Ap Human Geography Chapter 9: Economic Development
Terms in this set (28)
Savings which arise from the concentration of industries in urban areas and their location close to linked activities
Industries that sell their products or services primarily to consumers outside the settlement
Industries that sell their product or services primarily to consumers inside the settlement
a line that divides the North and the South. It shows the divide between the more developed regions and the less developed regions.
A situation in which a country, individual, company or region can produce a good at a lower opportunity cost than a competitor.
a body of social science theories, which are predicated on the notion that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.
A nation where the average income is much lower than in industrial nations, where the economy relies on a few export crops, and where farming is conducted by primitive methods. In many developing nations, rapid population growth threatens the supply of food. Developing nations have also been called underdeveloped nations. Most of them are in Africa, Asia, and Latin America.
A piece of economic data, usually of macroeconomic scale, that is used by investors to interpret current or future investment possibilities and judge the overall health of an economy.
Process whereby simple, low-income national economies are transformed into modern industrial economies
Gross National Product
the total monetary value of all final goods and services produced in a country during one year.
A tool developed by the United Nations to measure and rank countries' levels of social and economic development based on four criteria: Life expectancy at birth, mean years of schooling, expected years of schooling and gross national income per capita. The HDI makes it possible to track changes in development levels over time and to compare development levels in different countries.
Government strategy that emphasizes replacement of some agricultural or industrial imports to encourage local production for local consumption, rather than producing for export markets. Import substitutes are meant to generate employment, reduce foreign exchange demand, stimulate innovation, and make the country self-reliant in critical areas such as food, defense, and advanced technology.
(DEVELOPING COUNTRY) A country that is at a relatively early stage in the process of economic development
The percentage of a country's people who can read and write
the idea that companies can create a product and sell its features to an eager buying public is no longer concrete
(RELATIVELY DEVELOPED COUNTRY or DEVELOPING COUNTRY) A country that has progressed relatively far along a continuum of development
the economic and political policies by which a great power indirectly maintains or extends its influence over other areas or people
The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing and forestry
The value of a particular product compared to the amount of labor needed to make it
a way to describe a knowledge-based part of the economy which typically includes services such as information generation and sharing, information technology, consultation, education, research and development, financial planning, and other knowledge-based services.
Raw Material Orientation
The location of the manufacturing plant in relation to the source of raw materials. While most industries would prefer to locate near their markers in order to save the recurring costs of transportation, some industries - especially those that involve a loss of weight, bulk, or perishability in the process of manufacturing - might prefer to locate near their source of raw materials since their material index is much greater than 1.0.
The stimulation of economic growth by growth itself. As secondary industries develop they create a demand for raw materials and goods. Thus, machinery is made from steel and this stimulates steel manufacturing while the development of the steel industry requires more machinery. As manufacturing industry prospers, more jobs arise in service industries.
Rostow's "Modernization Model"
A model that postulates that economic growth occurs in five basic stages, of varying length:
1. Traditional society
2. Preconditions for take-off
4. Drive to maturity
5. Age of High mass consumption
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials
an economy which is not based on money, in which buying and selling are absent or rudimentary though barter may occur, and which commonly provides a minimal standard of living
The level of development that can be maintained in a country without depleting resources to the extent that future generations will be unable to achieve a comparable level of development
The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment
An economic theory which states that investing money in companies and giving them tax breaks is the best way to stimulate the economy.
The gross value of the product minus the costs of raw materials and energy