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
economic activities that surround and support large-scale industries such as shipping and food service
human-centered; in sustainible developement, this word refers to ideas that focus solely on the needs of people without considering the creatures with whom we share the planet or the ecosystem upon which we depend.
the negative effects on one region that result from economic growth within another region
A location where large shipments of goods are broken up into smaller containers for delivery to local markets.
Brick and Mortar Business
Traditional businesses with actual stores in which trade or retail occurs; It does not exist solely on the internet.
Bulk Gaining Industries
Industries whose products weigh more after assembly than they did previously in their constituent parts. Such industries tend to have production facilities close to their markets.
Bulk Reducing Industries
Industries whose final products weigh less than their constituent parts, and whose processing facilities tend to be located close to sources of raw materials.
a firm that is comprised of many smaller firms that serve several different functions
national or global regions where economic power, in terms of wealth, innovation, and advanced technology, is concentrated
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.
an industry in which the production of goods and services is based in homes, as opposed to factories
The dispersal of an industry that formerly existed in an established agglomeration.
Loss of industrial activity in a region.
The process of economic growth, expansion, or realization of regional resource potential.
web based economic activities
Regions that fail to gain from national economic development.
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.
Export Processing Zone
areas where governments create favorable investments and trading conditions to attract export-oriented industries
areas of the world, usually the economic core, that experience greater levels of connection due to high-speed telecommunications and transportation of technologies
Manufacturing activities in which cost of transporting both raw materials and finished product is not important for determining the location of the firm.
system of standardized mass production attributed to Henry Ford.
overseas business investments made by private companies
a measure of the opportunities given to women compared to men within a given country
The idea that the world is becoming increasingly interconnected on a global scale such that smaller scales of political and economic life are becoming obsolete.
Gross Domestic Product
The total value of goods and services produced within the borders of a country during a specific time period, usually one year.
Gross National Product
The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year.
Human Development Index
measure used by the united nations that calculates development not in terms of money or productivity but in terms of human welfare. the HDI evaluates human welfare based on three parameters: life expectancy, education, and income
The rapid economic and social changes in manufacturing that resulted after the introduction of the factory system to the textile industry in England at the end of the 18th century.
Process of industrial development in which countries evolve economically, from producing basic, primary goods to using modern factories for mass-producing goods. At the highest levels of development, national economies are geared mainly toward the delivery of services and exchange of information.
Those countries including Britain, France, U.S., Russia, Germany, and Japan, that were all at the forefront of industrial production and innovation through the middle of the 20th century. While industry is currently shifting to other countries to take advantage of cheaper labor and more relaxed environmental standards, these countries still account for a large portion of the worlds total industrial output.
Least Cost Theory
A concept developed by alfred wever to describe the optimal location of a manufacturing establishment in a relation to the costs of transport and labor, and the relative advantages fo agglomeration or deglomeration
Least Developed Countries
those countries including countries in Africa, except for South Africa, and parts of South America and Asia, that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living
a region in which manufacturing activities have clustered together. the major US industrial region has historically been in the Great Lakes, which includes the staes of Michigan, Illinois, Indiana, Ohio, New York, and Pennsylvania. industrial regions also exist in southeastern Brazil, central England, around Tokyo, Japan, and elsewhere
Those U.S. firms that have factories just outside the United States/Mexican border in areas that have been specially designated by the Mexican government. In such areas, factories cheaply assemble goods for export back into the United States.
Net national product
A measure of all goods and services produced by a country in a year, including production from its investments abroad, minus the loss or degradation of natural resource capital as a result of productivity.
natural resources that CANNOT be replaced
Offshore financial center
areas that have been specially designed to promote business transactions, and thus have become centers for banking and finance
Sending industrial processes out for external production. The term outsourcing increasingly applies not only to traditional industrial functions, but also to the contracting of service industry functions to companies to overseas locations, where operating costs remain relatively low
Countries that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living. The world economic periphery includes Africa (except for South Africa), parts of South America, and Asia.
Primary economic activities
Economic activities in which natural resources are made available for use or further processing, including mining, agriculture, forestry, and fishing.
a measure of the goods and services produced within a particular country
Purchasing power parity
a monetary measurement of development that takes into account what money buys in different countries
Quaternary economic activities
economic activities concerned with research, information gathering, and administration
Quinary economic activities
The most advanced form of quaternary activities consisting of high-level decision making for large corporations or highlevel scientific research.
process by which specific regions acquire characteristics that differentiate them from within the same country; certain economic activities may dominate in particular regions.
Any natural resource that can replenish itself in a relatively short period of time, usually no longer than the length of a human life
Rostow's stages of development
a model of economic development that sedcribes a country's progression which occcurs in five stages tranforming them from least-developed coutry to most developed country
the manufacturing region in the U.S. that is currently debilitated because many manufacturing firms have relocated to countries offering cheeper labor and relaxed environmental regulation.
Secondary Economic Activities
Economic activities concerned with the processing of raw materials such as manufacturing, construction, and power generation.
Those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China, and Indonesia. Semi-peripheral countries offer their citizens relatively diverse economic opportunities but also have extreme gaps between rich and poor.
highly developed economies that focus on research and development, marketing , tourism, states, and telecommunications
the developing world that does not experience the benefits of high-speed telecommunications and transportation technology
Spatially Fixed Costs
An input cost in manufacturing that remains constant wherever production is located.
Spatially Variable Costs
an input cost in manufacturing that changes significantly from place to place in its total amount and in its relative share of total costs
goods that are not mass-produced but rather assembled individually or in small quantities
The idea that people living today should be able to meet their needs without prohibiting the ability of future generations to do the same.
Tertiary Economic Activities
Activities that provide the market exchange of goods and that bring together consumers and providers of services such as retail, transportation, government, personal, and professional services.
A firm that conducts business in at least two separate countries; also known as multinational corporations.
a group of cities that form an interconnected, internationally dominant system of global control of finance and commerce
Theory developed by Immanuel Wallerstein that explains the emergence of a core, periphery, and semi-periphery in terms of economic and political connections first established at the beginning of exploration in the late 15th century and maintained through increased economic access up until the present.