Studied by 1 person
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
Note
Flashcard