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AP HUG > unit 7 > Flashcards

unit 7 Flashcards

1
Q

industrial revolution

A

a set of changes in technology that dramatically increased manufacturing productivity

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2
Q

industrialization

A

the development of industries for the machine production of goods

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3
Q

natural resources

A

resource found in nature that is immediately usable by humans. no change is needed

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4
Q

raw materials

A

resource that must be changed to be used by humans

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5
Q

colonialism

A

(more powerful) country conquers and rules over a country

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6
Q

imperialism

A

empire expands into surrounding areas/countries

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7
Q

primary sector

A

extracting natural resources

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8
Q

secondary sector

A

processing natural resources

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9
Q

tertiary sector

A

providing services

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10
Q

quaternary sector

A

knowledge based. dealing with others’ money. finance, insurance, real estate

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11
Q

quinary secotr

A

highest levels of decision making

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12
Q

break of bulk points

A

point where the mode of transportation carrying a product changes

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13
Q

least cost location theory

A

predicts location of a manufacturing site relative to the location of the resources needed to produce the product and where the final product will be sold

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14
Q

core

A

most developed countries

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15
Q

semi periphery

A

in between core and periphery in terms of development

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16
Q

periphery

A

least developed countries

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17
Q

gross domestic product

A

measures the value of goods and services produced within a country’s borders, by citizens and non-citizens

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18
Q

gross national product

A

measures the value of goods and services produced by only a country’s citizens but both domestically and abroad

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19
Q

gross national income per capita

A

the dollar value of a country’s final income in a year, divided by its population

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20
Q

formal economy

A

all economic activities operating within the official legal framework that are paying taxes on all generated incomes

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21
Q

informal economy

A

economic activity that is not subject to government regulation or taxation

22
Q

income distribution

A

a statistical measure of how many people earn or receive various amounts of income

23
Q

gender inequality index

A

measures. gender equality. not like that’s obvious at all. closer to 0 means most equality

24
Q

human development index

A

the factors that are calculated are the GDP per capita, adult literacy rate, average level of education, and total life expectancy

25
Q

gender parity

A

compares a specific indicator (ex. income) between men and women of a particular country

26
Q

microloans, microfinance

A

provide small loans to start or expand a business to entrepreneurs who would not normally qualify for credit from traditional sources

27
Q

rostow’s stages of economic growth

A

stages: traditional society, pre-condition for take-off, take-off drive to maturity, high mass consumption

28
Q

wallerstein’s world system thoery

A

stages: core, semi-periphery, periphery

29
Q

dependency theory

A

core countries depend on peripheral contrives for labor and raw materials; peripheral depends on core for goods

30
Q

commodity dependence

A

a country is export-commodity-dependent when more than 60% of its exports are made up of commodities

31
Q

deindustrialization

A

contraction and decline of the weight of manufacturing industry within an economy

32
Q

complementarity

A

trade is greater if each side has something the other wants or needs

33
Q

comparative advantage

A

each producer will make what is most cost efficient; ex florida has comparative advantage over michigan for producing oranges

34
Q

neoliberal policies

A

policies emphasizing the value of free market (system of economic exchange without taxes, tariffs, etc) competition

35
Q

free trade agreements

A

a pact between two or more nations to reduce barriers to imports and exports among them

36
Q

tariffs

A

tax put on goods as they leave a country

37
Q

global financial crises

A

period of extreme stress in global financial markets + banking systems

38
Q

outsourcing

A

turning over much of the responsibility for production to independent suppliers

39
Q

special economic zones

A

an area in a country that is subject to different economic regulations than other regions within the same country

40
Q

free trade zones

A

offers businesses cash flow advantages by suspending customs import taxes and duties, trade levies, quotas and import controls

41
Q

export processing zones

A

physical spaces within a country where special regulations benefit foreign controlled businesses

42
Q

international division of labor

A

a system of employment in the various economic sectors spread throughout the world

43
Q

post fordist methods of production

A

flexible production; organizes workers into teams that perform a variety of tasks and solve problems through consensus

44
Q

multiplier effect

A

allocating more funds to one specific area has impacts on many other industries

45
Q

economies of scale

A

cost advantages for a company when production becomes efficient

46
Q

agglomeration

A

the spatial grouping of people or activities for mutual benefit

47
Q

just in time delivery

A

method of transportation, storage, and delivery that allows businesses to only store what they need for consumers to get quickly

48
Q

service sector

A

industries concerned with the collection, processing, and manipulation of information and capital

49
Q

high technology industry, technopoles, growth poles

A

a place where technology and computer industries agglomerate

50
Q

ecotourism

A

responsible travel to natural areas that conserves the environment, sustains the well-being of the local people, and involves interpretation and education

AP HUG (14 decks)

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