AP HUGE CED vocab

Fair Trade

Encourages fair wages for workers in less developed countries

Development

Transition to industry-based economy with improved living standards

Industrialization

Economic shift from agriculture to manufacturing

Standard of Living

Wealth level available to individuals or communities

Break-of-Bulk Point

Location where cargo is redistributed to other forms of transport

Bulk-Gaining Industry

Produces goods that increase in volume during production

Bulk-Reducing Industry

Produces goods that decrease in volume during production

Core

Powerful, wealthy countries influencing the global economy

Labor Union

Worker organization protecting rights and interests

Least Cost Theory

Alfred Weber's industry location prediction theory

Market

Location for selling goods, expanded by the Internet

Periphery

Underdeveloped countries with minimal global economic influence

Right-to-Work State

US states where union membership isn't mandatory for employment

Sectors of the Economy

Division of jobs based on economic purpose

Semiperiphery

More-wealthy less developed countries influencing global economy

Formal Economy

Legal economic activities monitored by the government

Gender Empowerment Measure

UN statistic measuring gender inequalities

Gender Inequality Index

UN statistic measuring development loss due to gender disparities

Gross Domestic Product

Monetary value of all goods and services produced within a country

Gross National Income

Monetary value of goods and services by citizens in and out of the country

Gross National Product

Monetary value of goods and services by country residents

Human Development Index

UN metric assessing a country's economic development

Informal Economy

Untaxed, unmonitored economic activities

Literacy Rate

Percentage of people able to read and write in an area

Nonrenewable Energy

Depletable energy sources like fossil fuels

Renewable Energy

Sustainable energy sources like wind or solar power

Dependency Theory

MDC wealth at the expense of LDCs

Microloans

Small, low-interest loans for new businesses

Commodity Dependence

Economic reliance on a single product

Comparative Advantage

Efficient economic activity execution compared to others

Complementarity

Regions satisfying each other's demands through trade

European Union

European supranational organization promoting trade and unity

Free Trade Agreement

Treaty eliminating tariffs between countries

International Monetary Fund

Global economic stability promoter and LDC supporter

Mercosur

South American trade improvement supranational organization

Neoliberal Policies

Economic rules for sustained growth and free markets

Organization of Petroleum Exporting Countries

Oil supply stabilization supranational organization

Tariff

Tax on foreign goods to promote local purchases

World Trade Organization

Global trade rules and dispute resolution organization

Agglomeration

Benefits of companies clustering together

Deindustrialization

Industrial decline due to cheaper labor elsewhere

Export Processing Zone

LDC regions with tax breaks for export-focused production

Foreign Direct Investment

Investment in another country's business interests

Fordist Production

Mass production with specialized worker tasks

Free Trade Zone

LDC areas with waived tariffs to attract MNC investments

Growth Pole

High-tech industry stimulating economic growth

International Division of Labor

Manufacturing shift from advanced to developing countries

Just-in-Time Delivery

Inventory strategy to minimize storage costs

Maquiladora

Mexican factory producing goods for export

Multiplier Effects

Increased spending leading to greater national income

Outsourcing

Company operations transfer to external entities or locations

Post-Fordist Production

Flexible work rules adoption by companies

Special Economic Zone

Area with unique trade laws to attract foreign investment

Ecotourism

Tourism supporting conservation efforts in natural environments

Mass Consumption

Large-scale purchase of standardized products or services

Natural Resource Depletion

Consuming resources faster than they can replenish

Sustainable Development

Economic growth without rapid natural resource depletion

Textile

Fabric or woven material

Vertical Integration

Different companies in a manufacturing process combining

Nonbasic Industries

Companies selling goods mainly within a local area

Basic Industries

Companies selling goods mainly outside the local area

Post-modern architecture

Architectural style breaking modern architecture rules

Boomburbs

Rapidly growing suburban city with major city size

Exurbs

Area outside dense suburbs with economic ties

Megacity

Metropolitan area with over 10 million population

Rank-size rule

Population ratio between largest and nth city

Central business district

Main business area of a town or city

Multiple nuclei model

City model with individual nodes attracting activities

Latin American city model

Wealthy residential zones expanding from the center

De facto segregation

Organic racial segregation without legal enforcement

Mixed land use

Blending residential, commercial, and other uses

Smart growth

Planned urban development for reduced environmental impact

Combined statistical area

Area with linked MSAs and µSAs

Blockbusting

Real estate tactic exploiting fear of demographic change

Gentrification

Renovating low-income housing to increase value

Redlining

Refusing loans based on poverty, now illegal

Slum

Heavily populated poor area with substandard housing

Urban renewal

Redevelopment of city areas, often slums

Brownfields

Formerly industrial sites perceived as environmentally contaminated

Public housing

Government-subsidized housing for low-income individuals

Site

Location description based on physical surroundings

Urbanization

Population shift from rural to urban areas

Edge city

Large urban area on city outskirts near major road

Suburbanization

Population shift from urban areas to suburbs

Primate city

Largest city disproportionately larger than others in region

Range

Maximum distance people travel for a service

Market area

Zone containing potential customers for a firm

Yield

Amount of agricultural product produced in a cultivation area

Transhumance

Seasonal movement of flocks for grazing

Extensive agriculture

Uses little labor on large land

Intensive agriculture

Uses much labor on small land

Market gardening

Small-scale crop production for local sale

Nomadic herding

Traveling with animals for grazing

Ranching

Livestock agriculture over large areas

Shifting cultivation

Cutting vegetation for soil nourishment, moving periodically

Tropical climate

Warm, high-precipitation areas near the equator

Base line

Principal east-west line for land surveys

Clustered settlement

Houses close to each other's fields

Linear settlement

Long, narrow settlement along a river or road

Metes and bounds

Land parcel description system