APHUG Unit 7

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28 Terms

1

Gross National Product (GNP)

The total value of all the goods and services made by a country's residents and businesses in a specific time period, regardless of the country or location in which they were made.

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2

Gross National Income (GNI)

The total income of a country's residents and businesses, including investment income, regardless of where it was earned, as well as money received from abroad such as foreign investment and development aid.

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3

Gross Domestic Product (GDP)

The total value of all goods and services produced within a country over a specific period, regardless of the producer's national origin.

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4

GDP per capita

Countries total GDP/population.

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5

Gender Inequality Index (GII)

A statistical measure of gender inequality that combines data on reproductive health (MMR - the number of mothers who die in childbirth for every thousand births, AFR - number of births per 1000 women ages 15-19), empowerment (Number of women that hold government positions, and number of women who gain higher education), and labor-market participation (women's participation in the workforce).

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6

Human Development Index (HDI)

A statistical measure of human achievement that combines data on life expectancy at birth, education levels (expected years of schooling), and GNI per capita (PPP) population.

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7

Commodity Dependence

Occurs when commodities account for more than 60% of the value of a country's total exports.

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8

Least Cost Theory

If there is a bulk-reducing industry - input (raw materials) heavier than final product, needs to be near the source of the inputs. Bulk-gaining industry - final product weighs more than inputs, need to be located near the market.

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9

Transportation Cost

Determiner for the location of industries based on the weight of inputs versus final products.

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10

Labor Costs

Cheaper labor can sometimes offset high transportation costs.

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11

Agglomeration

Benefits of industries clustering together to share resources and services.

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12

World-Systems Theory

Proposed by Wallerstein, it divides the global economy into three sectors: Core, Periphery, and Semi-Periphery.

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13

Core Economies

Dominant developed countries controlling global trade, exploiting weaker nations for resources. Examples include the US, Germany, and Japan.

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14

Periphery Economies

Less developed with weaker economies, depend on core countries for stability. They export raw materials and rely on agriculture/cheap labor costs. Examples include African, Latin American, and Asian countries.

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15

Semi-Periphery Economies

Between core and periphery, have more developed industries but are less dominant. Examples include China, Brazil, and India.

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16

Traditional Society

The economy is subsistence-based, focused mainly on agriculture and basic tools. Most people work in farming, with few resources invested in other sectors.

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17

Preconditions for Take-Off

Introduction of more productive agriculture, basic infrastructure, and investment in education.

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18

Take-Off

Rapid economic growth and industrialization as economies invest in new technologies and industries.

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19

Drive to Maturity

Economic diversification: industries expand beyond initial focus areas into more complex manufacturing.

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20

Age of High Mass Consumption

Shift from industrial manufacturing to services, with an emphasis on consumer goods like automobiles, electronics, and luxury products.

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21

Criticisms of Rostow's Theory

Includes linear progression assumption, western-centric model, overlooks external factors, and economic over-simplification.

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22

Primary Sector

Raw materials and physical labor, including mining for coal and farming.

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23

Secondary Sector

Manufacturing and industrial activities.

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24

Tertiary Sector

Services, which make up most of the US economy, including office work and banking.

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25

Quaternary Sector

Knowledge-based activities, including information technology, education, research and development, and consulting.

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26

Quinary Sector

Highest levels of decision-making in a society or economy, including top executives or officials in government, science, and healthcare.

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27

Women and Development

Women work more in primary, secondary, and tertiary economies and are found less in quaternary and quinary sectors.

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28

Labor Force Participation

70% or more of women are employed in agriculture, with the lowest percent of women participating in the labor force in the Middle East.

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