Unit 7, 46 words

Question 1

focuses on the shift from tradition to modern forms of society

Answer 1

Stages of Economic Growth model

Question 2

In the 1970s, historian Immanuel Wallerstein proposed an alternative model to Rostow’s, which he called…

Answer 2

World Systems Theory

Question 3

countries do not exist in isolation but are part of an intertwined world system in which all countries are dependent on each other.

Answer 3

Dependency model

Question 4

raw material such as coffee,cocoa, and oil, that have not undergone any processing.

Answer 4

commodities

Question 5

when more than 60 percent of its exports are raw materials

Answer 5

Commodity dependence

Question 6

occurs when one party desires a good or service that it does not have or cannot produce and another party has the desired good or service with which it is willing to part.

Answer 6

trade

Question 7

a system of exchange in which no money changes hands.

Answer 7

barter

Question 8

ability to produce a good or service at a lower cost than others

Answer 8

comparative advantage

Question 9

when a country has the income, goods, or service that the another country desires

Answer 9

complementarity

Question 10

laws that reduced barriers to trade

Answer 10

free trade

Question 11

a set of reforms that reduced government regulations and taxation

Answer 11

neoliberal policies (neoliberalism)

Question 12

groups of countries that agree to acommon set of trade rules

Answer 12

trading blocs

Question 13

southern common market, which includes several south american countries

Answer 13

mercosur

Question 14

global organization to monitor the rules of international trade by providing a forum for negotiating trade deals, settling disputes between its members, supporting needs of developing countries, and helping companies follow similar international trade policies.

Answer 14

World Trade Organization (WTO)

Question 15

created in 1945 to aid countries caught in need of financial assistance

Answer 15

IMF

Question 16

contracting work to noncompany employees or other companies to reduce costs

Answer 16

outsourcing

Question 17

as with multinational manufacturing, some tertiary and Quaternary sector companies move their back offices to other countries.

Answer 17

offshoring

Question 18

Returning jobs to business’s home country

Answer 18

reshoring

Question 19

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

Answer 19

new international division of labor

Question 20

activities that creates new wealth for a region are considered…

Answer 20

basic economic activity

Question 21

does not generate new money for the area. Instead, it allows for re-circulation of the existing money in the area.

Answer 21

Non-basic economic activity

Question 22

businesses that operate in multiple countries are known as

Answer 22

TNC and MNC

Question 23

Over 100 countries in the world have attracted TNC and MNC by using special manufacturing zones. These offer foreign corporations major tax savings, inexpensive labor, fewer environmental regulations, well-serviced industrial sites…

Answer 23

EPZ

Question 24

specific area within a country in which tax and investment incentives are implemented to attract foreign (and domestic) businesses and investment.

Answer 24

Special economic zones (SEZs)

Question 25

export-processing cities that exist in northern Mexico, close to the border with the United States.

Answer 25

Maquiladoras

Question 26

locations where a foreign company can store, warehouse, transfer, or process without additional taxation or duties if goods are exported

Answer 26

. Free-trade zones (FTZs)

Question 27

one that no longer employs large numbers or people in factories but has people who provide services and process information

Answer 27

Postindustrial economy

Question 28

in which an item is moved from worker to worker, with each repeatedly performing the same task

Answer 28

assembly line

Question 29

system of mass production that changed manufacturing and became standard practice across industries. Use of assembly lines became standard practice.

Answer 29

fordism

Question 30

businesses maximize profit by substituting one factor of production for another, has been applied to the labor force

Answer 30

Substitution principle

Question 31

a term used to describe the growth of new production methods defined by flexible production, the individualisation of labor relations and fragmentation of markets into distinct segments. INDUSTRIAL ADAPTABILITY was the basis of…

Answer 31

Post-Fordist

Question 32

a system in which the inputs in the assembly processes arrive at the assembly location when they are needed

Answer 32

Just-in-time delivery

Question 33

the location decision for one factory is dependent upon the location of other related factories

Answer 33

Locational interdependence

Question 34

the spatial grouping of several businesses to share costs.

Answer 34

Agglomeration economies

Question 35

a hub for information-based industry and high-tech manufacturing

Answer 35

Technopoles

Question 36

Area of a country where specific industries that bring employees and thus causing economic growth w/i the industry as well as the housing market and local economy. BECAUSE of the economic stimulus associated with the technopoles, they often act as…

Answer 36

Growth poles (growth centers)

Question 37

positive economic outcomes beyond the growth pole.

Answer 37

Spin-of benefits (spread effects)

Question 38

negative effects on one region that results from economic growth in another region

Answer 38

Backwash effects

Question 39

sites of abandoned factories

Answer 39

Brownfields

Question 40

northease and lands around the Great Lakes

Answer 40

Rust Belts

Question 41

where they can take advantage of agglomeration economies.

Answer 41

Corporate parks (business parks)

Question 42

using the earth’s resources without doing permanent damage to the environment

Answer 42

Sustainability

Question 43

address problems caused by depletion of natural resources, mass consumption of goods, pollution of air and water, and the impact of climate change.

Answer 43

Sustainable development

Question 44

people with more wealth have a larger… Or imapct on the environment. How much land is needed to provide one person with resources and to handle the person’s garbage.

Answer 44

Ecological footprint

Question 45

travel to a region by people who are interested in its distinctive and unusual ecosystem.

Answer 45

Ecotourism

Question 46

intended to finish the job that the MDG has begun, but with more awareness of environmental challenges and ways to overcome them.

Answer 46

Sustainable Development Goals