11 terms

Ap human extra


Terms in this set (...)

Value added
The amount of productivity by each worker
Substitution principle
Idea that suggests business can jungle expenses as long as labor, land rents, transportation and other costs don't all go up at one time.
Location factor that is the price paid to produce the good to the workers
When a group of similar industries are located together and then due to a rise in labor and transportation costs break apart and go to different locations.
Secondary industry
Industry less dependent on resource location
Economic geography
The study of the impact of financial activities on the landscape and the resins behind location of business activities
Alfred Webber
Developed a model for the location of secondary industries
Location factor that goes up the farther the factor is from the raw material
Per capita
Average persons contribution to a category in GIVE year
Dependency theory
Theory that holds economic development of many countries in the world is blocked by the fact that industrialized nations exploit them
Core countries
Countries that take raw materials and channel the wealth to North America, Europe, Australia, and Japan through multinational corporations: exploit beneath them.