Unit 7, 46 words Flashcards
focuses on the shift from tradition to modern forms of society
Stages of Economic Growth model
In the 1970s, historian Immanuel Wallerstein proposed an alternative model to Rostow’s, which he called…
World Systems Theory
countries do not exist in isolation but are part of an intertwined world system in which all countries are dependent on each other.
Dependency model
raw material such as coffee,cocoa, and oil, that have not undergone any processing.
commodities
when more than 60 percent of its exports are raw materials
Commodity dependence
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.
trade
a system of exchange in which no money changes hands.
barter
ability to produce a good or service at a lower cost than others
comparative advantage
when a country has the income, goods, or service that the another country desires
complementarity
laws that reduced barriers to trade
free trade
a set of reforms that reduced government regulations and taxation
neoliberal policies (neoliberalism)
groups of countries that agree to acommon set of trade rules
trading blocs
southern common market, which includes several south american countries
mercosur
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.
World Trade Organization (WTO)
created in 1945 to aid countries caught in need of financial assistance
IMF
contracting work to noncompany employees or other companies to reduce costs
outsourcing
as with multinational manufacturing, some tertiary and Quaternary sector companies move their back offices to other countries.
offshoring
Returning jobs to business’s home country
reshoring
a changes system of employment in the various economic sectors throughout the world
new international division of labor
activities that creates new wealth for a region are considered…
basic economic activity
does not generate new money for the area. Instead, it allows for re-circulation of the existing money in the area.
Non-basic economic activity
businesses that operate in multiple countries are known as
TNC and MNC
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…
EPZ
specific area within a country in which tax and investment incentives are implemented to attract foreign (and domestic) businesses and investment.
Special economic zones (SEZs)
export-processing cities that exist in northern Mexico, close to the border with the United States.
Maquiladoras
locations where a foreign company can store, warehouse, transfer, or process without additional taxation or duties if goods are exported
. Free-trade zones (FTZs)
one that no longer employs large numbers or people in factories but has people who provide services and process information
Postindustrial economy
in which an item is moved from worker to worker, with each repeatedly performing the same task
assembly line
system of mass production that changed manufacturing and became standard practice across industries. Use of assembly lines became standard practice.
fordism
businesses maximize profit by substituting one factor of production for another, has been applied to the labor force
Substitution principle
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…
Post-Fordist
a system in which the inputs in the assembly processes arrive at the assembly location when they are needed
Just-in-time delivery
the location decision for one factory is dependent upon the location of other related factories
Locational interdependence
the spatial grouping of several businesses to share costs.
Agglomeration economies
a hub for information-based industry and high-tech manufacturing
Technopoles
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…
Growth poles (growth centers)
positive economic outcomes beyond the growth pole.
Spin-of benefits (spread effects)
negative effects on one region that results from economic growth in another region
Backwash effects
sites of abandoned factories
Brownfields
northease and lands around the Great Lakes
Rust Belts
where they can take advantage of agglomeration economies.
Corporate parks (business parks)
using the earth’s resources without doing permanent damage to the environment
Sustainability
address problems caused by depletion of natural resources, mass consumption of goods, pollution of air and water, and the impact of climate change.
Sustainable development
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.
Ecological footprint
travel to a region by people who are interested in its distinctive and unusual ecosystem.
Ecotourism
intended to finish the job that the MDG has begun, but with more awareness of environmental challenges and ways to overcome them.
Sustainable Development Goals
