UNIT 7 Flashcards

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1
Q

why was their a manufacturing boom in the 20th century

A

because of Henry Ford’s assembly line

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2
Q

what was the dominant mode of mass production known as in the 20th century

A

fordists industry

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3
Q

where did Ford produce raw materials and manufacture goods

A

Dearborn, Michigan

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4
Q

what is vertical integration

A

owning every step in a manufacturing process

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5
Q

what is post fordist production

A

focuses on producing when needed

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6
Q

Just-in-time delivery

A

Rather than keeping a large inventory of products, companies keep just what they need for short-term production and new parts are shipped quickly when needed

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7
Q

why have many older manufacturing areas experienced deindustrialization

A

because of advances in flexible production

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8
Q

Break of bulk

A

something going from one transportation system to another, ex. ship to train

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9
Q

four asian tigers

A

South Korea, Hong Kong, Singapore, Taiwan

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10
Q

why was Singapore able to develop quickly

A

because of their major shipping lane

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11
Q

what caused China to become more wealthy and industrialized

A

when they abandoned communism

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12
Q

why do countries move to take advantage of China

A

Cheap Labor and SEZs

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13
Q

Who did China surpass as the worlds second largest economy in 2010

A

Japan

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14
Q

what are factors of industrial location

A

location of raw materials
labor (price, skill, amount)
Market
transportation costs

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15
Q

who created least costs theory and when

A

Alfred Weber in 1909

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16
Q

what does least cost theory do?

A

Explains the best location of a manufacturing establishment in terms of three basic expenses

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17
Q

what are the 3 factors in least cost theory

A

transportation cost, labor, agglomeration

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18
Q

transportation costs

A

The site must entail the lowest possible cost of moving
A) raw materials to the factory
B) finished products to the market

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19
Q

what was the most important factor of least cost theory according to weber

A

transportation cost

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20
Q

Labor

A

Higher labor costs limit profits, so a factory might do better farther from raw materials and markets if cheap labor is available

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21
Q

agglomeration

A

When a large number of enterprises cluster in the same area, they can provide assistance to each other through shared talents, services, and facilities

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22
Q

three main ways to measure development

A

Gross National Product (GNP)
Gross Domestic Product (GDP)
Gross National Income (GNI)

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23
Q

Gross National Product (GNP)

A

the total value of all the goods and services produced by the people and businesses of a country, both within its borders and abroad

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24
Q

Gross Domestic Product (GDP)

A

a measure of all the goods and services produced within a country’s borders in a year (only domestic)

25
Q

Gross National Income (GNI)

A

a measure of all the money earned by people and businesses in a country, both within the country and from abroad, in a year.

26
Q

what may be some problems to the measures of development

A

they only measure through the formal economy (things govs tax and monitor) does not count the informal economy (Bartering, trading, illegal cartels)

27
Q

other ways to measure development

A
  • Productivity per worker
  • Transportation and communications facilities per person
  • Dependency Ratio
28
Q

HDI

A

a way to measure how well people are living in different countries by looking at their life expectancy, education level, and income. It gives each country a score to show how developed or advanced it is in terms of these factors.

29
Q

GII (Gender inequality index)

A

measures how men and women are treated differently in different countries. It looks at things like education, work, and political power.

30
Q

GEM

A

a tool that measures the level of empowerment and equality of women compared to men in various aspects like political participation, economic opportunities, and decision-making power within a country.

31
Q

what is Rostow’s model also called

A

ladder of development

31
Q

traditional stage

A

Dominant activity is subsistence farming Rigid social structure, resistance to change

31
Q

who was the Rostow Model created by

A

Walt Rostow

32
Q

takeoff stage

A

rapid expansion of industry, surge of technology, commercial agriculture,

32
Q

what does the Rostow model assume

A

all countries can reach the same level of development and that all will follow a similar path.

32
Q

5 stages in the Rostow model

A

traditional, preconditions of takeoff, takeoff, drive to maturity, high mass consumption

33
Q

preconditions of takeoff stage

A

surplus of agriculture expanse of trade and manufacturing some urbanization and begins of a commercial class

33
Q

drive to maturity

A

technology extends to all sectors, labor saving devices are made, urbanization, skilled and professional workers

34
Q

high mass consumption

A

use and production of durable goods, shift to suburbs, population growth has stabilized,

35
Q

neo-colonialism

A

Idea that major powers continue to control the economies of poorer countries even though they are politically independent

36
Q

Structuralist Theories

A

Economic disparities are built into the system, and it will not change easily
Assumes all countries will not go through the same development process

37
Q

Dependency Theory

A

Type of structuralist theory
suggests that poorer countries are trapped in a cycle of underdevelopment because they are economically dependent on wealthier countries, which exploit their resources and labor, perpetuating inequality and hindering their ability to develop independently.

38
Q

Barriers to Economic Development

A

Social conditions
Foreign debt
Political Instability
Widespread Disease

38
Q

Foreign debt

A

After decolonization, peripheral countries need funds for developing
structural adjustment loans
Loans with strings attached

38
Q

political instability

A

foreign influences
Decolonization left governments unstable
Groups competing for power
military coups, dictators
Disenfranchisement of the poor
corruption of the government, people cut off from foreign aid

39
Q

Social conditions

A

High youth dependency ratio
Low number of doctors per patient
Lack of access to education ( girls not attending as long as boys)
trafficking: adults and children

40
Q

Widespread disease

A

Poor conditions in water, sewage, and access to health care
Vectored Diseases spread by an intermediate host (ex: mosquito)
Malaria (Silent Tsunami)
2-3 million deaths per year

41
Q

Export processing zones (EPZ)

A

Give favorable tax and trade arrangements for foreign firms

42
Q

where did the industrial revolution begin

A

Great Britain

43
Q

Multinational (Transnational)
Companies

A

Companies that operate factories in countries other than
the ones in which they are headquartered.

44
Q

OPEC

A

Organization made up of multipe Middle Eastern countries
designed to regulate the output of oil.

45
Q

primary

A

Involves the extraction and production of natural resources.

46
Q

secondary

A

Economic activities related to processing raw materials
into finished products of great value.

47
Q

Tertiary Sector

A

Involves providing services rather than producing goods.

48
Q

Quaternary Sector

A

Focuses on information technology, research, and knowledge-based services.

49
Q

Quinary Sector

A

Includes high-level decision-making roles and activities related to governance, management, and strategic planning.

50
Q

Structuralist Theories

A

Argues that less-developed countries are locked into a
vicious cycle of entrenched underdevelopment by the
global economic system that supports an unequal
structure.

51
Q
A