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RG Flash cards > Unit 7 > Flashcards

Unit 7 Flashcards

1
Q

Agglomeration

A

The tendency of enterprises in the same industry to cluster in the same area

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2
Q

Break-of-Bulk Point

A

Location where it is more economical to break raw materials into smaller units before shipping them further

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3
Q

Bulk-Gaining Industry

A

Industry in which the finished good cost more to transport than the raw materials

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4
Q

Bulk-Reducing Industry

A

Industry in which the finished good cost less to transport than the raw materials

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5
Q

Dual Economies

A

Economies with two distinct distributions of economic activity across the economic sectors

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6
Q

Gross Domestic Product (GDP)

A

The total value of the goods and servces produced by a country’s citizens and companies within the country in a year

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7
Q

Industrial Revolution

A

The radical change in manufacturing methods that began in Great Britain in the mid 18th century and was marked by the shift from small scale hand crafted production to power driven mass production

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8
Q

Least-Cost Theory

A

industry is situated within the area where the costs of transporting raw materials and the final output are minimal

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9
Q

Primary Sector

A

The sector of industry that gathers raw materials (logging, mining)

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10
Q

Quaternary Sector

A

The scientific sector of industry

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11
Q

Quinary Sector

A

The head sector of industry (CEO)

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12
Q

Raw Materials

A

the input goods or inventory that a company needs to manufacture its products

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13
Q

Secondary Sector

A

The sector of industry that processes materials into final products and ships it to be sold

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14
Q

Tertiary Sector

A

The financial and business sector of industry

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15
Q

Commodity Dependence

A

when commodities are a dominant export in an economy

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16
Q

Dependency Theory

A

How resources flow from core to periphery for manufacturing and back to core for selling

17
Q

Formal Sector

A

The sector watched and regulated by government

18
Q

Gender Development Index (GDI)

A

measures gender inequalities in achievement in three basic dimensions of human development: Health, Education, Economy

19
Q

Gender Inequality Index (GII)

A

provides insights into gender disparities in health, empowerment and the labour market

20
Q

Gross National Income (GNI)

A

the sum of a country’s GDP plus net income from foreign countries

21
Q

Gross National Product (GNP)

A

the total value of all finished goods and services produced by a country’s citizens in a year

22
Q

Human Development Index (HDI)

A

a summary measure of average achievement in key dimensions of human development, health, standard of living, and per Capita income

23
Q

Informal Sector

A

The sector unwatched, regulated, and untaxed by the government

24
Q

Labor-Market Participation (LMP)

A

The number of people in a country’s labor force

25
Q

Microloan

A

A small loan with little interest given out to small businesses and non-profit orgs

26
Q

Export Processing Zone (EPZ)

A

provide incentives for foreign companies to conduct their business in developing regions

27
Q

Fordism

A

specialized and organized mass production at a single site

28
Q

Free Trade Zone (FTZ)

A

an area where goods may be imported, stored, and exported and not subject to customs duty

29
Q

Just-in-Time Delivery

A

an inventory and supply chain management approach which aims to increase efficiency by reducing inventory

30
Q

Multiplier Effect

A

Once an industry moves in, the increase of economy and people in an area

31
Q

Neoliberalism

A

belief in sustained economic growth as the means to achieve human progress

32
Q

Offshore Outsourcing

A

When a company goes to a factory or manufacturing in a foreign country for cheaper production

33
Q

Post-Fordism

A

modern industrial production has moved away from mass production in huge factories

34
Q

Special Economic Zone (SEZ)

A

designated areas within a country that have special economic regulations that are more favorable than the regulations that apply in the rest of the country

RG Flash cards (8 decks)

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