ap huge unit 6 vocab
Terms in this set (58)
The term applied to the social and economic changes in agriculture, commerce and manufacturing that resulted from technological innovations and specialization in late-eighteenth-century Europe
Location Theory/Industrial Location Theory
A logical attempt to explain the locational pattern of an economic activity and the manner in which its producing areas are interrelated.
Friction of Distance
The increase in time and cost that usually comes with increasing distance.
Weber's Model/Least Cost Theory/Least-cost Location
The location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.
A product that, during production, gains mass.
A product that, during production loses mass.
In the production of a good where one raw material is heavier than the other; the industrial production will be closer to the heavier item
A process involving the clustering or concentrating of people or activities.
A process through which tendencies for economic growth are self-reinforcing; an expression of the multiplier effect, it tends to favor major cities and core regions over less-advantaged peripheral regions.
The economic principle that multiple changes are set in motion by a single event.
The process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition.
An industry's locational choices are heavily influenced by the location of their chief competitors and related industries. In other words, industries do not make isolated decisions on locations without considering where other, related industries exist.
A region with extremely dense industry. It is usually heavily urbanized.
Is a trading post where merchandise can be imported and exported without paying import duties.
Includes South Korea, Hong Kong, Taiwan, and Singapore, each of which is currently experiencing rapid economic growth as a result of its industrial base and the exporting of items to areas like the United States and Europe.
Foreign Direct Investment
Investment made by a foreign company in the economy of another country. The purchase or construction of foreign factories and other fixed assets by transnational corporations; also purchase of or merging with foreign companies
When two regions specifically satisfy each other's needs through exchange of raw materials and or finished goods; or trade amongst nations of equal value
A location along a transport route where goods must be transferred from one carrier to another.
A highly organized and specialized system for organizing industrial production and labor. features assembly-line production of standardized components for mass consumption.
Production processes that employ a large amount of labor relative to the amount of capital equipment
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 twentieth century. More service Industries
Multinational Companies/Transnational Corporations
Companies that operate in a number of different countries. Because of their economic power, they can at times dictate prices paid to producers in developing countries. Public Stocks.
An area of land in which many office buildings are grouped together.
Present or existing everywhere
Costs that do not vary with the quantity of output produced.
Costs that change as output changes.
Set of processes that cause the relative distances between places (i.e., as measured in terms of travel time or cost) to contract, effectively making such places grow "closer."
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.
Global Division of Labor/International Division of Labor
Labor is concentrated in the global economic periphery and semiperiphery to take advantage of lower labor costs, whereas research and development is primarily located in the core. Corporations can draw labor from markets all around the world due to time-space compression.
The goods manufactured in these zones are primarily destined for the export global market
The cost of transporting material or product is not important in determining location of production; industries with no allegiance to any country, can locate anywhere in the world typically for tax purposes
Process by which companies move industrial jobs to other regions with cheaper labor, leaving the newly deindustrialized region to switch to a service economy and to work through a period of high unemployment.
Sending parts of a product out for production to another factory for cost savings.
To outsource to a third party located outside of the country.
Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established; areas devoted to research, development, and sale of high technology products
A former industrial or commercial site where future use is affected by real or perceived environmental contamination.
Countries in the periphery; Underdeveloped or developing countries; Cold War term
With respect to a country, making progress in technology, production, and socioeconomic welfare.
Gross National Product (GNP)
The total value of all goods and services
produced by a country's economy in a given year. It includes all goods and services produced by corporations and individuals of a country, whether or not they are located within the country
Gross Domestic Product (GDP)
The total value of all goods and
services produced within a country during a given year.
Gross National Income (GNI)
Monetary worth of what is produced within a country plus income received from investments outside the country minus income payments to other countries.
The legal economy that is taxed and monitored by a government and is included in a government's Gross National Product (GNP).
Economic activity that is neither taxed nor monitored by a government; and is not included in that government's Gross National Product (GNP).
The contrast between the technology available in developed core regions and that present in peripheral areas of underdevelopment.
Technology Transfer Process
The amount of time that it takes a new technology to leave the laboratory and arrive on shelves for citizens to purchase; the diffusion to or acquisition by one culture or retention of the technology possessed by another, usually more developed, society.
Human Development Index (HDI)
Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy.
Physical Quality of Life Index (PQLI)
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.
Modernization Model that 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.
The entrenchment of the colonial order, such as trade and investment, under a new guise.
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.
Three-tier structure, proposing that social
change in the developing world is inextricably linked to the economic activities of the developed world.
A model that describes how economic, political, and/or cultural power is spatially distributed between dominant core regions, and more marginal or dependent semi-peripheral and peripheral regions.
A group of cities that form an interconnected, internationally dominant system of global control of finance and commerce.
Export Process Zones (EPZs)
Place that sets itself up by government or organically to process exports going out of the country. Usually involves ports, tariffs, taxes.
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.
Special Economic Zones (SEZ)
Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment. Common in Command economies
Islands 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.
Nongovernmental Organizations (NGOs)
International organizations that operate outside of the formal political arena but that are nevertheless influential in spearheading international initiatives on social, economic, and environmental issues.
Program that provides small loans to poor people, especially women, to encourage development of small businesses.
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