Unit 7 - 1 Flashcards
Process of using machines and large scale processes to convert raw materials into manufactured goods. Stimulated social, political, demographic, and economic changes in societies at all scales.
Industry
Needed for industry. Basic substances. Ex. minerals and crops needed to manufacture finished goods
Raw Materials
Place where products are sold.
Market
Small home based businesses that made goods, pre 18th century. Depended on: intensive human labor. Still important now(handcrafted= expensive).
Cottage Industries
Series of technological advancements
Industrial Revolution
Stretched across midlatitudes of Northern Hemisphere, included NE and MW US, much of Europe, some Russia, and Japan.
Industrial Belt
Process of decreasing reliance on manufacturing jobs.
Deindustrialize
Regions w/ large number of closed factories.
Rust Belt
Economic sector having to do with extracting raw materials. Farming, mining. Almost all in US, 1800s(agriculture). Physical skill, high risk, few high paying.
Primary economic sector
Economic sector having to do with processing the materials into usable goods(manufacturing and building). 1840–1960 = growth. Wages depend.
Secondary economic sector
Economic sector having to do with providing services(teaching, medicine). Became so big that it split further. Small part of economy until mid 1900s. Most people, wages depend.
Tertiary economic sector
Economic sector having to do with managing and processing info(data science, software development). Small % of people. Need advanced education and technical skills. High wages.
Quaternary economic sector
Economic sector having to do with creating information and making high level decisions(research, top managers in corporations/governments). Very small amount of people. High income. Decisions affect millions.
Quinary economic sector
Potential of a job to produce additional jobs. Seen most in secondary(You’re rich, buy more, everyone becomes richer).
Multiplier effect
German economist Alfred Weber, to explain key decisions by businesses about factory location. To minimize total costs, 3 factors:
-Min transportation costs
-Min labor cost(wages)
-Max agglomeration economies
Weber’s least cost model
Spatial grouping of several businesses to share costs(access roads to highways).
Agglomeration economies
t and 2 resource3 points = 1 market and 2 resources for the good.
Locational Triangle
Weight losing, raw material oriented.
Bulk-reducing industry
Weight gaining, market oriented.
Bulk-gaining industry
Highly dependent on a workforce and will want to be near one(high tech companies are usually near major universities).
Labor-oriented industry
Procedure of transporting cargo from one mode of transportation to another. Achieved through containerization.
Break of bulk
System in which goods are located to a standardized shipping unit.
Containerization
Can be carried on truck, train, ship, or plane.
Intermodal
Can pack up and leave for new location quickly and easily. Ex. call centers(locational demands = minimal).
Footloose
Less expensive office spaces(for other employees).
Back office
To impress clients, offices at expensive upper floors of a skyscraper in a big city for highest employees. Shows prestige, certain locations to flaunt wealth and popularity.
Front office
Dollar amount of all goods and services produced by a country’s citizens in one year. Interchangeable terms and involve money made by citizens regardless of location.
Gross National Product/Income(GNP/GNI)
Dollar amount of all final goods and services produced within a country in a year. Includes remittances.
Gross Domestic Product(GDP)
Past(unit 2…?) vocab. Profits from a foreign company going back to home country (earnings sent to workers’ families).
Remittances
Output divided by population. Makes an amount per person which is this.
Per Capita
Measure of what similar products cost in different countries.
Purchasing Power Parity(PPP)
Monitored by government, regulations followed and taxes paid, measured by gnp/gni and gdp.
Formal economic sector
Not monitored by government, includes things done without pay (chores, cooking for someone), and illegal things(drug dealing, identity theft, and not reporting tips on tax return is illegal).
Informal economic sector
(Gini index), measure of distribution of income, value 0–1. Higher number = higher degree of income inequality. 0 = all incomes are the same. 1 = one person has all the income and all others have none. Periphery and semi-periphery = higher. Shows the lack of a middle class.
Gini coefficient
Number of years someone is expected to live.
Life expectancy
% of pop that can read/write, usually above a 8th grade level and higher.
Literacy rate
Differences in the privileges afforded to males and females in a society.
Gender gap
A composite measure of several factors indicating gender disparity. Composite score is a measure of the percent of potential human development lost due to gender inequality.
Gender Inequality Index(GII)
Released as an alternative measure of development in 1990. Since money alone can’t reflect human well being. Combines one economic measure(GNI per capita) with 3 social measures(life expectancy, expected years of schooling, and average years of schooling). Composite score: 0–1. Higher value = higher levels of development.
Human Development Index(HDI)
Trend reflecting employment discrimination, women not getting high level jobs in companies, civil service, or government, especially in LDCs. If a country gets rid of it, standard of living goes up.
Glass Ceiling
International non-profit agencies(that empower women to find jobs outside the home).
Non-governmental Organizations
Example of how NGOs helped women. Give loans to start/expand a business. Ex. Grameen bank. Gives women more influence in homes/communities and NBR goes down and lower child mortality rates.
Microloans/microcredit
