AP Human Geo Vocab-7

AMSCO vocab for AP Human Geo.

Least Cost Theory

Developed by Alfred Weber to explain the key decisions made by businesses about where to locate factories such as transportation costs, labor, costs, etc.

Colonialism

A type of imperialism in which people move into and settle on the land of another country.

Commodity

A raw material or a basic good that can be traded, like agricultural products or resources

Comparative advantage

Ability to produce a good or service at a lower cost than others

Complementary advantage

When a country has the income, goods, or services that the other countries desire.

Core countries

Refers to the highly industrialized, economically advanced countries that dominate the global economy; the economically advantaged countries of the world. They have strong government support for economic growth

Dependency Theory

Countries exist as a part of an intertwined world system in which all countries are dependent on each other

European Union

Trading bloc (groups of countries that agree to a common set of trade rules); consists of most of the countries in Europe (not all countries in Europe are part of it)

Fertility rates

Calculation of the average number of children a woman is expected to have in their lifetime.

Footloose

Industries that are not tied to specific locations due to their minimal resource needs and can operate anywhere with suitable conditions

Formal economy

The portion of the economy that is monitored by the government so people follow regulations and pay taxes. Portion of economic activity measured by GDP, GNP, and GNI.

Gender empowerment

The process of increasing women's (and other marginalized genders') ability to participate in and contribute to society, including economic, political, and social spheres, essentially achieving equality with men

Gender Inequality Index

Composite measure that reflects inequality in achievements between women and men in three dimensions: Reproductive health, Empowerment, Labour market; High value = high inequality; low value = low inequality

Gross Domestic Product (GDP)

The total value of officially recorded goods and services by the citizens and corporations within a country’s borders in a given year. Goods + Services = A country’s GDP

Gross National Income per capita (GNI)

Most accurate measure of wealth, because it accounts for the impacts of trade. GDP + (exports out of the country-imports into a country) = GNI

Gross National Product (GNP)

The total monetary value of all final goods and services produced by residents of a country in a given time period, usually one year

Human Development Index (HDI)

Statistical tool used to measure a country's human development (economic & social). It takes into account a range of factors, including life expectancy, education, and income/living conditions. The lower the score, the less development in a country

Imperialism

A concept that includes a variety of ways of influencing another country or group by direct conquest, economic control, or cultural dominance.

Industrialization

The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of good

Infant mortality rates

The number of deaths of infants under one year old in a given year per 1,000 live births

Informal economy

Portions of the economy that are not monitored by the government; include economic activities such as those done without pay; the illegal or uncounted economy that governments do not tax or keep track of.

Markets

A place where products are sold

MERCOSUR

Trading bloc (groups of countries that agree to a common set of trade rules); consists of Argentina, Brazil, Paraguay and

Uruguay, Venezuela, and Bolivia (The Southern Common Market (MERCOSUR for its Spanish initials)

Microloans

A small sum of money lent at low interest to a new business

OPEC

Trading bloc whose objective is to co-ordinate and unify petroleum policies among Member Countries, to secure fair and stable

prices for petroleum producers; currently consists of 12 countries that produce oil

Periphery countries

Refers to the less industrialized, less economically developed countries that are often dependent on the core countries. The periphery is often characterized by a lack of economic and political power and may be heavily dependent on the core countries for trade, investment, and other forms of economic support.

Primary sector

Extraction of raw materials and natural resources from the earth’s surface; Using the natural resources directly

Quaternary sector

Knowledge-based sector, focusing on research and information creation and transfer. Using raw materials is the primary sector to produce/manufacture something new.

Quinary sector

Sector where the highest levels of decision-making, include top officials in government and business.

Rostow's Stages of Economic Growth

States that there are 5 Stages of Economic Growth in which a country goes through economic development; the economic development of a country is a linear progression in which countries move from one stage to the next until they reach the final stage - high mass consumption.

Secondary sector

Processing and manufacturing raw materials into a finished product.

Semi-periphery countries

Semi-periphery countries are those that are industrializing and have characteristics of both core countries (developed) and periphery countries (less developed). Middle-income countries that provide the core with manufactured goods and services

Service sectors

the part of the economy that primarily focuses on providing intangible goods like services to consumers, rather than producing physical products

Tariffs

Taxes imposed on imported products from other countries make these products less attractive (more expensive) and domestically produced goods more attractive (less expensive).

Tertiary sector

Service sector that focuses on moving, selling, and trading products in primary and secondary sectors.

Wallerstein's World System Theory

Theory of economic development that explains how the global economy is divided into a core, a periphery, and a semi-periphery

World Trade Organization

A global organization that monitors the rules of international trade by providing a forum for negotiating trade deals, settling disputes between its members, supporting the needs of developing countries, and helping companies follow similar international trade policies.

Agglomeration

Refers to the clustering of people, businesses, and activities in a particular area, creating a concentration that often leads to increased efficiency and collaboration.

Break-of-bulk points

A location where goods are transferred from one type of carrier to another facilitates the change from one mode of transportation to another.

Brownfields

Areas with dilapidated buildings and/or polluted soil resulting from abandoned factories

Economies of scale

Increase in efficiency to lower the per-unit production cost, resulting in greater profits. Examples: Walmart, Costco

Ecotourism

Traveling to a region by people who are interested in its distinctive and unusual ecosystem

Export processing zones

Designated areas within a country that offer favorable conditions for foreign and domestic companies to manufacture and export goods. These zones typically provide tax breaks, regulatory exemptions, and streamlined customs procedures to attract foreign investment,

Fordism

Refers to the system of mass production and consumption that emerged in the early 20th century, characterized by assembly line manufacturing and standardized products

Fossil Fuel

Natural resources formed from the decomposed remains of ancient plants and animals, buried under layers of sediment and rock for millions of years.

Just-in-time delivery

A system in which the inputs in the assembly process arrive at the assembly location when they are needed; reduces the expensive storage costs of inventory.

Manufacturing

Turning a natural resource into another product. Manufacturing is another word for factories.

Maquiladoras

Manufacturing plants located in Mexico, often near the U.S. border, that assemble imported materials into finished goods for export to other countries

Offshoring

Relocating business processes or production to another country, often to reduce costs or increase efficiency

Outsourcing

Contracting work to noncompany employees or other companies for companies to reduce costs.

Post-Fordist methods

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

Rust Belt

A region in the northeastern United States historically characterized by heavy industry and manufacturing faced economic decline and industrial decay, leading to the closure of many factories and a decrease in population.

UN's Sustainable Development Goals

Set of 17 goals created by the United Nations to address global challenges such as poverty, inequality, climate change, environmental degradation, peace, and justice