unit 7

Question 1

Industrialization:

Answer 1

the process of using machinery to produce goods for economic gain

Question 2

Pre- Industrial revolution

Answer 2

many things were made at home (COTTAGE) or by specific individuals (SPECIALTY) [problems = hazards/slower production/not guarantee of quality etc.]

Question 3

Industrial revolution

Answer 3

MAJOR era for industrial growth starting in England then spread (late 1700s into the 1800s) (started making textiles - clothes)

Question 4

Four phases of industrialization:

Answer 4

Phase 1: spread of ideas beyond England to North America
Via, EXPANSION and RELOCATION DIFFUSION
Powered by steam, coal & water

Phase 2: machines & metal parts (late 19th century) {1800s}
Powered by electricity & petroleum (oil)

Phase 3: computers, miniaturization, automation (post- WWII)
Powered by new corporations and more service industries ($)
SERVICE BASED: jobs focused on sales, info, banking, R&D(research and development)

Phase 4: global-internet based (21st century)
Powered by computer chips, robotics, AI, AR, & satellites
BUT, what about those that have been left out of these phases?

Question 5

Economics are divided into 5 different groupings based on available resources

Answer 5

Primary: agriculture, raw materials, ranching (basic)
raw materials (mother nature), lumber, oil,minerals (needed)
Secondary: manufacturing,construction, textiles

Tertiary: basic services & sales (ex: restaurant)

{ recently added below}

Quantanary: technology, research, share info

Quinary: high level education & scientific research

Question 6

World system theory

Answer 6

Immanuel Wallerstine questioned uneven wealth & blamed European expansion

Question 7

1. Core Periphery Model
   (Core)

Answer 7

Wealthy nations with higher education and advanced technology (U.S.)

Question 8

2. Semi- Periphery Model:

Answer 8

active in production of goods, currently industrialization (“in between”) (china)

Question 9

3. Periphery Model

Answer 9

less wealth, tech, stability(afghanistan

Question 10

Least-Cost Theory:

Answer 10

close to raw materials, available labor & transportation to market (Alfred Weber: German)

Question 11

Bulk-reducing industries

Answer 11

raw materials cost MORE to transport than finished goods (close to coal)

Question 12

Bulk-gaining industries:

Answer 12

raw materials cost LESS to transport than finished goods (near car parts)

Question 13

Footloose firms:

Answer 13

lightweight products- industries don’t worry about transportation costs (computer chips)

Question 14

Break-bulk point

Answer 14

where large shipments of goods are broken up into smaller units (typically a port)

Question 15

Outsourcing:

Answer 15

process of relocating a facility to another country for various reasons [making more money, cheaper labor, cheaper taxes,cheaper materials]

Question 16

Transnational corporations:

Answer 16

industries in other countries (Ex: Nike in Indonesia)

Question 17

Maquiladoras

Answer 17

foreign factors in Mexican border cities with quick shipment into the U.S. (Chevrolet/chevy parts)

Question 18

Foreign Investments

Answer 18

money spent by corporations in other countries (driven by economic gain & capitalism)

Question 19

Offshore financial centers:

Answer 19

way of moving money through foreign countries (low taxes & rules)

Question 20

Gross national product (GNP):

Answer 20

: measure of all goods and services produced by a country (including money made from investments abroad) ({foreign})

Question 21

Gross domestic product (GDP

Answer 21

measure of all goods and services produced IN a country

Question 22

Net national product (NNP):

Answer 22

measure of all goods and services MINUS loss to the environment (EX. Logging)

Question 23

Standard of living

Answer 23

a measure of what people have/don’t have access to (necessities)

Question 24

Human development index (HDI):

Answer 24

): calculates development by human welfare standards (United Nations)
Focal points: Life expectancy, education, income

Question 25

Gender equality

Answer 25

women's rights and well being Japan has worked toward better gender equity

Question 26

World happiness report:

Answer 26

based on individuals thoughts on quality of life, safety, jobs, and enjoyment (2012)

Question 27

E-commerce:

Answer 27

Online buyers

Question 28

Brick-and-mortar:

Answer 28

Stores

Question 29

Multiplier effect

Answer 29

companies combine in a central location ( world of Disney)

Question 30

Sustainable development

Answer 30

an attempt at protecting society & the environment for future generations

Question 31

Ecotourism:

Answer 31

visiting a country to see their environment (making money from nature

Question 32

Globalization:

Answer 32

the world’s economies are integrated & interconnected via trade/industrialization

Question 33

Slow World

Answer 33

those that do NOT benefit from globalization & live much different lives from core nations

Question 34

Core nations:

Answer 34

(1st world): have high levels of economic growth, high per capita income, & control most capital

Question 35

Fast World:

Answer 35

rapid communications, transit, media & computers have sped up the lives within core nations "Cultural imperialism" "forced influenced"