chapter 7 Flashcards
deindustrialization
a relative decline in industrial employment in core regions
export-processing zone (EPZ)
small areas with favourable investment and trading conditions that are created by govts to attract export-oriented industries
initial advantage
critical importance of an early start in economic development, a special case of external economies
global divisions of labour
divisionor share of the types of economic activities across the globe
new intl division of labour
deindustrialization of US
exploitation of wage disparities
based on weak labour/enviro laws in other countries
technology system
clusters of interrelated energy, transportation and production technologies that dominate economic activity for several decades at a time
trading bloc
groups of countries with formalized systems of trading agreements
outsourcing
foreign and domestic forms of outside contracting. It is an agreement in which one company hires another company to be responsible for a planned or existing activity
gross domestic product gdp
an estimate of the total value of all materials, foodstuffs, goods, and services produced by a country in a particular year
**human development index
A long and healthy life: measured by life expectancy at birth
Knowledge: measured by expected years of schooling (for children of school entering age) and average years of schooling (for adults aged 25 and older)
A decent standard of living: measured by Gross National Income (GNI) per capita
newly industrializing country (NIC)
countries, formerly peripheral within the world-system, that have acquired a significant industrial sector
transnational corp (TNC)
companies with investments and activities that span int boundaries and with subsidiary companies, factories, offices, or facilities in several countries
economic development (definition 1)
improvements in the prosperity of a place measured in productivity, incomes, purchasing power, and levels of consump
economic development (definition 2)
processes of change in the economy of a region
- changes in economic structure (shift from agriculture to manu)
-changes in forms of economic org (shift in socialism to free market capitalism)
- changes in the avail and use of techology within the region
measurements of economic development
GDP
GNI
PPP
GNI
total income earned by a countrys people and businesses no matter where it was earned
PPP
compare economic productivity and stds of livign b/w countries
compares diff countries currencies through a basket of goods appraoch
human development index
measures life expectancy, education levels, and income
patterns of economic development
economic development is uneven
widening gap b/w rich and poor
resource base is a key factor in economic dev
availibility and use of tech is another key factor
economic structure of a country/region a third key factor
geographies of ineqaulities
life expectancy
personal income
access to education, health care, tech, green spaces, safety
key factors in economic development
resource base
avail and use of tech
economic structure
primary
extraction and harvesting of natural products
mining, fishing
secondary
producing goods from natural products/adding value
manufacturing
tertiary
providing services to businesses and consumers
retail sales, financial sector, education, lawyers
