AP Human Geography Ch.9 Vocab
Terms in this set (38)
A process involving the clustering or concentrating of people or activities. The term often refers to manufacturing plants and businesses that benefit from close proximity because they share skilled-labor pools and technological and financial amenities.
The savings to an individual enterprise derived from locational association with a cluster of other similar economic activities, such as other factories or retail stores
Taiwan, Singapore, Hong Kong, and South Korea. These nations have experienced rapid economic growth and prosperity due to industrialization, and were aligned both politically, and economically with the West throughout the Cold War
Industries that sell their products or services primarily to consumers outside the settlement.
Industries that sell their products primarily to consumers in the community.
divides the more developed north from the less developed south
ability to produce a good at a lower opportunity cost than another producer
economic patterns established with Industrial Revolution and European colonialism still exist today; attempts to explain why LDCs rely too much on MDCs
A process of improvement in the material conditions of people through diffusion of knowledge and technology.
a country in which the society is less modern and less industrialized and in which inhabitants are generally poorer than they are in developed countries
Statistics that provide information about the performance of the economy and its position in the business cycle.
Progress in an economy, or the qualitativemeasure of this. Economic development usually refers to the adoption of new technologies, transition from agriculture-based to industry-based economy, and general improvement in living standards
Alternative to international trade that emphasizes small businesses and worker owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organizing, and comply with minimum environmental and safety standards.
FDI (Foreign Direct Investment)
is the purchase by the investors or corporations of one country of non-financial assets in another country. This involves a flow of capital from one country to another to build a factory, purchase a business or buy real estate."
GDI (Gender Development Index)
A way to measure gender inequality. The higher the GDI, the higher the equality between women and men.
GDP (Gross Domestic Product)
the total market value of all final goods and services produced annually in an economy
GNP (Gross National Product )
the sum of all goods and services produced in a nation in a year
Actions or processes that involve the entire world and result in making something worldwide in scope
HDI (Human Development Index)
Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy
The part of national economy that involves productive labor not subject to formal systems of control or payment; economic activity or individual enterprise operating without official recognition or measured by official statistics.
LDC (Less Developed 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 tendency of an economic activity to locate close to its market; a reflection of large and variable distribution costs.
MDC (More Developed Country)
A country that has progressed relatively far along a continuum of development
Millennium Development Goals
eight goals established by the United Nations to reduce disparities between more developed countries and less developed countries
A disparaging reference to economic and political policies by which major developed countries are seen to retain or extend influence over the economies of less developed countries and peoples.
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.
Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services.
Rostow's "Modernization Model"
countries develop through five stages:
Stage 1: Traditional
Stage 2: Preconditions for takeoff
Stage 3: Takeoff
Stage 4: Drive to Maturity
Stage 5: Age of Mass Consumption
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
Any farm economy in which most crops are grown for family or local consumption
Stuctural Adjustment Program
Economic polocies imposed on less developed countries by international agencies to create conditions encouraging international trade, such as raising taxes, reducing government spending, controling inflation, selling publicly owned utilities to private corporations, and charging citizens more for services
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.
A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.
is a marketing phenomenon that affects many consumer goods. Initially a product may be so expensive that only the wealthy can afford it. Over time, however, the price will fall until it is inexpensive enough for the general public to purchase.
the gross value of the product minus the costs of raw materials and energy.
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