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US Human Geography > Unit 7: Economic Geography > Flashcards

Unit 7: Economic Geography Flashcards

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1
Q

agglomeration

A

grouping together of many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labor resources
ex: Silicon Valley

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2
Q

break-of-bulk point

A

a location where transfer is possible from one mode of transportation to another
ex: sea port or airport

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3
Q

climate change

A

a result of human activity that has profound implications for our environmental quality
ex: melting snow caps or deforestation

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4
Q

commodity dependence

A

when a country becomes so dependent on a commodity that it makes up a large share of the country’s exports; when the price of the commodity drops, the economy is severely affected
ex: Benin, Chad and Mali - cotton

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5
Q

comparative advantage

A

the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers
ex: China vs US - cost of labor

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6
Q

complementarity advantage

A

when two regions specifically satisfy each other’s needs through exchange of raw materials and or finished goods
ex: US and Mexico

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7
Q

core-periphery relationship

A

describes how economic, political, and cultural power is spatially distributed between dominant core regions, and more marginal or dependent semi peripheral and peripheral regions
ex: Brazil golden triangle

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8
Q

deindustrialization

A

a process by which companies move industrial jobs to other regions with cheaper labor
ex: Rust Belt

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9
Q

dependency theory

A

the notion that resources flow from a “periphery” of poor and underdeveloped states to a “core” of wealthy states, enriching the latter at the expense of the former
ex: loans compounded interest Africa

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10
Q

economic restructuring

A 
the process in which economies move from a blue-collar industrial base, especially around heavy industry and factories, into more of a white-collar service sector
ex: typical in most major American cities, which has produced a thinner middle class and more menial jobs
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11
Q

economies of scale

A

the savings in cost per unit due to increasing the level of production
ex: Fordism

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12
Q

ecotourism

A

a form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way
ex: Belize

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13
Q

employment opportunities

A

the act of employing or state of being employed in various specialties of the workforce
ex: Education and Training, Government and Public Administration, Hospitality and Tourism, Information Technology

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14
Q

equity in wages

A

sameness regarding job compensation based on gender or other discriminative factors
ex: wage gap for women

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15
Q

European Union

A

union of European countries based to promote development within the member states through economic cooperation
ex: France, Germany, Greece, Hungary

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16
Q

export-processing zones

A

areas that provide incentives for foreign companies to conduct their business in developing regions and provide benefits to the developing world in the form of foreign investments and improved employment opportunities
ex: Bangladesh, Pakistan and Sri Lanka

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17
Q

fordist methods

A

form of mass production in which each worker is assigned one specific task to perform repeatedly
ex: Third Italy

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18
Q

formal economy

A

the legal economy that is taxed and monitored by a government and is included in a governments gross national product; as opposed to an informal economy
ex: set hours, monthly wages, healthy working conditions, pay taxes

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19
Q

fossil fuels

A

an energy source formed from the residue of plants and animals buried millions of years ago
ex: coal, crude oil, and natural gas

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20
Q

free trade agreements

A

where there are no import tariffs or quotas on products from one country entering another
ex: NAFTA, EFTA

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21
Q

free-trade zones

A

special zones in which all trade barriers between two countries are eliminated
ex: Hong Kong, Singapore, Panama, Copenhagen, Stockholm

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22
Q

Gender Inequality Index

A

index that shows the loss in potential human development due to disparity between female and male achievements in three dimensions: reproductive health, empowerment and the labor market
ex: reflects the disadvantage of women

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23
Q

gender parity

A

a statistical measure that provides a numerical value of female-to-male or girl-to-boy ratio for indicators
ex: income/education ratios

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24
Q

geography of uneven development

A

development takes place at different rates in different regions
ex: UK and France

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25
Q

global Financial Crisis of 2007-2008

A

a global economic downturn that devastated world financial markets as well as the banking and real estate industries resulting in mortgage foreclosures worldwide, lost savings, jobs and homes
ex: subprime mortgage crisis

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26
Q

globalization

A

the process by which businesses or other organizations develop international influence or start operating on an international scale
ex: McDonalds, Coca-Cola

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27
Q

Gross Domestic Product

A

the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period
ex: Real, Nominal, Net

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28
Q

Gross National Income per capita

A

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

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29
Q

Gross National Product

A

the total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments
ex: GNP of the United States is $250 billion higher than its GDP

30
Q

growth poles

A

the concentration of highly innovative and technically advanced industries that stimulate economic development in linked businesses and industries
ex: Paris

31
Q

high technology industries

A

industries having high concentrations of workers in STEM (Science, Technology, Engineering, and Mathematics) occupations
ex: telecom and networking

32
Q

Human Development Index

A

a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable and have a decent standard of living
ex: developed by Mahbub ul Haq

33
Q

income distribution

A

the equality with which income is dealt out among members of a society
ex: if the CEO earns $10,000,000 per year and average worker’s pay is $50,000, the wage ratio is 200:1

34
Q

The Industrial Revolution

A

the process of change from an agrarian and handicraft economy to one dominated by industry and machine manufacturing
ex: telephone, the steam engine, the sewing machine

35
Q

informal economy

A

the diversified set of economic activities, enterprises, jobs, and workers that are not regulated or protected by the state
ex: home renovations, car repairs

36
Q

interdependence (in world economy)

A

a system by which many companies and nations are economically dependent upon each other
ex: results in globalization

37
Q

international division of labor

A

the conception of economic production as intrinsically transnational and as intrinsically interdependent on labor power based in different places
ex: low-paid labor for more intensive jobs such as coffee bean picking

38
Q

International Monetary Fund (IMF)

A

an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world
ex: fiscal or foreign exchange reserve targets

39
Q

just-in-time delivery

A

an inventory management strategy that helps facilitate speedier order fulfillment with particular applications in raw materials orders and manufacturing, beginning when a customer placed an order, and inventory stock is only delivered as-needed
ex: the seating interior of cars

40
Q

labor-market participation

A

the proportion of the working-age population that is either working or actively looking for work
ex: labor force/population

41
Q

least cost theory

A

the location of a processing plant will in an area that ensures. the lowest cost of moving raw materials to the processing plant and moving the finished
ex: google industry because they are located in a place with agglomeration, causing a lot of customers to emerge

42
Q

literacy rates

A

the percentage of population aged 15 years and over who can both read and write with understanding a short simple statement on his/her everyday life
ex: younger generations are more likely to be literate than older generations

43
Q

mass consumption

A

the use or purchase of goods or services by a large number of people
ex: McDonald’s, the Gap, Apple

44
Q

Mercosur

A

promote a common space that generates business and investment opportunities through the competitive integration of national economies into the international market
ex: Argentina, Brazil, Paraguay, Uruguay, and Venezuela

45
Q

microloans/microlending

A

a form of financing that provides small amounts of money to typically very poor fledgling entrepreneurs to encourage self-sufficiency and to end poverty – particularly in developing countries
ex: SBA Microloan Program

46
Q

multiplier effects

A

a phenomenon whereby a given change in a particular input, such as government spending, causes a larger change in an output, such as gross domestic product
ex: if consumers save 20% of new income and spend the rest then their MPC would be 0.8 {1 - 0.2}. The multiplier would be 1 ÷ (1 - 0.8) = 5. So, every new dollar creates extra spending of $5

47
Q

natural resource depletion

A

the part of the harvest, logging, catch and so forth above the sustainable level of the resource stock
ex: deforestation, soil degradation, and overfishing

48
Q

neoliberalism

A

a political approach that favors free-market capitalism, deregulation, and reduction in government spending
ex: economic liberalization, including privatization, deregulation

49
Q

Newly Industrialized Countries (NICs)

A

a term used by political scientists and economists to describe a country whose level of economic development ranks it somewhere between developing and highly developed classifications
ex: India, Singapore, Taiwan

50
Q

OPEC

A

an organization founded in 1960 of nations that export large amounts of petroleum: formed to establish oil-exporting policies and set prices
ex: Algeria, Angola, Equatorial Guinea

51
Q

outsourcing

A

obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source
ex: human resource management, facilities management, supply chain management

52
Q

post-fordist methods

A

the idea that modern industrial production has moved away from mass production in huge factories, as pioneered by Henry Ford, towards specialized markets based on small flexible manufacturing units
ex: Taylorist ideas of labour specialization

53
Q

primary sector

A

activities based directly on natural resources

ex: farming, logging, hunting, fishing, and mining

54
Q

public transportation projects

A

a public project in development or under construction to provide a new transportation facility or to improve or maintain the existing system of state highways
ex: La Línea Tunnel

55
Q

quaternary sector

A

economic activity that is associated with either the intellectual or knowledge-based economy
ex: computing, ICT, consultancy

56
Q

quinary sector

A

sector of industry suggested by some economists as comprising health, education, culture, research, police, fire service, and other government industries not intended to make a profit
ex: teacher, policeman, fireman

57
Q

raw materials

A

materials or substances used in the primary production or manufacturing of goods
ex: lumber

58
Q

renewable energy

A

energy from a source that is not depleted when used

ex: solar or wind energy

59
Q

reproductive health

A

a state of complete physical, mental and social well-being and not merely the absence of disease or infirmity, in all matters relating to the reproductive system and to its functions and processes
ex: endometriosis, pcos

60
Q

Rostow’s Stages of Economic Growth

A

five steps through which all countries must pass to become developed: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity and 5) age of high mass consumption
ex: Britain, USA, Germany, Japan, and Canada

61
Q

secondary sector

A

the sector of the economy concerned with or relating to primary industry
ex: Construction sector, manufacturing and utilities

62
Q

small local businesses

A

a privately owned corporation, partnership, or sole proprietorship that has fewer employees and less annual revenue than a corporation or regular-sized business
ex: Catering Services, Website Design, Business Consulting

63
Q

special economic zones

A

a designated area in a country that is subject to unique economic regulations that differ from other areas in the same country
ex: free trade zones, export-processing zones, industrial parks

64
Q

standard of living

A

the degree of wealth and material comfort available to a person or community
ex: Class disparity. Poverty rate, Quality and affordability of housing

65
Q

tariffs

A

a tax imposed by one country on the goods and services imported from another country
ex: 2002 steel tariff

66
Q

tertiary sector

A

a wide range of activities from commerce to administration, transport, financial and real estate activities, business and personal services, education, health and social work
ex: Telecommunication, Hospitality industry/tourism, Mass media

67
Q

UN Sustainable Development Goals

A

the blueprint to achieve a better and more sustainable future for all. They address the global challenges we face, including poverty, inequality, climate change, environmental degradation, peace and justice. Learn more and take action
ex: No Poverty, Zero Hunger, Good Health and Well-being

68
Q

Wallerstein’s World System Theory

A

an approach to world history and social change that suggests there is a world economic system in which some countries benefit while others are exploited
ex: emphasizes the social structure of global inequality

69
Q

women’s empowerment

A

promoting women’s sense of self-worth, their ability to determine their own choices, and their right to influence social change for themselves and others
ex: feminism

70
Q

World Trade Organization

A

the only global international organization dealing with the rules of trade between nations
ex: lowered trade barriers and increased trade among member countries

US Human Geography (5 decks)

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