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AP Human Geography Chapter 9
Terms in this set (35)
Refers to benefits or advanages (savings, cost reductions, etc.) resulting from the spatial clustering of activites and/or people
A distinction made in economic base analysis that describes a service business sector that offers its products primarily within a particular region
ex. pattern and model making shops in the Detroit Are supports local automobile industry
Industrial sector which exports all or nearly all of its production. As a result of their foreign exchange earnings, create new incomes and additional spending power in their country's economy. Any changes will have a big effect on economy
Line that divides the North and the South hemisphere. Divides the more developed regions and 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
States that LDCs tend to have a higher dependency ratio, the ratio of the number of people under 15 or over 64 to the number in the labor force.
A country that is poor and whose citizens are mostly agricultural workers but that wants to become more advanced socially and economically
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. (Consumer Price Index (CPI), Gross Domestic Product (GDP), unemploymet figures and the price of crude oil)
Progress in an economy, or the qualitative measure of this. Usually refers to the adoption of new technologies, transition from agriculture-based to industry-based economy and general improvement in living standards.
Gender Empowerment Index (GEM or GMI)
COmpares the ability of women and men to participate in economic and political decision making.
Gross Domestic Product (GDP)
the value of the total number of goods and services produced in a country in a given time period (normally one year)
Gross National Product (GNP)
An economic statistic that includes GDP, plus any income earned by residents from overseas investments, minus income earned within the domestic economy by overseas residents
Gender Development Index (GDI)
Compares the level of development of women with that of both sexes
Human Development Index (HDI)
Indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy.
Development strategy whereby as LDC tries to develop its own indestries instead of importing manufactured goods from MDCs
State of not requiring any aid, support, or interaction, for survival; it is therefore a type of personal or collective autonomy
Less Developed Country (LDC)
Also known as a 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
A business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or ants of customers
More Developed Country (MDC)
Also known as a relatively developed country or a developed country a country that has progressed relatively far along as continuum of development
Refers to the economic control that MDCs are sometimes believed to have over LDCs. Through organizations such as the IMF, the MDCs are able to dictate precisely what LDCs economic policies are, or are able to use their economic subsidies to put LDCs industries out of business.
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 foresty
The value of a particular product compared to the amount of labor needed to make it
Purchasing Power Parity (PPP)
An index of income related to GDP. Unlike GDP however, PPP takes into account price differences between countries. Usually goods in LDCs are priced lower, so this makes the difference between LDCs and MDCs less.
The portion of an economy that is based on knowledge applicable to some business activity that usually involves the provision of services.
ex. information gathering, distribution and technology, research and development
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"
Linear theory of development that developed countries got through a common pattern of structural change (1. Traditional Society 2. Transitional Stage 3. Take off 4. Drive to Maturity 5. High Mass Consumption)
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials
Economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade, such as raising taxes, reducing government spending, controlling inflation, selling publicly owned utilities to private corporations, and charging citizens more for services.
An economy which is not based on money, in which buying and selling an absent or rudimentary though barter may occur, and which commonly provides a minimal standard of living
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
When the company of one country enters the economy of another country (GNP)
ex. stock market transnational or plantation
THIS SET IS OFTEN IN FOLDERS WITH...
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