Unit 5

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Agricultural labor force

refers to services performed on a farm for an employing unit that is connected to cultivating soil

Calorie Consumption

a measure of how many calories you should eat

Core

countries with higher levels of technology, education, and money per capita

Periphery

countries with lower levels of technology, education, and money per capita

Cultural Convergence

the trends of disparate cultures to integrate and at the same time, retain their unique characteristics

Dependency Theory

certain types of political and economic relations between countries and regions of the world

Development

improvements in technology and production as well as improvements in the social and economic welfare of people

Energy Consumption

The amount of energy consumed in the form in which it is acquired by the user

Foreign Direct Investment

measure of foreign ownership of productive assets, such as factories

Gender

social differences between men and women

Gross Domestic Product

values of goods and service produced within a country during a given year

Gross National Product

total value of the officially recorded goods and services produced by a country in a given year

Human Development Index

an index used to rank countries by level of "human development", which usually also implies whether a country is developed, developing, or underdeveloped.

Levels of development

factors used to measure how a country is progressing

Measures of development

we measure development by all sorts of grids, tallies and etc.

Neocolonialism

the entrenchment of the colonial order, under a new guise

Physical Quality of Life Index

an attempt to measure the quality of life or well-being of a country. The value is the average of three statistics: basic literacy rate, infant mortality, and life expectancy at age one

Purchasing Power Parity

uses the long-term exchange rate of two currencies to equalize their purchasing power

Rostow, W.W. "Stages of Growth" Model/ Traditional

dominant activity is subsistence farming

Stages of Growth 2/Preconditions of takeoff

leadership moves the country towards greater flexibility, openness, and diversification

Stages of Growth 3/Takeoff

country experiences an industrial revolution

Stages of Growth 4/Drive to maturity

international trade expands, modernization is evident, and technologies diffuse

Stages of Growth 5/High mass consumption

country experience high incomes, widespread production of goods and services

Technology gap

an advantage enjoyed by the country that introduces new goods in a market

Technology Transfer

the process of sharing of skills, knowledge, and technologies, to ensure that scientific and technological developments are accessible to a wider range of users

Third World

an underdeveloped country

World Systems Theory

proposes that social change in the developing world is inextricably linked to the economic activities of the developed world

Agglomeration

when a substantial number of enterprises cluster in the same area, and can provide assistance to each other

Agglomeration Economies

used in urban economics to describe the benefits that firms obtain when locating near each other

Aluminum Industry

industry that makes aluminum

Assembly line production

a manufacturing process in which parts are added to a product in a sequential manner, using planned logistics to create a finished product fast

Fordism

refers to various social theories about production

Bid rent Theory

a geographical economic theory that refers to how the price and demand for real estate changes as the distance from the Central Business District decreases

Break-of-bulk point

a location along a transport route where goods must be transferred from one carrier to another

Carrier efficiency

the efficiency of a process that converts chemical potential energy contained in a carrier fuel into kinetic energy or work

Comparative advantage

the ability of a party to produce a particular good or service at a lower opportunity cost than another party

Cumulative causation

A system undergoing positive feedback is unstable, it will tend to spiral out of control as the effect amplifies itself

Deglomeration

occurs when companies and services leave because of the diseconomies of industries' excessive concentration

Deindustrialization

a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region

Economic sectors

the economy includes several sectors, that evolved in successive phases

Economies of scale

the cost advantages that a business obtains due to expansion, factors that cause a producer's average cost per unit to fall as scale is increased

Ecotourism

responsible travel to fragile, pristine, and usually protected areas that strives to be low impact and small scale

Energy resources

are discovered to be hydro, solar, wind, biomass, geothermal, coal, crude oil, natural gas, and ocean-wave motion and are used to produce power

Entrepòt

a trading post where merchandise can be imported and exported without paying import duties

Export processing zone

an area of a country where some normal trade barriers, are eliminated and bureaucratic requirements are lowered in hopes of attracting new business

Fixed costs

business expenses that are not dependent on the activities of the business

Footloose industry

a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport

Four Tigers

the first newly industrialized countries, noted for maintaining exceptionally high growth rates and rapid industrialization

Greenhouse effect

caused by an atmosphere containing gases that absorb and emit infrared radiation

Growth poles

Point within an area where economic growth is concentrated

Heartland

the central region of a country or continent

Rimland

the maritime fringe of a country or continent

Industrial location theory

in which an industry is located where the transportation costs of raw materials and final product is a minimum

Industrial Revolution

rapid development of industry in the early 19th century through the introduction of machines

Infrastructure

the basic structure or features of a system or organization

Least-cost location

marketing the product at the least cost to the consumer

Maquiladora

a factory that imports materials on a duty-free and tariff-free basis for assembly or manufacturing and then re-exports the assembled product

Market orientation

business approach that focuses on identifying and meeting the stated or hidden needs of the customers, through its own or acquired products

Multiplier orientation

the idea that an initial amount of spending leads to increased consumption spending and results in an increase in national income greater than the initial amount of spending

NAFTA

The North American Free Trade Agreement is an agreement signed by the governments of the United States, Canada, and Mexico creating a trilateral trade bloc in North America

Outsourcing

refers to the process of subcontracting to a third-party

Ozone depletion

Destruction of the stratospheric ozone layer which shields the earth from ultraviolet radiation harmful to life

Special economic zones

a geographical region that has economic laws that are more liberal than a country's typical economic laws

Threshold

the starting point for a new state

Range

an area in which something acts or operates or has power or control

Time-Space compression

a term used to describe processes that seem to accelerate the experience of time and reduce the significance of distance

Topocide

the deliberate killing of a place through industrial expansion and change

Transnational corporation

a company whose operations extend beyond the boundaries of the country in which it is registered

Ubiquitous

being everywhere at any given time

Variable costs

expenses that change in proportion to the activity of a business

Alfred Weber

was a German economist, sociologist and theoretician of culture whose work was influential in the development of modern economic geography

Weight-gaining

bodybuilding that increases muscle mass and body weight

Weight- losing

reduction of the total body mass

World cities

a city deemed to be an important node point in the global economic system

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