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AP HUG 1/3/5/7 > Unit 7 > Flashcards

Unit 7 Flashcards

1
Q

Industrialization

A

Industrialization: the process of economic and social change that transforms a human group from a pre-industrial society into an industrial one

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2
Q

Globalization

A

Globalization: the homogenizing impact on local culture and economics caused by increased interaction between geographically distinct regions.

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3
Q

Territoriality

A

Territoriality: the concept of territory, which refers to a defined area of land or water that is claimed by a group or individual as their own and is protected from external interference.

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4
Q

Uneven Development

A

Uneven Development: The increasing gap in economic conditions between core and peripheral regions as a result of the globalization of the economy.

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5
Q

Colonialism

A

Colonialism: the process by which one nation exercises near complete control over another country which they have settled and taken over

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6
Q

Imperialism

A

Imperialism: the practice of a country extending its power and influence over other countries, typically through the use of military force, economic coercion, or cultural domination

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7
Q

Development

A

Development: a process of improvement in the conditions of people through diffusion of knowledge and technology.

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8
Q

Developed Country

A

Developed country (MDC): a country that has progressed relatively far along a continuum of development.

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9
Q

Developing Country

A

Developing country (LDC): a country that is at a relatively early state in the process of development.

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10
Q

Human Development index

A

Human Development index (HDI): an indicator constructed by the UN to measure the level of development for a country through a combination of income, education, and life expectancy.

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11
Q

Gross National Income

A

Gross national income (GNI): the value of the output of goods and services produced in a bounty in a year, including money that leaves and enters the country.

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12
Q

Gross National Product

A

Gross national Product (GNP): the total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.

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13
Q

Purchasing Power Parity

A

Purchasing power parity (PPP): the amount of money needed in one country to purchase the same goods and services in another country.

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14
Q

Gross Domestic Product

A

Gross Domestic Product (GDP): The total value of goods and services produced within the borders of a country during a specific time period, usually one year

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15
Q

Debt for Nature Programs

A

Debt-for-nature programs: require debtor governments to promote environmental sustainability and in turn reduce the loan payment and tax burden on the citizens of less developed countries.

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16
Q

Primary Sector

A

Primary sector: the portion of the economy concerned with the direct extraction of materials from Earth, generally through agriculture.

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17
Q

Secondary Sector

A

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

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18
Q

Tertiary Sector

A

Tertiary sector: 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.

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19
Q

Quaternary Sector

A

Quaternary sector: The growth in technology and business leads to specialization of services.

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20
Q

Quinary Sector

A

Quinary sector: the highest level of economic activity, which involves the decision-making and policy-making that drives the other sectors of the economy.

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21
Q

Containerization

A

Containerization: Using standard size containers to ship goods from port to port

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22
Q

High Technology Industries

A

High technology industries: Companies that support the growth and development of sophisticated technologies.

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23
Q

Growth Poles

A

Growth poles: a specific area or sector that drives economic development in a region

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24
Q

Ecotourism

A

Ecotourism: 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.

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25
Q

Natural Resource Depletion

A

Natural resource depletion: when resources are used up in an area.

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26
Q

Productivity

A

Productivity: the value of a particular product compared to the amount of labor needed to make it

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27
Q

Pupil/Teacher Ratio

A

Pupil/Teacher ratio: the amount of students per one teacher. literacy rate/percent of country’s people that can read or write.

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28
Q

Literacy rate

A

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

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29
Q

Informal Economy

A

Informal Economy: Economic activity that is neither toasted nor monitored by a government; and is not included in that governments Gross National Product;

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30
Q

Formal Economy

A

Formal Economy: The legal economy that is taxed and monitored by a government and is included in a government’s gross national product; as opposed to an informal economy.

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31
Q

Break of Bulk Point

A

Break-of-bulk point: the name given to an economic center, like a dockyard, where a manufactured product is assembled and then separated into various shipments ready to be transported to a wide range of markets.

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32
Q

Least Cost Theory

A

Least cost theory: attempts to describe and predict the location of manufacturing industries based on three factors: transportation costs, labor cost, and the benefit of agglomeration (clustering with similar, interdependent businesses).

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33
Q

Markets

A

Markets: The area surrounding a central place, from which people are attracted to use the place’s goods and services.

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34
Q

Import Tariffs

A

Import tariff: Taxes on items entering a country, often used to raise the price of imported goods

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35
Q

Export Tariff

A

Export tariff: Taxes on items entering a country, often used to raise the price of imported goods

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36
Q

Anti-Dumping Statutes

A

Anti-dumping statutes: a higher tax levied on certain products that allow the government to control and monitor the introduction of them into the market

37
Q

Inequality Adjusted Human Development

A

Inequality adjusted Human Development Index (IHDI): measures the level of human development when inequality is accounted for.

38
Q

Wallerstein’s World System Theory

A

Wallerstein’s World-systems theory: divides countries of the world into three groups based on political power, social standing, and economic and technological development.

39
Q

Core

A

Core: National or global regions where economic power, in terms of wealth, innovation, and advanced technology, is concentrated.

40
Q

Periphery

A

Periphery: Countries that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living

41
Q

Semi Periphery Countries

A

Semi-periphery: countries that have a standard of living lower than those in the “core,” but much higher than those in the “periphery.”

42
Q

Gender Development Index

A

Gender Development Index (GDI): An indicator constructed by the U.N. to measure the gender gap in the level of achievement in terms of income, education, and life expectancy.

43
Q

Gender Inequality Index

A

Gender Inequality Index (GII): A measure of the extent of each country’s gender inequality.

44
Q

Female Labor Force Participation Rate

A

Female labor force participation rate: The percentage of women holding full-time jobs outside of the home.

45
Q

Infant Mortality Rate

A

Infant mortality rates: measures how many babies, per thousand births, die before their first birthday.

46
Q

Adolescent Fertility Rate

A

Adolescent fertility rate: The number of births per 1,000 women ages 15 to 19.

47
Q

Global Empowerment Measure

A

Global Empowerment Measure (GEM): Compares the ability of women and men to participate in economic and political decision making.

48
Q

Rostow’s Stages of economic Growth

A

Rostow’s Stages of Economic Growth: Traditional Society; Preconditions for Take-Off; Take-Off; Drive to Maturity; and Age of High Mass Consumption.

49
Q

Dependency Theory

A

Dependency theory: Theory which holds that the political and economic relationships between countries and regions of the world control and limit the economic development possibilities of poorer areas.

50
Q

Commodity Dependence

A

Commodity dependence: When peripheral economies rely too heavily on the export of raw materials, which places them on unequal terms of exchange with more-developed countries that export higher-value goods.

51
Q

European Union

A

European Union (EU): a union of some European countries that is based to promote development within the member states through economic cooperation.

52
Q

Mercosur

A

Mercosur: South American organization whose purpose is to expand trade, improve transportation, and reduce tariffs among member countries including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay

53
Q

Organization of the Petroleum Exporting Countries

A

Organization of the Petroleum Exporting Countries (OPEC): a multinational organization aiming to control the prices of oil.

54
Q

World Trade Organization

A

World Trade Organization (WTO): The International organization that regulates international trade.

55
Q

Foreign Direct Investment

A

Foreign direct investment (FDI): investments made by a foreign company in the economy of another country.

56
Q

International Monetary Fund

A

International Monetary Fund (IMF): an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

57
Q

World Bank

A

World Bank: A specialized agency of the United Nations that makes loans to countries for economic development, trade promotion and debt consolidation.

58
Q

Microfinance/microloans

A

Microfinance/microloans: Provision of small loans and other financial services to individuals and small businesses in developing countries.

59
Q

Structural Adjustment Program

A

Structural adjustment program: Economic policies imposed on less developed countries by international agencies to create conditions encouraging international trade.

60
Q

Multiplier Effect

A

Multiplier effects: Describes the expansion of an area’s economic base as a result of the basic and non-basic industries located there.

61
Q

Economies of Scale

A

Economies of scale: a proportionate saving in costs gained by an increased level of production.

62
Q

UN’s Sustainable Development Goals

A

UN’s Sustainable development goals: The 17 Sustainable Development Goals (SDGs), with their 169 targets, form the core of the 2030 Agenda. They balance the economic, social and ecological dimensions of sustainable development, and place the fight against poverty and sustainable development on the same agenda for the first time.

63
Q

Millennium Development Goals

A

Millennium development goals: Eight international development goals that all members of the UN have agreed to achieve by 2015

64
Q

Fair Trade

A

Fair trade: a concept used in developing countries to help create sustainability.

65
Q

Cottage Industry

A

Cottage Industry: home based manufacturing

66
Q

Site Factors

A

Site Factors: industrial location factors related to the costs of factors of production inside a plant

67
Q

Labor Intensive Industry

A

Labor Intensive Industry: an industry in which wages and other compensation paid to employees constitute a higher percentage of expenses

68
Q

Fordist Production

A

Fordist Production: mass production; each worker has one tasks to perform repeatedly

69
Q

Post Fordist Production

A

Post-Fordist Production: adoption by companies for flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.

70
Q

Situation Factors

A

Situation Factors: location factors relating to the transportation of materials into and from a factory

71
Q

Bulk Reducing Industry

A

Bulk Reducing Industry: an industry in which the inputs weigh more than the final products

72
Q

Bulk Gaining Industry

A

Bulk Gaining Industry: makes something that gains volume or weight during production

73
Q

Just In Time Delivery

A

Just In Time Delivery: shipment of parts and materials to arrive at a factory moments before they are needed

74
Q

Air Pollution

A

Air Pollution: a concentration of trace substances at a greater level than occurs in average air

75
Q

Greenhouse Effect

A

Greenhouse effect: the increase in Earth’s temperature caused by carbon dioxide trapping some of the radiation emitted by the surface

76
Q

Outsourcing

A

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

77
Q

Transnational Corporations

A

Transnational Corporations: companies that operate in more than one country

78
Q

Vertical Integration

A

Vertical Integration: Practice where a single entity controls the entire process of a product, from the raw materials to distribution

79
Q

Horizontal Integration

A

Horizontal integration: ownership by the same firm of a number of companies that exist at the same point on a commodity chain.

80
Q

New International Division Labor

A

New International Division Labor: selective transfer of some jobs to developing countries

81
Q

North American free Trade Agreement

A

North American Free Trade Agreement (NAFTA): created a free trade zone for Mexico, Canada, and the United States, is the most important feature in the U.S.-Mexico bilateral commercial relationship

82
Q

ASEAN

A

ASEAN(Association of Southeast Asian Nations): An organization of countries in southeast Asia set up to promote cultural, economic and political development in the region.

83
Q

Free Trade Zone

A

Free Trade Zones ( ftz): allow for goods from foreign countries to be imported without a tariff, that is, without being taxed for the sake of being foreign goods.

84
Q

Special Trade Zone

A

Special Trade Zones (stz): specific area within a country in which tax and investment incentives are implemented to attract foreign (and domestic) businesses and investment.

85
Q

Export Processing Zone

A

Export processing zones (epz): areas found in many regions of the developing world which provide incentives for foreign companies to conduct their business in developing regions

86
Q

Maquiladoras

A

Maquiladoras: plants in Mexico near the US border

87
Q

Agglomeration Economies

A

Agglomeration Economies: the benefits that come when firms and people locate near one another together in cities and industrial clusters

88
Q

Comparitive Advantage

A

Comparative Advantage: the ability to produce goods and services at a lower opportunity cost, not necessarily at a greater volume or quality

89
Q

Economic Complementarity

A

Economic Complementarity: Complements are goods that are consumed together

AP HUG 1/3/5/7 (4 decks)

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