unit 7 voacb

Question 1

the tendency of enterprises in the same industry to cluster in the same area

Answer 1

agglomeration

Question 2

location where it is more economical to break raw materials into smaller units before shipping them further

Answer 2

break-of-bulk point

Question 3

industry in which the finished goods cost more to transport than the raw materials

Answer 3

bulk-gaining industry

Question 4

industry in which the raw materials cost more to transport than the finished goods

Answer 4

bulk-reducing industry

Question 5

an aspect of dependency theory that occurs when more than 60 percent of a country’s exports and economic health are tied to one or two resources

Answer 5

commodity dependence

Question 6

the relative cost advantage a country or organization has to produce certain goods or services for trade

Answer 6

comparative advantage

Question 7

the mutual trade relationship that exists between two places based on the supply of raw materials and the demand for finished products or services

Answer 7

complementarity

Question 8

a preindustrial form of manufacture in which members of families spread out through rural areas worked in their homes to make goods

Answer 8

cottage industry

Question 9

process by which a country or area reduces industrial activity, particularly in heavy industry and manufacturing

Answer 9

deindustrialization

Question 10

a theory that describes the development challenges and limitations faced by poorer countries and the political and the economic relationships poorer countries have with richer countries

Answer 10

dependency theory

Question 11

economics with two distinct distributions of economic activity across the economic sectors

Answer 11

dual economies

Question 12

collections of industries engaged in similar economic activities based on the creation of raw materials the production of goods, the provision of services or other activites

Answer 12

economic sectors

Question 13

a form of tourism based on the enjoyment of natural areas that minimizes the impact to the enviornment

Answer 13

ecotourism

Question 14

on areas within a country that is subject to more favorable regulations (usually including the elimination of tariff(s) to encourage foreign investment and the manufacturing of goods for export

Answer 14

export processing zone (EPZ)

Question 15

a highly organized and specialized system for industrial production that focuses on efficiency and productivity in mass production; named after Henry Ford

Answer 15

fordism

Question 16

businesses, enterprises, and other economic activities that have government supervision, monitoring, and protection, and are also taxed

Answer 16

formal sector

Question 17

a relatively large geographical area within a country in which businesses pay few or no tariffs on goods to encouraghe or faciliate its role in international facilitate its role in international trade.

Answer 17

free trade zone (FTZ)

Question 18

a measure that calculates gender disparity in the three basic dimensions of human development: health, knowledge, and standard of living

Answer 18

gender development index (GDI)

Question 19

a measure that calculates inequality based on three categories: reproductive health. empowerment, and labor-market participation

Answer 19

gender inequality index (GII)

Question 20

the total value of the goods and services produced by a country’s citizens and companies within the country in a year

Answer 20

gross domestic product

Question 21

the total value of goods and services globally produced by a country in a year divided by the country’s population

Answer 21

gross national income (GNI)

Question 22

the total value of goods and services produced by a country’s citizens and companies both domestically and internationally

Answer 22

gross national product (GNP)

Question 23

a place of economic activity clustered around one or more high-growth industries that stimulate economic gain by capitalizing on some special asset

Answer 23

growth pole

Question 24

the processes involved in the improvement of people’s freedoms, rights, capabilities, choices and material conditions

Answer 24

human development

Question 25

A measure that determines the overall development of a country by incorporating three key dimensions of human development: life expectancy at birth, access to education measured in expected and mean years of schooling, and standard of living measured by GNI per capita

Answer 25

Human Development Index (HDI)

Question 26

a collection of manufacturing facilities in a particular area that is typically found in suburbs and is located close to highways to facilitate movement of raw materials and finished products

Answer 26

Industrial Park

Question 27

any metals, wood or other plant products, animal products, or other substances that are used to make intermediate or finished goods

Answer 27

raw materials

Question 28

economic sector associated with the production of goods from raw materials, includes manufacturing, processing, and construction

Answer 28

secondary sector

Question 29

an area within a country that offers more favorable economic regulations (such as tax benefits or no tariffs) to attract foreign businesses

Answer 29

Special Economic Zone (SEZ)

Question 30

a model that suggest all countries can be categorized on a spectrum from traditional to modern and that to become modern countries need to pass through distinct stages of economic growth in succession

Answer 30

stages of economic growth

Question 31

economic sector that includes a host of top activities tat involved the transport, storage, marketing and selling of goods or services; also called the service sector

Answer 31

tertiary sector

Question 32

women's options and access to participate fully in the social and economic spheres of a society

Answer 32

women's empowerment

Question 33

the radical change in manufacturing methods that began in Great Britain that began in the mid 18th century and was marked by the shift small-scale, hand-crafted, muscle-powered production to power-driven mass production

Answer 33

industrial revolution

Question 34

the process in which the interaction of social and economic factors causes the development of industries on a wide scale

Answer 34

industrialization

Question 35

an economic activity using machinery on a large scale to process raw materials into products

Answer 35

industry

Question 36

any part of a country's economy that is outside of government monitoring or regulation; sometimes called the informal economy

Answer 36

informal sector

Question 37

a pattern of production and labor in which different country's are engaged in distinct aspects of production

Answer 37

international division of labor

Question 38

a system in which goods are delivered as needed so that companies keep in inventory only what is needed for near-term production

Answer 38

just-in-time delivery

Question 39

rate that measures an economy's active labor force, calculated by taking the sum of all employed workers divided by the working age population

Answer 39

labor-market participation (LMP)

Question 40

industrial location theory proposed by Alfred Weber suggesting that businesses locate their facilities in a particular place because that location minimizes the cost of production

Answer 40

least-cost theory

Question 41

a very small short-term loan with low interest intended to help people in need

Answer 41

microloan

Question 42

the economic effect in which a change create a larger change, such as when a new manufacturing plant grows the economy by giving rise to more related jobs and services

Answer 42

multiplier effect

Question 43

beliefs that favor free market capitalism in which trade has no constraints from government

Answer 43

neoliberalism

Question 44

the condition of one or more aspects of production are move do an organization in another country

Answer 44

offshore outscoring

Question 45

system focused on small-scale batch production for a specialized market and flexibility that allows for quick response to changes in the market

Answer 45

post-fordism

Question 46

an economic pattern marked by predominant territory sector employment with a good share to quaternary and quinary jobs

Answer 46

postindustrial economy

Question 47

economic sector associated with removing or harvesting products from the earth; includes agriculture. fishing, forestry, mining or quarrying, and extracting liquids or gas.

Answer 47

primary sector

Question 48

economic sector that is a subject to tertiary sector activities that require workers to process and handle information and environmental technology

Answer 48

quaternary sector

Question 49

economic sector that is a subset of the quaternary sector; involves the very top leader sin government, science, universities, nonprofits, health care, culture, and media.

Answer 49

quinary sector