ap human units 1 to 7

Cottage industry

An industry in which the production of goods and services is based in homes, as opposed to factories

Interchangeable parts

the concept that manufactured goods could be assembled using standardized parts, which could be replaced in the items as needed with new parts.

Primary sector

the extraction and harvesting of natural resources

Secondary sector

the part of economy that transforms raw materials into finished goods and products.

Tertiary sector

the segment of the economy that provides services rather than goods

Quaternary sector

Activities that involve the creation and distribution of knowledge and information

Quinary sector

Focus on high-level decision making and specialized services that require advanced training and knowledge

Alfred Weber

industry is situated within the area where the costs of transporting raw materials and the final output are minimal

Agglomeration

the process of businesses and industries clustering together in a specific geographic area, often a city or region

technopoles

a region with a high concentration of high-tech industries and research institutions, often near universities

Ecotourism

a form of tourism focused on enjoying natural areas while minimizing environmental impact and maximizing benefits for local communities

Post Fordist

the shift away from the Fordist model of mass production, characterized by large-scale, standardized factories, towards more flexible and specialized production methods

Fordist

a system of mass production and consumption popularized by Henry Ford, particularly in the early 20th century, characterized by the use of assembly lines, standardized interchangeable parts, and a focus on high-volume, low-cost production

World Trade Organization

an intergovernmental organization that sets the rules for international trade, aiming to promote free and fair global commerce

Core

a very developed region

Periphery

less developed region

Break of Bulk

point is a location where goods are transferred from one mode of transportation to another

Gross Domestic product

the total monetary value of all final goods and services produced within a country's borders during a specific time period (usually a year)

Gross National income

a measure of a country's total income, including income earned by its citizens and businesses, regardless of where that income is generated (domestically or abroad)

Microloans

microloans are small loans, often provided to individuals, particularly women in developing countries, to support small businesses or microenterprises

Dependency Theory

explains that some nations remain underdeveloped because they are dependent on, and exploited by, more developed nations

commodity dependence

a situation where a country's economy relies heavily on the export of primary commodities, like raw materials or agricultural products

World systems theory

a framework that views the world as a single, interconnected system of countries with a hierarchical structure

Walt Rostow

Walt Rostow's modernization model is a theory explaining economic development. It proposes that all countries progress through five stages

Tariffs

a tax levied on goods or services imported into a country

Outsourcing

the practice of a business delegating specific tasks or functions to a third-party vendor, often located outside the company's home country, to reduce costs, scale operations, or expand internationally