Unit 7 - Industrial and Economic Development Patterns and Processes Flashcards
Adolescent fertility rate
The number of births per 1,000 women ages 15 to 19.
Demand
The quantity of something that consumers are willing and able to buy.
Developed country( more developed country [MDC] or relatively developed country)
A country that has progressed relatively far along a continuum of development.
Developing country (less developed country [LDC])
A country that is a relatively early stage in the process of economic development.
Development
A process of improvement in the material conditions of people through diffusion of knowledge and technology.
Fair trade
An alternative to international trade that emphasizes small businesses and worker-owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organization, and comply with minimum environmental and safety standards.
Female labor force participation rate
The percentage of women holding full-time jobs outside the home.
Gender Inequality Index (GII)
A measure of the extent of each country’s gender inequality.
Gross domestic product (GDP)
The value of the total output of goods and services produced in a country in a given time period (normally one year).
Gross national income (GNI)
The value of the output of goods and services produced in a country for one year, inkling money that leaves and enter the country.
Human Development Index (HDI)
An indicator of the level of development for each country constructed by the United Nations that is based on income, literacy, education, and life expectancy.
Inequality-adjusted HDI (IHDI)
Modification of the HDI to account for inequality within a country.
Literacy rate
The percentage of a country’s people who can read an write
Maternal mortality ratio
The number of women who die giving birth per 100,000 births.
Microfinance
Provision of small loans and other financial services to individuals and small businesses in developing countries
Millennium Development Goals
Eight international development goals that all members of the Untied Nations have agreed to achieve by 2015
Primary sector
The portion of the economy concerned with the direct extraction of materials from Earth’s surface, generally through agriculture, although sometimes by mining, fishing, and forestry
Productivity
The value of a particular product compared to the amount of labor needed to make it
Purchasing power parity (PPP)
The amount of money needed in one country to purchase the same good and services in another country; PPP adjusts income figures to account for differences among countries in the cost of goods.
Secondary sector
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
Supply
The quantity of something that producers have available for sale.
Tertiary sector
The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people, in exchange for payment
Uneven development
Development of core regions at the expense of those on the periphery.
Break-of-bulk point
A location where transfer is possible from one mode of transportation to another.
Bulk-gaining industry
An industry in which the final product weighs more or comprises a greater volume than the inputs.
Bulk-reducing industry
An industry in which the final product weighs less or comprises a lower volume than the inputs.
cottage industry
Manufacturing based in homes rather than in a factory, commonly found before the Industrial Revolution.
Fordist production
Form of mass production in which each worker is assigned one specific task to perform repeatedly.
greenhouse effect
Anticipated increase in Earth’s temperature, caused by carbon dioxide (emitted by burning fossil fuels) trapping some of the radiation emitted by the surface.
Industrial Revolution
A series of improvements in industrial technology that transformed the process of manufacturing goods.
Just-in-time delivery
Shipment of parts and materials to arrive at a factory moments before they are needed
Labor-intensive industry
An industry for which labor costs comprise a high percentage of total expenses.
New international division of labor
Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less developed countries.
Outsourcing
A decision by a corporation to turn over much of the responsibility for production to independent suppliers.
Post-Fordist Production
Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.
right-to-work laws
A U.S. law that prevents a union and a company from negotiating a contract that requires workers to join the union as a condition of employment.
Site Factors
Location factors related to the costs of factors of production inside the plant, such as land, labor, and capital.
Situation Factors
Location factors related to the transportation of materials into and from a factory.
Vertical Integration
An approach typical of traditional mass production in which a company controls all phases of a highly complex production process.
Quarternary Sector
The portion of the economy concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services
Quinary Sector
Service sector industries that require a high level of specialized knowledge or technical skill. Examples include scientific research and high-level management.
Industrialization
The development of industries for the machine production of goods.
Standards of living
A measurement of prosperity or wealth for the people in a country usually measured in terms of income
Agglomeration
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.
Least Cost Theory
Model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.
Wallerstein’s World Systems Theory
The world economy has one market and a global division of labor. Although the world has multiple states, almost everything takes place within the context of the world economy. The world economy has a three-tier structure.
core country
Countries that dominate trade, control the most advanced technologies, and have high levels of productivity within diversified economies.
semi-periphery
Those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China, and South Africa
periphery countries
The least developed and least powerful nations; often exploited by the core countries as sources of raw materials, cheap labor, and markets
Middle Class
A social class made up of skilled workers, professionals, business people, and wealthy farmers
Working Class
A social class broadly composed of people working in blue-collar, or manual, occupations.
Deindustrialization
a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially of heavy industry or manufacturing industry
Neoliberal policies
Economic policies that are predicated on a minimalist role for the state, assuming the desirability of free markets as the ideal condition not only for economic organization but also for political and social life
Mercosur
An organization that promotes trade and economic cooperation among the southern and eastern countries of South America
Tariff
A tax on imported goods
non-governmental organization (NGO)
Private organizations that pursue activities to relieve suffering, promote the interests of the poor, protect the environment, provide basic social services, or undertake community development.
Ecotourism
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.
Free Trade Zone (FTZ)
a duty-free and tax-exempt industrial park created to attract foreign corporations and create industrial jobs
export processing zones (EPZs)
physical spaces within a country where special regulations benefit foreign-controlled businesses
Complementarity
Trade when both parties have goods or services that the other wants.
Footloose Firm
An industry that can be located anywhere, without consideration for the factors of production.
Globalization
The spread of businesses, products, people and ideas around the world.
Brownfield
A property that has the potential to be a hazardous waste or contaminant.
Backwash Effect
The negative effects on one region that result from economic growth within another region.
Technopole
A hub for information-based industry and high-tech manufacturing.
Dependency Theory
Resources flow from a periphery of poor and less developed states to a core of wealthy states, enriching the latter at the expense of the former.
Economy of Scale
The condition created when the savings in cost per unit increase due to increasing the level of production.
Export Processing Zone
Areas found in many regions of the developing world that provide incentives for foreign companies to conduct their business there.
Ancillary Activities
Economic activities that surround and support large-scale industries.
Gini Coefficient
A measure of the distribution of income across a population.
