CHS Titan-Economic Development, CHS Titan- Industry
Terms in this set (65)
series of links connecting the many places of production and distribution and resulting in a commodity that is on world market
export processing zone
Zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment.
When a previously colonized country has become politically independent but remains economically dependent on exporting the same commodities as it did during its colonization.
The term given to zones in northern Mexico with factories supplying manufactured goods to the U.S. market. The low-wage workers in the primarily foreign-owned factories assemble imported components and/or raw materials and then export finished goods.
Gross national Product
The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year.
Gross Domestic Product
The dollar amount of all final goods and services produced within a country's borders in a year.
Gross National Income
The total value of goods and services produced by a country per year plus net income earned abroad by its nationals; formerly called "gross national product."
Per Capita income
The total national income divided by the number of people in the nation
The legal economy that is taxed and monitored by a government and is included in a government's Gross National Product
Economic activity that is neither taxed nor monitored by a government; and is not included in that government's Gross National Product;
model of economic development maintains that all countries go through five stages of development
Creator of the Modernization model, in which a country's stages of growth is determined.
A general term for models of economic development that treat economic disparities among countries or regions as the result of historically derived power relations within the global economic system.
A model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones
World Systems theory
(Immanuel Wallerstein) illuminated by a three-tier structure (core, semi-periphery, periphery); refers to perspective that seeks to explain the dynamics of the "capitalist world economy" as a "total social system". Important because explains the power hierarchy in which powerful and wealthy "core" societies dominate and exploit weak and poor peripheral societies.
Three- tier structure
with reference to Immanuel Wallerstein's world-systems theory, the division of the world into the core, the periphery, and the semi-periphery as a means to help explain the interconnections between places in the global econom
A specialized agency of the United Nations that makes loans to countries for economic development, trade promotion, and debt consolidation. Its formal name is the International Bank for Reconstruction and Development.
International Monetary Fund
An international organization of 183 countries, established in 1947 with the goal of promoting cooperation and exchange between nations, and to aid the growth of international trade.
Special Economic Zones
specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment, 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.
North American Free Trade Agreement
Agreement entered into by Canada, Mexico, and the United States in December 1992 and which took effect on January 1, 1994 to eliminate the barriers to trade in, and facilitate the cross-border movement of goods and services between the countries.
Island of Development
place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure
Human Development Index
Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy
The use of very small loans to small groups of individuals, often women, to stimulate economic development, a small loan available to poor entrepreneurs, to help small businesses grow and raise the standard of living
A group working to resolve international problems which is not directed, paid, or sponsored by any government., Term used to refer to private organizations like the Red Cross that plays a late role in international affairs. Many were for human rights or highlighted environmental issues. Others were for was relief and we active in peacetime, sheltering the homeless or providing food for famine victims. They pressured the government to make necessary changes.
Gender Inequality Index
a measure that captures the loss in achievements due to gender disparities in the dimensions of reproductive health, empowerment and labour force participation. values range from 0(perfect equality)-1(total inequality)
Structural adjustment loans
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.
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
sociologist, Columbia. "The Modern World System"and "World Systems Theory". says the world economy is made up of a complex network of exchanges and interchanges, says by 19th century every area of earth has been incorporated into this structure, every placed touched by capitalism but capitalism is not homogeneous
UN Millennial Goals
Eradicate extreme poverty and hunger,Achieve universal primary education,Promote gender equality and
empower women,Reduce child mortality,Improve maternal health,Combat
other diseases,Ensure environmental sustainability,Develop a global partnership for development
Model that refers to economy of a state that does not require any outside aid, support, or interaction, for survival
a logical attempt to explain the locational pattern of economic activities & the manner in which its producing areas are interrelated
Costs that change directly with the amount of production (e.g. energy supply and labor costs).
Friction of Distance
The increase in time and cost that usually comes with increasing distance
Weber Least Cost Theory
Minimize transportation cost, minimize labor costs, and Maximize Economies of Agglomeration.
German geographer who was a major theorists of industrial location. He devised a model of how to understand industrial locations in regard to several factors, including labor supply, markets, resource location, and transpiration.
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 process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition.
Break of Bulk point
A location along a transport route where goods must be transferred from one carrier to another. In a port, the cargoes of oceangoing ships are unloaded and put on trains, trucks, or perhaps smaller riverboats for inland distribution.
Form of mass production in which each worker is assigned one specific task to perform repeatedly. Developed by Henry Ford.
World economic system characterized by a more flexible set of production practices in which goods are not mass produced; instead, production has been accelerated and dispersed around the globe by multinational companies that shift production, outsourcing it around the world and bringing places closer together in time and space than would have been imaginable at the beginning of the 20th century
Just in time delivery
Method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production, planning that what they need for longer-term production will arrive when needed.
Global Division of Labor
phenomenon whereby corporations and others can draw from labor markets around the world, make possible by the compression of time and space through innovation in communication and transportation systems
places where 2 or more modes of transportation meet in order to ease the flow of goods and reduce the cost of transportation.
Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established.
International division of Labor
Spatial distribution of labor globally in which industry often relocates from MDCs to LDCs due to low labor costs in LDCs.
combining many firms engaged in the same type of business into one large corporation, A parent company that owns multiple companies at the same stage of the film industry (smaller company owned by the parent is a subsidiary)
a corprate expansion strategy that involves controlling each step in the production and distribution of a product, from acquiring raw materials to manufacturing packaging and shipping
Locational Interdependence Model
Theory developed by economist Harold Hotelling that suggests competitors, in trying to maximize sales, will seek to constrain each other's territory as much as possible which will therefore lead them to locate adjacent to one another in the middle of their collective customer base.
Zone of Profitability Model
A model of central places developed by A. Lösch (1954)a logical attempt to explain the locational pattern of economic activities & the manner in which its producing areas are interrelated
bulk reducing industries
An industry in which the final product weighs less or comprises a lower volume than the inputs.
bulk gaining industries
Industries whose products weigh more after assembly than they did previously in their constituent parts. Such industries tend to have production facilities close to their markets.
Capitalist world economy
a single world system committed to production for sale or exchange, with the object of maximizing profits, rather than supplying domestic needs
rapid econmoc and political change that transformed the country into a stable nation with democatizing political institution, a frowing economy, and an expanding web of nongovernmental institutions
Industry that locate in a wide variety of places without a significant change in its cost of transportation, land, labor, and capital.
Fundamental facilities and systems serving a country, city, or area, as transportation and communication systems, power plants, and schools
North American Free Trade Agreement
An economic pact that combined the economies of the United States, Canada, and Mexico into one of the world's largest trading blocs.
Primary Economic Activities
economic activity concerned with the direct extraction of natural resources from the environment-- such as mining, fishing, lumbering, and especially agriculture
Secondary Economic Activities
Economic activity involving the processing of raw materials and their transformation into finished industrial products; the manufacturing sector
Tertiary Economic Activity
Economic activity associated with the provision of services - such as transportation, banking, retailing, education, and routine office-based jobs.
Quaternary Economic Activities
Any economic activity pertaining to the collection, processing, and manipulation of information, capital, and culture - finance, government, insurance, legal services, etc.
Quinary Economic Activities
service sector industries that require a high level of specialized knowledge skill (scientific research, high-level management)
Value added productivity
the gross value of the product minus the costs of raw materials and energy
Media executives, news editors, &prominent reporters who decide what news to present &how it will be presented
A set of informal and formal social ties that links people to each other., Defined by Manuel Castells as a set of interconnected nodes without a center., A set of interconnected nodes without a center
Industries that sell their products or services primarily to consumers outside the settlement