unit 5: economic

Question 1

cost benefit analysis

Answer 1

what you give to get something

Question 2

cost

Answer 2

amount of time or money a company needs to produce a product

Question 3

profit

Answer 3

price x cost

Question 4

subsidies

Answer 4

effort to lure a company to an area

Question 5

agglomeration industries

Answer 5

companies choose to locate near competitors to share infrastructure, suppliers, work? talent

Question 6

raw materials

Answer 6

materials used to create a product

Question 7

agglomeration

Answer 7

companies produce same type of product and pick locations near each other

Question 8

outsourcing

Answer 8

hiring another company to preform same job functions

Question 9

footloose industry

Answer 9

very few location requirements

Question 10

least cost theory

Answer 10

industries must find a location that offers the greatest cost advantage

Question 11

raw material orientation

Answer 11

industry located raw material

Question 12

bulky raw material

Answer 12

too large to move far

Question 13

perishable raw material

Answer 13

processed before shipping to prevent spoilage

Question 14

market orientation

Answer 14

industry located near market

Question 15

market perishable

Answer 15

too big to transport

Question 16

perishable market

Answer 16

limited lifetime

Question 17

weight gaining

Answer 17

finished item gains weight at market site making transport expensive

Question 18

offshoring

Answer 18

moving outsourced jobs to another country

Question 19

comparative advantage

Answer 19

doing one thing really well

Question 20

comparative advantage in

Answer 20

labor
climate
technology

Question 21

international division of labor

Answer 21

each region of the world specializes

Question 22

development

Answer 22

standard of living

Question 23

economic indicators

Answer 23

income
job type
productivity

Question 24

demographic factors

Answer 24

infant mortality
life expectancy
total fertility

Question 25

social factors

Answer 25

gender equality | wages education

Question 26

industrialization

Answer 26

wealthy and poor

Question 27

more developed companies

Answer 27

highest standard | core countries

Question 28

emerging countries

Answer 28

medium standard | semi perphery countries

Question 29

less developed countries

Answer 29

lowest standard lowest scores Periphery countries

Question 30

gender related development

Answer 30

equality between males and females

Question 31

gender empowerment measure

Answer 31

woman improving status

Question 32

rostows stages

Answer 32

1. traditional society 2. preconditions for takeoff 3. takeoff 4. drive to maturity 5. high mass production 6. post industrial stage

Question 33

criticizes Rostow

Answer 33

as they developed they solved problems created a new industry

Question 34

how do countries developed

Answer 34

help from developed countries increase education improve infrastructure

Question 35

price

Answer 35

amount of money a person pays for a good or service