AP HUGE CED vocab

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Fair Trade

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Encourages fair wages for workers in less developed countries

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Development

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Transition to industry-based economy with improved living standards

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269 Terms

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Fair Trade

Encourages fair wages for workers in less developed countries

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Development

Transition to industry-based economy with improved living standards

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Industrialization

Economic shift from agriculture to manufacturing

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Standard of Living

Wealth level available to individuals or communities

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Break-of-Bulk Point

Location where cargo is redistributed to other forms of transport

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Bulk-Gaining Industry

Produces goods that increase in volume during production

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Bulk-Reducing Industry

Produces goods that decrease in volume during production

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Core

Powerful, wealthy countries influencing the global economy

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Labor Union

Worker organization protecting rights and interests

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Least Cost Theory

Alfred Weber's industry location prediction theory

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Market

Location for selling goods, expanded by the Internet

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Periphery

Underdeveloped countries with minimal global economic influence

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Right-to-Work State

US states where union membership isn't mandatory for employment

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Sectors of the Economy

Division of jobs based on economic purpose

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Semiperiphery

More-wealthy less developed countries influencing global economy

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Formal Economy

Legal economic activities monitored by the government

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Gender Empowerment Measure

UN statistic measuring gender inequalities

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Gender Inequality Index

UN statistic measuring development loss due to gender disparities

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Gross Domestic Product

Monetary value of all goods and services produced within a country

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Gross National Income

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

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Gross National Product

Monetary value of goods and services by country residents

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Human Development Index

UN metric assessing a country's economic development

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Informal Economy

Untaxed, unmonitored economic activities

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Literacy Rate

Percentage of people able to read and write in an area

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Nonrenewable Energy

Depletable energy sources like fossil fuels

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Renewable Energy

Sustainable energy sources like wind or solar power

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Dependency Theory

MDC wealth at the expense of LDCs

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Microloans

Small, low-interest loans for new businesses

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Commodity Dependence

Economic reliance on a single product

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Comparative Advantage

Efficient economic activity execution compared to others

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Complementarity

Regions satisfying each other's demands through trade

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European Union

European supranational organization promoting trade and unity

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Free Trade Agreement

Treaty eliminating tariffs between countries

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International Monetary Fund

Global economic stability promoter and LDC supporter

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Mercosur

South American trade improvement supranational organization

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Neoliberal Policies

Economic rules for sustained growth and free markets

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Organization of Petroleum Exporting Countries

Oil supply stabilization supranational organization

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Tariff

Tax on foreign goods to promote local purchases

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World Trade Organization

Global trade rules and dispute resolution organization

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Agglomeration

Benefits of companies clustering together

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Deindustrialization

Industrial decline due to cheaper labor elsewhere

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Export Processing Zone

LDC regions with tax breaks for export-focused production

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Foreign Direct Investment

Investment in another country's business interests

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Fordist Production

Mass production with specialized worker tasks

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Free Trade Zone

LDC areas with waived tariffs to attract MNC investments

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Growth Pole

High-tech industry stimulating economic growth

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International Division of Labor

Manufacturing shift from advanced to developing countries

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Just-in-Time Delivery

Inventory strategy to minimize storage costs

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Maquiladora

Mexican factory producing goods for export

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Multiplier Effects

Increased spending leading to greater national income

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Outsourcing

Company operations transfer to external entities or locations

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Post-Fordist Production

Flexible work rules adoption by companies

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Special Economic Zone

Area with unique trade laws to attract foreign investment

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Ecotourism

Tourism supporting conservation efforts in natural environments

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Mass Consumption

Large-scale purchase of standardized products or services

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Natural Resource Depletion

Consuming resources faster than they can replenish

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Sustainable Development

Economic growth without rapid natural resource depletion

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Textile

Fabric or woven material

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Vertical Integration

Different companies in a manufacturing process combining

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Nonbasic Industries

Companies selling goods mainly within a local area

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Basic Industries

Companies selling goods mainly outside the local area

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Post-modern architecture

Architectural style breaking modern architecture rules

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Boomburbs

Rapidly growing suburban city with major city size

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Exurbs

Area outside dense suburbs with economic ties

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Megacity

Metropolitan area with over 10 million population

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Rank-size rule

Population ratio between largest and nth city

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Central business district

Main business area of a town or city

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Multiple nuclei model

City model with individual nodes attracting activities

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Latin American city model

Wealthy residential zones expanding from the center

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De facto segregation

Organic racial segregation without legal enforcement

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Mixed land use

Blending residential, commercial, and other uses

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Smart growth

Planned urban development for reduced environmental impact

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Combined statistical area

Area with linked MSAs and µSAs

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Blockbusting

Real estate tactic exploiting fear of demographic change

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Gentrification

Renovating low-income housing to increase value

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Redlining

Refusing loans based on poverty, now illegal

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Slum

Heavily populated poor area with substandard housing

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Urban renewal

Redevelopment of city areas, often slums

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Brownfields

Formerly industrial sites perceived as environmentally contaminated

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Public housing

Government-subsidized housing for low-income individuals

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Site

Location description based on physical surroundings

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Urbanization

Population shift from rural to urban areas

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Edge city

Large urban area on city outskirts near major road

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Suburbanization

Population shift from urban areas to suburbs

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Primate city

Largest city disproportionately larger than others in region

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Range

Maximum distance people travel for a service

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Market area

Zone containing potential customers for a firm

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Yield

Amount of agricultural product produced in a cultivation area

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Transhumance

Seasonal movement of flocks for grazing

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Extensive agriculture

Uses little labor on large land

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Intensive agriculture

Uses much labor on small land

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Market gardening

Small-scale crop production for local sale

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Nomadic herding

Traveling with animals for grazing

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Ranching

Livestock agriculture over large areas

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Shifting cultivation

Cutting vegetation for soil nourishment, moving periodically

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Tropical climate

Warm, high-precipitation areas near the equator

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Base line

Principal east-west line for land surveys

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Clustered settlement

Houses close to each other's fields

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Linear settlement

Long, narrow settlement along a river or road

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Metes and bounds

Land parcel description system