the industrial revolution is a time period in which a country starts to rely on machinary to do simple tasks, then escalates to bigger jobs
least cost theroy
the lowest cost of an matreial be ship out base on the theroy of Alfred Webber, in which the two companies travel closer and closer until they are next to each other. From there is where the real competitiveness starts.
A key in Weber's theory of the location of manufacturing. Goods may be categorized into three different types depending on the ratio of the weight of localized raw materials to the weight of the finished product. If that ratio is greater than 1.0 it is a gross good, if equal to 1.0 it is a pure good, and if less than 1.0 it is a ubiquitous good. If the weight of the raw material is higher, the factory must be located closer to the source, but if the weight of the finished product is higher, the factory should be closer to the market.
An area that is completely seperated from the rest of the industry.
this model is simalar to the least cost theroy model, only it shows the theroy using ice cream vendors on a beach.
A model of economic development most closely associated with the work of economist Walter Rostow. The modernization model (sometimes referred to as modernization theory) maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption.
A structuralist theory that offers a critique of the modernization model of development. Based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop.
this model shows the liberal (optimistic) side, and the structuralist (pessimistic) side, in which both sides give their input on if a country will ever reach a developed stage like the United States of America
World Systems Theory
Wallersteins theory of the core, semi periphery, periphery, and external areas. The core benefited the most from the development of a capitalist world economy. Semi perihpery was the buffer between the core and periphery. Periphery are states that lack strong central gov'ts or are controlled by other states. External areas are states that mainteained their own economic system and for the mosr part, remianed outside of the capitalist world economy.
A highly organized and specialized system for organizing industrial production and labor. Named after automobile producer Henry Ford, Forist production features assembly-line production of standardized components for fast mass consumption.
industries where the raw material from the primary industries is transformed into other products, or given to tetrary industries
Principle that maintains that the correct location of a production facility is where the net profit is the greatest. Therefore in industry, there is a tendency to substitute one factor of production (e.g., labor) for another (e.g., capital for automated equipment) in order to achieve optimum plant location. This is what can lead to an industrial revolution.
is where transportation is changed from one type to another, but the first type is shipping faster then the second type is retriving them.
the ability to produce a product most efficiently given all the other products that could be produced
urban center with certain attributes that in augmented by a measure of investement support, will stimulate regional economic development in its hinterlands and pripherial areas
Primary industrial regions
Western and Central Europe; Eastern North America; Russia and Ukrane; and Eastern Asia, each of which consists of one or more core areas of industrial development with subsidiary clusters
Secondary industrial regions
states and regions that have been intensely developing and urbanizing in recent decades; typically represent more semi-peripheral economies (e.g., Mexico, Brazil, South Africa, Egypt, India, Australia,...).
a company that locates its headquarders in and around the mexican border, so that they can get cheap labor and wont have to pay american taxes
North American Free-Trade Agreement. A trade agreement between Canada, the United States and Mexico that encourages free trade between these North American countries.
Special Economic Zones
It began in 1979, the Chinese government set up these zones on the coast near Macao, Hong Kong and Taiwan. Improved transportation, lower taxes, and other incentives attracted investments from foreign businesses. They helped stimulate innovation and helped China grow economically. now, it can happen anywhere in the world.
Businesses with vast holdings in many countries, many of which have annual budgets exceeding that of many foreign governments.
New Industrial Countries
NICs are countries whose economies have not yet reached first world status but have, in a macroeconomic sense, outpaced their developing counterparts. Another characterization of NICs is that of nations undergoing rapid economic growth (usually export-oriented). Incipient or ongoing industrialization is an important indicator of a NIC. In many NICs, social upheaval can occur as primarily rural, agricultural populations migrate to the cities, where the growth of manufacturing concerns and factories can draw many thousands of laborers.
Nonprofit international organizations devoted to investigating human rights abuses and providing humanitarian relief. Two NGOs won the Nobel Peace Prize in the 1990s: International Campaign to Ban Landmines and Doctors Without Borders
The Four Tigers
this refers to the economies of Taiwan, Singapore, Hong Kong, and South Korea.
act of improving by expanding or enlarging or refining
the dominance of one area over another by economic means, rather than the political means primarily seen in the colonial era in Europe.
growth to a global or worldwide scale
Foreign Direct Investment
a joint venture between a foreign company and a United States company
Manufacturing export zones
a new economic conentration that attracts manufacturing by offering tax, regulatory, and trade arrangements to foreign firms
New international division of labor
To transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less developed countries.
Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established
the social and psycological effects of living in a world in which time-space convergence has rapidly reached a high level of intensity
the social and psycological effects of combining a world in which time and space equal 1.0
Human Development Index
a measure of quality of life using life expectancy, child survival, adult literacy, childhood education, gender equity and access to clan water and sanitation as well as income, in order to prove whether a country is developing or not.
Purchasing Power Parity
a measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country
Industry that locate in a wide variety of places without a significant change in its cost of transportation, land, labor, and capital.
the act of collecting in a mass
The process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition.
The procuring of services or products, such as the parts used in manufacturing a motor vehicle, from an outside supplier or manufacturer in order to cut costs
Costs that, in total, vary in direct proportion to changes in output within the relevant range.
the interrelation of reciprocity whereby one thing supplements or depends on the other
Modernization Model: a liberal model that postulates that economic modernization occurs in five basic stages: 1)Traditional society 2)Precondition for takeoff...