and space (ex: stock markets)

65
Q

Post-Fordist Production

A

Post Fordism refers to the flexible specialization of production in small batches.

66
Q

Postindustrial Economy

A

Post-industrial societies. Countries where most people are no longer employed in industry.

67
Q

Potential Reserve

A

potential reserve. The amount of energy in deposits not yet identified but thought to exist.

68
Q

Primary Industry

A

primary industry. The part of the economy that produces raw materials; examples include agriculture, fishing, mining, and forestry.

69
Q

Primary Sectors

A

Primary: Production of raw materials or natural resource extraction

70
Q

Productivity

A

Productivity is the value of a particular product compared to the amont of labor needed to make it

71
Q

Purchasing Power Parity

A

Purchasing Power Parity (PPP) a measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country.

72
Q

Quaternary Sector

A

Quaternary Sector. -The growth in technology and business leads to specialization of services.

73
Q

Quinary Sector

A

Quinary Sector. -Activities involve facilitating complex decision making and the advancement of human capacities.

74
Q

Raw Materials

A

Industries that produces goods or services that are consumed locally.

75
Q

Renewable Energy

A

energy from a source that is not depleted when used, such as wind or solar power.

76
Q

Rostow’s Model

A

Rostow’s Stages of Economic Growth include the following five stages: Traditional Society; Preconditions for Take-Off; Take-Off; Drive to Maturity; and Age of High Mass Consumption.

77
Q

Secondary Industry

A

Secondary industries are those that take the raw materials produced by the primary sector and process them into manufactured goods and products.

78
Q

Secondary Sectors

A

Secondary industries are those that take the raw materials produced by the primary sector and process them into manufactured goods and products.

79
Q

Site Factors

A

Site factors: A place’s physical features related to the costs of business production, such as land, labor, and capital.

80
Q

Situation Factors

A

Situation factors: The features of a location’s surrounding area, especially as related to the cost of transporting raw materials and finished goods.

81
Q

Special Economic Zones

A

A special economic zone (SEZ) is an area in a country that is subject to different economic regulations than other regions within the same country

82
Q

Stages of Economic Growth

A

Rostow’s Stages of Economic Growth include the following five stages: Traditional Society; Preconditions for Take-Off; Take-Off; Drive to Maturity; and Age of High Mass Consumption.

83
Q

Sustainable Development

A

Sustainable development is development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

84
Q

Tertiary Sectors

A

The tertiary sector of the economy is the service industry.

85
Q

Transnational Corporation

A

Transnational corporation: A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.

86
Q

Trickle Down Effects

A

increased wealth for upper class means benefit for the lower class. value added.

87
Q

Uneven Development

A

Uneven development means that development takes place at different rates in different regions.

88
Q

Value added

A

Value Added. The gross value of the product minus the costs of raw materials and energy.

89
Q

Wallerstein’s World System

A

Explanation: Wallerstein’s World Systems Theory postulates that the world is one interconnected collection of nations and states that, due to the initial wave of European colonialism in the late fifteenth and sixteenth centuries, is dominated by economic centers in Europe and North America.

90
Q

Theory

A

a supposition or a system of ideas intended to explain something, especially one based on general principles independent of the thing to be explained.

91
Q

Weber’s Least Cost Theory

A

Weber’s least cost theory suggests that a production point must be located within a “triangle,”

92
Q

Women’s Empowerment

A

Empowerment refers to the ability of women to obtain economic and political power.