Unit 8: Industrialization and Economic Development
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39 terms
Terms | Definitions |
|---|---|
 Friction of distance | the increase in time and cost that usually comes with increasing distance |
| Industrial Revolution | the change from an agricultural to an industrial society and from home manufacturing to factory production. |
| Infrastructure | the stock of basic facilities and capital equipment needed for the functioning of a country or area |
| 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. |
| Location theory | A logical attempt to explain the locational pattern of an economic activity and the manner in which its producing areas are interrelated. |
| Secondary industries | Industries that manufacture goods made from the raw materias provided by the primary sector |
| Substitution principle | In industry, the tendency to substitute one factor of production for another in order to achieve optimum plant location. |
| Variable cost | a cost that rises or falls depending on how much is produced |
| Break-of-bulk | Refers to the transfer of transported cargo from one kind of carrier to another. (ex: boat to train) |
| Comparative advantage | the ability to produce a good at a lower opportunity cost than another producer |
| Growth pole | Industries designed to stimulate growth through the establishment of various supporting industries., a metropolitan area given official health to strengthen its economic development |
| Maquiladora | Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico. |
| NAFTA | North American Free Trade Agreement; allows open trade with US, Mexico, and Canada |
| Primary industrial region | regions that consist of one or more core areas of industrial development with subsidiary clusters some distance away, (West and Central Europe, Eastern and North America, Russia, Ukraine, and East Asia) |
| Secondary industrial region | regions that consist of one or more core areas of industrial development with subsidiary cluster some distance away; Thailand, Malaysia, Indonesia and Vietnam |
| Special Economic Zone (SEZ) | Manufacturing and export center developed to attract foreign investment while spatially limiting capitalism. |
| Core-periphery model | A model of the spatial structure of development in which underdeveloped countries are defined by their dependence on a developed core region. |
| Core region | The centers of economic, political, and/or cultural power within a given territorial entity. |
| Dependency theory | a model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones. |
| Developed country | a modern, industrialized country in which people are generally better educated and healthier and live longer than people in developing countries do |
| Developing country | a country that has low industrial production and little modern technology; poor |
| Development | act of improving by expanding or enlarging or refining |
| Gross national product (GNP) | a measure of the total value of the officially recorded goods and services produced by the citizens and corporations of a country in a given year |
| Liberal model | Model that states that all countries will all reach the same level of development. |
| Modernization model | a model of economic development most closely associated with the work of economist Walter Rostow; sometimes referred to as modernization theory,; model of economic development maintains that all countries go through five stages of development |
| Neo-colonialism | a process of acculturation or cultural imperialism through which forms of industrial, political and economic organization are often imposed on other cultures under the guise of getting aid in the form of technological and industrial "progress," but it can still lead to good things, like bringing needed infrastructure |
| Peripheral region | The least powerful regions and therefore are often marginalized or under the control of both semi-peripheral regions and core regions. |
| Semi-peripheral region | intermediary regions in terms of the hierarchy of power lies between core regions and peripheral regions. |
| Structuralist model | A model that says all countires will never all be at the same level of development. |
| World Systems Theory | Theory originated by Immanuel Wallerstein and illuminated by his three-tier structure, proposing that social change in the developing world is inextricably linked to the economic activities of the developed world. |
| Globalization | growth to a global or worldwide scale |
| Fordism | principles for mass production based on assembly-line techniques, scientific management, mass consumption based on higher wages, and sophisticated advertising techniques,; system of standardized mass production attributed to Henry Ford |
| Foreign direct investment | Investment made by a foreign company in the economy of another country. |
| High-technology corridors | areas alone or near major transportation arteries that are devoted to research, development, and sale of high technology products |
| Manufacturing export zones | a new economic conentration that attracts manufacturing by offering tax, regulatory, and trade arrangements to foreign firms |
| 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. |
| Technopole | Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established. |
| Time-space compression | A term associated with the work of David Harvey that refers to the social and psychological effects of living in a world in which time-space convergence has rapidly reached a high level of intensity. |
| Time-space convergence | the idea that distance between some places is actually shrinking as technolgy enables more rapid communication and increased interaction between those places. |
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