unit 7 voacb Flashcards
the tendency of enterprises in the same industry to cluster in the same area
agglomeration
location where it is more economical to break raw materials into smaller units before shipping them further
break-of-bulk point
industry in which the finished goods cost more to transport than the raw materials
bulk-gaining industry
industry in which the raw materials cost more to transport than the finished goods
bulk-reducing industry
an aspect of dependency theory that occurs when more than 60 percent of a country’s exports and economic health are tied to one or two resources
commodity dependence
the relative cost advantage a country or organization has to produce certain goods or services for trade
comparative advantage
the mutual trade relationship that exists between two places based on the supply of raw materials and the demand for finished products or services
complementarity
a preindustrial form of manufacture in which members of families spread out through rural areas worked in their homes to make goods
cottage industry
process by which a country or area reduces industrial activity, particularly in heavy industry and manufacturing
deindustrialization
a theory that describes the development challenges and limitations faced by poorer countries and the political and the economic relationships poorer countries have with richer countries
dependency theory
economics with two distinct distributions of economic activity across the economic sectors
dual economies
collections of industries engaged in similar economic activities based on the creation of raw materials the production of goods, the provision of services or other activites
economic sectors
a form of tourism based on the enjoyment of natural areas that minimizes the impact to the enviornment
ecotourism
on areas within a country that is subject to more favorable regulations (usually including the elimination of tariff(s) to encourage foreign investment and the manufacturing of goods for export
export processing zone (EPZ)
a highly organized and specialized system for industrial production that focuses on efficiency and productivity in mass production; named after Henry Ford
fordism
businesses, enterprises, and other economic activities that have government supervision, monitoring, and protection, and are also taxed
formal sector
a relatively large geographical area within a country in which businesses pay few or no tariffs on goods to encouraghe or faciliate its role in international facilitate its role in international trade.
free trade zone (FTZ)
a measure that calculates gender disparity in the three basic dimensions of human development: health, knowledge, and standard of living
gender development index (GDI)
a measure that calculates inequality based on three categories: reproductive health. empowerment, and labor-market participation
gender inequality index (GII)
the total value of the goods and services produced by a country’s citizens and companies within the country in a year
gross domestic product
the total value of goods and services globally produced by a country in a year divided by the country’s population
gross national income (GNI)
the total value of goods and services produced by a country’s citizens and companies both domestically and internationally
gross national product (GNP)
a place of economic activity clustered around one or more high-growth industries that stimulate economic gain by capitalizing on some special asset
growth pole
the processes involved in the improvement of people’s freedoms, rights, capabilities, choices and material conditions
human development
A measure that determines the overall development of a country by incorporating three key dimensions of human development: life expectancy at birth, access to education measured in expected and mean years of schooling, and standard of living measured by GNI per capita
Human Development Index (HDI)
a collection of manufacturing facilities in a particular area that is typically found in suburbs and is located close to highways to facilitate movement of raw materials and finished products
Industrial Park
any metals, wood or other plant products, animal products, or other substances that are used to make intermediate or finished goods
raw materials
economic sector associated with the production of goods from raw materials, includes manufacturing, processing, and construction
secondary sector
an area within a country that offers more favorable economic regulations (such as tax benefits or no tariffs) to attract foreign businesses
Special Economic Zone (SEZ)
a model that suggest all countries can be categorized on a spectrum from traditional to modern and that to become modern countries need to pass through distinct stages of economic growth in succession
stages of economic growth
economic sector that includes a host of top activities tat involved the transport, storage, marketing and selling of goods or services; also called the service sector
tertiary sector
women’s options and access to participate fully in the social and economic spheres of a society
women’s empowerment
the radical change in manufacturing methods that began in Great Britain that began in the mid 18th century and was marked by the shift small-scale, hand-crafted, muscle-powered production to power-driven mass production
industrial revolution
the process in which the interaction of social and economic factors causes the development of industries on a wide scale
industrialization
an economic activity using machinery on a large scale to process raw materials into products
industry
any part of a country’s economy that is outside of government monitoring or regulation; sometimes called the informal economy
informal sector
a pattern of production and labor in which different country’s are engaged in distinct aspects of production
international division of labor
a system in which goods are delivered as needed so that companies keep in inventory only what is needed for near-term production
just-in-time delivery
rate that measures an economy’s active labor force, calculated by taking the sum of all employed workers divided by the working age population
labor-market participation (LMP)
industrial location theory proposed by Alfred Weber suggesting that businesses locate their facilities in a particular place because that location minimizes the cost of production
least-cost theory
a very small short-term loan with low interest intended to help people in need
microloan
the economic effect in which a change create a larger change, such as when a new manufacturing plant grows the economy by giving rise to more related jobs and services
multiplier effect
beliefs that favor free market capitalism in which trade has no constraints from government
neoliberalism
the condition of one or more aspects of production are move do an organization in another country
offshore outscoring
system focused on small-scale batch production for a specialized market and flexibility that allows for quick response to changes in the market
post-fordism
an economic pattern marked by predominant territory sector employment with a good share to quaternary and quinary jobs
postindustrial economy
economic sector associated with removing or harvesting products from the earth; includes agriculture. fishing, forestry, mining or quarrying, and extracting liquids or gas.
primary sector
economic sector that is a subject to tertiary sector activities that require workers to process and handle information and environmental technology
quaternary sector
economic sector that is a subset of the quaternary sector; involves the very top leader sin government, science, universities, nonprofits, health care, culture, and media.
quinary sector
