Unit 7 - Industrial & Economic Development

Question 1

Development

Answer 1

The process of improving the economic and social and political conditions of a region. “Development efforts often focus on education and infrastructure.”

Question 2

Renewable energy

Answer 2

Energy sources that are naturally replenished

Question 3

International Monetary Fund

Answer 3

An international organization promoting global economic stability and growth. “The International Monetary Fund provides financial assistance to struggling economies.”

Question 4

Standard of living

Answer 4

The level of wealth

Question 5

Industrialization

Answer 5

The process of developing industries in a region or country. “Industrialization often leads to urbanization and economic growth.”

Question 6

Literacy rates

Answer 6

The percentage of people in a population who can read and write. “High literacy rates are linked to better economic opportunities.”

Question 7

Interdependent

Answer 7

Mutually reliant on one another. “Global economies are increasingly interdependent due to trade.”

Question 8

Gender Inequality Index (GII)

Answer 8

A measure of gender disparities in health

Question 9

Outsourcing

Answer 9

The practice of hiring external companies to handle business processes. “Outsourcing manufacturing can reduce costs for companies.”

Question 10

Class structure

Answer 10

The organization of society into hierarchical economic or social classes. “Class structure influences access to resources and opportunities.”

Question 11

Reproductive health

Answer 11

Health services related to sexual and reproductive systems. “Improving reproductive health is crucial for reducing maternal mortality.”

Question 12

Economic restructuring

Answer 12

Changes in the structure of an economy

Question 13

Investor

Answer 13

A person or entity that commits capital to a project or business expecting a return. “The investor funded the startup to support its growth.”

Question 14

Female empowerment

Answer 14

Increasing women’s access to education

Question 15

Special economic zone

Answer 15

Areas with favorable economic regulations to attract investment. “Special economic zones often drive industrial growth.”

Question 16

Colonialism

Answer 16

The practice of acquiring control over another country and exploiting it economically. “Colonialism left lasting economic disparities in many regions.”

Question 17

Female labor-market participation

Answer 17

The involvement of women in the workforce. “Higher female labor-market participation contributes to economic growth.”

Question 18

Free-trade zone

Answer 18

Areas where goods can be traded without tariffs or restrictions. “Free-trade zones promote international trade and investment.”

Question 19

Imperialism

Answer 19

The policy of extending a country’s influence through diplomacy or military force. “Imperialism shaped the political boundaries of many nations.”

Question 20

Export-processing zone

Answer 20

Areas designed to promote exports through reduced taxes and regulations. “Export-processing zones attract foreign direct investment.”

Question 21

Sectors of the economy

Answer 21

The divisions of an economy into primary

Question 22

Human Development Index (HDI)

Answer 22

A composite measure of a country’s life expectancy

Question 23

International division of labor

Answer 23

The global allocation of production based on comparative advantage. “The international division of labor has led to specialized economies.”

Question 24

Primary sector

Answer 24

Activities involving the extraction of natural resources. “Farming and mining are part of the primary sector.”

Question 25

Secondary sector

Answer 25

Activities related to manufacturing and industry. “The secondary sector includes factories and construction.”

Question 26

Post-Fordist

Answer 26

A production model emphasizing flexibility and specialized goods. “Post-Fordist production relies on advanced technology and skilled labor.”

Question 27

Equity

Answer 27

Fair access to resources and opportunities. “Equity is a key principle of social justice.”

Question 28

Multiplier effects

Answer 28

Economic growth resulting from initial investments or spending. “New infrastructure projects often create multiplier effects in local economies.”

Question 29

Tertiary sector

Answer 29

Economic activities providing services. “Teaching and healthcare are part of the tertiary sector.”

Question 30

Quaternary sector

Answer 30

Knowledge-based economic activities. “Research and IT are part of the quaternary sector.”

Question 31

Microloans

Answer 31

Small loans offered to entrepreneurs in developing countries. “Microloans empower individuals to start businesses.”

Question 32

Economies of scale

Answer 32

Cost advantages gained by producing at a larger scale. “Large companies benefit from economies of scale.”

Question 33

Quinary sector

Answer 33

Activities involving high-level decision-making and leadership. “Government officials work in the quinary sector.”

Question 34

Rostow’s Stages of Economic Growth

Answer 34

A model outlining five stages of development for economies. “Rostow’s model explains the progression from traditional to modern economies.”

Question 35

Agglomeration

Answer 35

The clustering of businesses or industries in a specific area. “Tech companies benefit from agglomeration in Silicon Valley.”

Question 36

Just-in-time delivery

Answer 36

Inventory management strategy that reduces storage costs. “Just-in-time delivery minimizes waste in manufacturing.”

Question 37

Break-of-bulk

Answer 37

Locations where goods are transferred from one mode of transport to another. “Ports are common break-of-bulk points.”

Question 38

Wallerstein’s World System Theory

Answer 38

A framework dividing the world into core

Question 39

Dependency theory

Answer 39

A concept that poorer countries remain dependent on richer ones. “Dependency theory critiques the global economic system.”

Question 40

Sustainable development policy

Answer 40

Guidelines promoting environmentally friendly growth. “Sustainable development policies focus on renewable energy.”

Question 41

Market

Answer 41

A system where goods and services are exchanged. “The local market is thriving due to high demand.”

Question 42

Commodity dependence

Answer 42

Reliance on the export of a few primary goods. “Commodity dependence makes economies vulnerable to price fluctuations.”

Question 43

Mass consumption

Answer 43

Large-scale purchasing of goods and services. “Mass consumption drives economic growth in developed countries.”

Question 44

Core

Answer 44

Economically dominant and developed regions. “Core countries often influence global trade.”

Question 45

Trade

Answer 45

The exchange of goods and services between entities. “International trade fosters economic cooperation.”

Question 46

Pollution

Answer 46

The introduction of harmful substances into the environment. “Urban areas face significant challenges from air pollution.”

Question 47

Semiperiphery

Answer 47

Regions that are industrializing and act as intermediaries. “Semiperiphery countries bridge the gap between core and periphery.”

Question 48

Climate change

Answer 48

Long-term shifts in temperature and weather patterns. “Climate change impacts agriculture and infrastructure globally.”

Question 49

Periphery

Answer 49

Economically weaker regions often reliant on the core. “Periphery countries provide raw materials to the global market.”

Question 50

Complementarity

Answer 50

When two regions benefit from each other’s economic activities. “Complementarity exists between oil exporters and importers.”

Question 51

Ecotourism

Answer 51

Tourism focused on environmental sustainability. “Ecotourism promotes conservation and local economies.”

Question 52

Economic development

Answer 52

Progress in an economy’s structure and productivity. “Economic development improves living standards.”

Question 53

Comparative advantage

Answer 53

The ability of a region to produce goods more efficiently than others. “Comparative advantage drives international trade.”

Question 54

Neoliberal

Answer 54

Policies favoring free markets and reduced government intervention. “Neoliberal reforms have reshaped global trade.”

Question 55

United Nations Sustainable Development Goals (UN SDGs)

Answer 55

Global objectives to address poverty

Question 56

Gross Domestic Product (GDP)

Answer 56

The total value of goods and services produced in a country. “GDP growth is a common measure of economic health.”

Question 57

European Union (EU)

Answer 57

A political and economic union of European countries. “The EU promotes trade and collaboration among member states.”

Question 58

Gross National Product (GNP)

Answer 58

The total value of goods and services produced by a country’s residents. “GNP includes income earned abroad.”

Question 59

Gross National Income (GNI)

Answer 59

The total income earned by a country’s residents

Question 60

Per capita

Answer 60

Per person; often used to describe averages. “GDP per capita measures economic output per person.”

Question 61

Mercosur

Answer 61

A South American trade bloc aimed at promoting regional economic integration. “Mercosur facilitates trade between member countries.”

Question 62

Sectoral structure of the economy

Answer 62

The distribution of economic activity across primary

Question 63

Globalization

Answer 63

The increasing interconnectedness of economies

Question 64

Formal economy

Answer 64

Economic activities regulated by the government. “The formal economy includes businesses that pay taxes.”

Question 65

Informal economy

Answer 65

Economic activities not regulated or taxed by the government. “Street vending is part of the informal economy.”

Question 66

Debt

Answer 66

Money owed by individuals

Question 67

Income distribution

Answer 67

The way income is spread across a population. “Unequal income distribution often leads to social tensions.”

Question 68

Debt crisis

Answer 68

A situation where a country cannot repay its debts. “Debt crises often require international assistance to resolve.”