Unit 8 vocab
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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 | A series of improvements in industrial technology that transformed the process of manufacturing goods. |
| infrastructure | the basic, underlying framework or features of a system or organization. |
| 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 economic activities & the manner in which its producing areas are interrelated |
| secondary industries | Industry dealing with manufacturing or construction. |
| substitution principle | losses in one area may be offset by savings in another (e.g., higher labor costs could be offset by lower taxes). |
| variable cost | a cost that rises or falls depending on how much is produced |
| break-of-bulk | A location along a transport route where goods must be transferred from one carrier to another. |
| 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 |
| 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 |
| primary industrial region | regions that consist of one or more core areas of industrial development with subsidiary clusters some distance away |
| secondary industrial region | regions that consist of one or more core areas of industrial development with subsidiary cluster some distance away |
| special economic zone | Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment. |
| 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 | regions that dominate trade, control the most advanced technologies, and have high levels of productivity within diversified economics |
| 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 |
| development | A process of improvement in the material conditions of people through diffusion of knowledge and technology. |
| 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. |
| liberal model | Assumes all countries will develop eventually. |
| modernization model | model of economic development maintains that all countries go through five stages of development |
| neo-colonialism | The entrenchment of the colonial order, such as trade and investment, under a new guise. |
| peripheral region | poor regions that are dependent in significant ways on the core and do not have as much control over their own affairs |
| Semi-peripheral region | intermediary regions in terms of the hierarchy of power between core regions and peripheral regions. |
| Structuralist model | Believes not all countries will be able to develop. |
| World Systems Theory | economic and political connections that tie the world's countries together |
| Globalization | growth to a global or worldwide scale |
| Fordism | 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 | host country establishes areas with favorable tax and trade arrangements in order to attract foreign manufacturing operations |
| 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 |
| Time-space compression | through processes such as globalization time is accelerated and the significance of space is reduced |
| 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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