74 terms

Unit 5

Agricultural labor force
refers to services performed on a farm for an employing unit that is connected to cultivating soil
Calorie Consumption
a measure of how many calories you should eat
countries with higher levels of technology, education, and money per capita
countries with lower levels of technology, education, and money per capita
Cultural Convergence
the trends of disparate cultures to integrate and at the same time, retain their unique characteristics
Dependency Theory
certain types of political and economic relations between countries and regions of the world
improvements in technology and production as well as improvements in the social and economic welfare of people
Energy Consumption
The amount of energy consumed in the form in which it is acquired by the user
Foreign Direct Investment
measure of foreign ownership of productive assets, such as factories
social differences between men and women
Gross Domestic Product
values of goods and service produced within a country during a given year
Gross National Product
total value of the officially recorded goods and services produced by a country in a given year
Human Development Index
an index used to rank countries by level of "human development", which usually also implies whether a country is developed, developing, or underdeveloped.
Levels of development
factors used to measure how a country is progressing
Measures of development
we measure development by all sorts of grids, tallies and etc.
the entrenchment of the colonial order, under a new guise
Physical Quality of Life Index
an attempt to measure the quality of life or well-being of a country. The value is the average of three statistics: basic literacy rate, infant mortality, and life expectancy at age one
Purchasing Power Parity
uses the long-term exchange rate of two currencies to equalize their purchasing power
Rostow, W.W. "Stages of Growth" Model/ Traditional
dominant activity is subsistence farming
Stages of Growth 2/Preconditions of takeoff
leadership moves the country towards greater flexibility, openness, and diversification
Stages of Growth 3/Takeoff
country experiences an industrial revolution
Stages of Growth 4/Drive to maturity
international trade expands, modernization is evident, and technologies diffuse
Stages of Growth 5/High mass consumption
country experience high incomes, widespread production of goods and services
Technology gap
an advantage enjoyed by the country that introduces new goods in a market
Technology Transfer
the process of sharing of skills, knowledge, and technologies, to ensure that scientific and technological developments are accessible to a wider range of users
Third World
an underdeveloped country
World Systems Theory
proposes that social change in the developing world is inextricably linked to the economic activities of the developed world
when a substantial number of enterprises cluster in the same area, and can provide assistance to each other
Agglomeration Economies
used in urban economics to describe the benefits that firms obtain when locating near each other
Aluminum Industry
industry that makes aluminum
Assembly line production
a manufacturing process in which parts are added to a product in a sequential manner, using planned logistics to create a finished product fast
refers to various social theories about production
Bid rent Theory
a geographical economic theory that refers to how the price and demand for real estate changes as the distance from the Central Business District decreases
Break-of-bulk point
a location along a transport route where goods must be transferred from one carrier to another
Carrier efficiency
the efficiency of a process that converts chemical potential energy contained in a carrier fuel into kinetic energy or work
Comparative advantage
the ability of a party to produce a particular good or service at a lower opportunity cost than another party
Cumulative causation
A system undergoing positive feedback is unstable, it will tend to spiral out of control as the effect amplifies itself
occurs when companies and services leave because of the diseconomies of industries' excessive concentration
a process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region
Economic sectors
the economy includes several sectors, that evolved in successive phases
Economies of scale
the cost advantages that a business obtains due to expansion, factors that cause a producer's average cost per unit to fall as scale is increased
responsible travel to fragile, pristine, and usually protected areas that strives to be low impact and small scale
Energy resources
are discovered to be hydro, solar, wind, biomass, geothermal, coal, crude oil, natural gas, and ocean-wave motion and are used to produce power
a trading post where merchandise can be imported and exported without paying import duties
Export processing zone
an area of a country where some normal trade barriers, are eliminated and bureaucratic requirements are lowered in hopes of attracting new business
Fixed costs
business expenses that are not dependent on the activities of the business
Footloose industry
a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport
Four Tigers
the first newly industrialized countries, noted for maintaining exceptionally high growth rates and rapid industrialization
Greenhouse effect
caused by an atmosphere containing gases that absorb and emit infrared radiation
Growth poles
Point within an area where economic growth is concentrated
the central region of a country or continent
the maritime fringe of a country or continent
Industrial location theory
in which an industry is located where the transportation costs of raw materials and final product is a minimum
Industrial Revolution
rapid development of industry in the early 19th century through the introduction of machines
the basic structure or features of a system or organization
Least-cost location
marketing the product at the least cost to the consumer
a factory that imports materials on a duty-free and tariff-free basis for assembly or manufacturing and then re-exports the assembled product
Market orientation
business approach that focuses on identifying and meeting the stated or hidden needs of the customers, through its own or acquired products
Multiplier orientation
the idea that an initial amount of spending leads to increased consumption spending and results in an increase in national income greater than the initial amount of spending
The North American Free Trade Agreement is an agreement signed by the governments of the United States, Canada, and Mexico creating a trilateral trade bloc in North America
refers to the process of subcontracting to a third-party
Ozone depletion
Destruction of the stratospheric ozone layer which shields the earth from ultraviolet radiation harmful to life
Special economic zones
a geographical region that has economic laws that are more liberal than a country's typical economic laws
the starting point for a new state
an area in which something acts or operates or has power or control
Time-Space compression
a term used to describe processes that seem to accelerate the experience of time and reduce the significance of distance
the deliberate killing of a place through industrial expansion and change
Transnational corporation
a company whose operations extend beyond the boundaries of the country in which it is registered
being everywhere at any given time
Variable costs
expenses that change in proportion to the activity of a business
Alfred Weber
was a German economist, sociologist and theoretician of culture whose work was influential in the development of modern economic geography
bodybuilding that increases muscle mass and body weight
Weight- losing
reduction of the total body mass
World cities
a city deemed to be an important node point in the global economic system