Unit 7

Question 1

The number of births per 1,000 women ages 15 to 19.

Answer 1

Adolescent Fertility Rate

Question 2

The quantity of something that consumers are willing and able to buy.

Answer 2

Demand

Question 3

A country that has progressed relatively far along a continuum of development.

Answer 3

Developed country (more developed country [MDC] or relatively developed country)

Question 4

A country that is a relatively early stage in the process of economic development.

Answer 4

Developing country (less developed country [LDC])

Question 5

A process of improvement in the material conditions of people through diffusion of knowledge and technology.

Answer 5

Development

Question 6

An alternative to international trade that emphasizes small businesses and worker-owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organization, and comply with minimum environmental and safety standards.

Answer 6

Fair trade

Question 7

The percentage of women holding full-time jobs outside the home.

Answer 7

Female labor force participation rate

Question 8

A measure of the extent of each country’s gender inequality.

Answer 8

Gender Inequality Index (GII)

Question 9

The value of the total output of goods and services produced in a country in a given time period (normally one year).

Answer 9

Gross domestic product (GDP)

Question 10

The value of the output of goods and services produced in a country for one year, including money that leaves and enter the country.

Answer 10

Gross national income (GNI)

Question 11

An indicator of the level of development for each country constructed by the United Nations that is based on income, literacy, education, and life expectancy.

Answer 11

Human Development Index (HDI)

Question 12

Modification of the HDI to account for inequality within a country.

Answer 12

Inequality-adjusted HDI (IHDI)

Question 13

The percentage of a country’s people who can read and write.

Answer 13

Literacy rate

Question 14

The number of women who die giving birth per 100,000 births.

Answer 14

Maternal mortality ratio

Question 15

Provision of small loans and other financial services to individuals and small businesses in developing countries

Answer 15

Microfinance

Question 16

Eight international development goals that all members of the Untied Nations have agreed to achieve by 2015.

Answer 16

Millennium Development Goals

Question 17

The portion of the economy concerned with the direct extraction of materials from Earth’s surface, generally through agriculture, although sometimes by mining, fishing, and forestry.

Answer 17

Primary sector

Question 18

The value of a particular product compared to the amount of labor needed to make it.

Answer 18

Productivity

Question 19

The amount of money needed in one country to purchase the same good and services in another country; adjusts income figures to account for differences among countries in the cost of goods.

Answer 19

Purchasing power parity (PPP)

Question 20

The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.

Answer 20

Secondary sector

Question 21

The quantity of something that producers have available for sale.

Answer 21

Supply

Question 22

The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people, in exchange for payment.

Answer 22

Tertiary sector

Question 23

Development of core regions at the expense of those on the periphery.

Answer 23

Uneven development

Question 24

A location where transfer is possible from one mode of transportation to another.

Answer 24

Break-of-bulk point

Question 25

An industry in which the final product weighs more or comprises a greater volume than the inputs.

Answer 25

Bulk-gaining industry

Question 26

An industry in which the final product weighs less or comprises a lower volume than the inputs.

Answer 26

Bulk-reducing industry

Question 27

Manufacturing based in homes rather than in a factory, commonly found before the Industrial Revolution.

Answer 27

cottage industry

Question 28

Form of mass production in which each worker is assigned one specific task to perform repeatedly.

Answer 28

Fordist production

Question 29

Anticipated increase in Earth's temperature, caused by carbon dioxide (emitted by burning fossil fuels) trapping some of the radiation emitted by the surface.

Answer 29

greenhouse effect

Question 30

A series of improvements in industrial technology that transformed the process of manufacturing goods.

Answer 30

Industrial Revolution

Question 31

Shipment of parts and materials to arrive at a factory moments before they are needed.

Answer 31

Just-in-time delivery

Question 32

An industry for which labor costs comprise a high percentage of total expenses.

Answer 32

Labor-intensive industry

Question 33

Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less developed countries.

Answer 33

New international division of labor

Question 34

A decision by a corporation to turn over much of the responsibility for production to independent suppliers.

Answer 34

Outsourcing

Question 35

Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.

Answer 35

Post-Fordist Production

Question 36

A U.S. law that prevents a union and a company from negotiating a contract that requires workers to join the union as a condition of employment.

Answer 36

right-to-work laws

Question 37

Location factors related to the costs of factors of production inside the plant, such as land, labor, and capital.

Answer 37

Site Factors

Question 38

Location factors related to the transportation of materials into and from a factory.

Answer 38

Situation Factors

Question 39

An approach typical of traditional mass production in which a company controls all phases of a highly complex production process.

Answer 39

Vertical Integration

Question 40

The portion of the economy concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services.

Answer 40

Quarternary Sector

Question 41

Service sector industries that require a high level of specialized knowledge or technical skill. Examples include scientific research and high-level management.

Answer 41

Quinary Sector

Question 42

The development of industries for the machine production of goods.

Answer 42

Industrialization

Question 43

A measurement of prosperity or wealth for the people in a country usually measured in terms of income.

Answer 43

Standards of living

Question 44

Grouping together of many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labor resources.

Answer 44

Agglomeration

Question 45

Model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.

Answer 45

Least Cost Theory

Question 46

The world economy has one market and a global division of labor. Although the world has multiple states, almost everything takes place within the context of the world economy. The world economy has a three-tier structure.

Answer 46

Wallerstein's World Systems Theory

Question 47

Countries that dominate trade, control the most advanced technologies, and have high levels of productivity within diversified economies.

Answer 47

core country

Question 48

Those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China, and South Africa.

Answer 48

semi-periphery

Question 49

The least developed and least powerful nations; often exploited by the core countries as sources of raw materials, cheap labor, and markets.

Answer 49

periphery countries

Question 50

A social class made up of skilled workers, professionals, business people, and wealthy farmers.

Answer 50

Middle Class

Question 51

A social class broadly composed of people working in blue-collar, or manual, occupations.

Answer 51

Working Class

Question 52

A process of social and economic change caused by the removal or reduction of industrial capacity or activity in a country or region, especially of heavy industry or manufacturing industry.

Answer 52

Deindustrialization

Question 53

Economic policies that are predicated on a minimalist role for the state, assuming the desirability of free markets as the ideal condition not only for economic organization but also for political and social life.

Answer 53

Neoliberal policies

Question 54

An organization that promotes trade and economic cooperation among the southern and eastern countries of South America.

Answer 54

Mercosur

Question 55

A tax on imported goods.

Answer 55

Tariff

Question 56

Private organizations that pursue activities to relieve suffering, promote the interests of the poor, protect the environment, provide basic social services, or undertake community development.

Answer 56

non-governmental organization (NGO)

Question 57

A form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way.

Answer 57

Ecotourism

Question 58

A duty-free and tax-exempt industrial park created to attract foreign corporations and create industrial jobs.

Answer 58

Free Trade Zone (FTZ)

Question 59

Physical spaces within a country where special regulations benefit foreign-controlled businesses.

Answer 59

export processing zones (EPZs)