AP HUG Unit 7 Terms

Industrialization

The establishment of industries focused on manufacturing goods.

Deindustrialization

The reduction of industrial activity, often shifting towards service-based economies.

Free Trade Zone

A designated area where goods can be traded without customs regulations.

GDP (Gross Domestic Product)

The monetary value of all goods and services produced within a nation's borders.

GNP (Gross National Product)

The monetary value of all goods and services produced by a nation's citizens, including overseas contributions.

GNI (Gross National Income)

The total income earned by a nation’s residents, including international earnings.

Break of Bulk Point

A location where goods are transferred between different modes of transportation.

Microloan

A small-scale loan provided to support entrepreneurship, particularly in developing regions.

Comparative Advantage

The ability to produce goods or services more efficiently and at a lower opportunity cost than others.

Growth Poles

Areas of concentrated economic activity that stimulate regional development.

Outsourcing

The delegation of tasks or services to external organizations or individuals.

UN SDGs (United Nations Sustainable Development Goals)

A set of global objectives established by the United Nations to promote sustainable development.

Human Development Index (HDI)

A metric used to evaluate a country’s development based on life expectancy, education, and income per capita.

Gender Inequality Index (GII)

A measure of disparities between genders in areas such as health, empowerment, and labor participation.

Ecotourism

Tourism that focuses on environmental conservation and benefiting local communities.

Primary Economic Sector

Activities involving the extraction of natural resources, such as agriculture, fishing, and mining.

Secondary Economic Sector

Activities that transform raw materials into finished products through manufacturing.

Tertiary Economic Sector

The provision of services to consumers and businesses, including retail and education.

Quaternary Economic Sector

Information-based services, such as research, technology, and data management.

Quinary Economic Sector

High-level decision-making roles often found in government, education, or healthcare.

Core Country

Economically and politically dominant nations with advanced infrastructure and high levels of development.

Semi-Periphery Country

Nations that exhibit characteristics of both developed and developing economies.

Periphery Country

Economically dependent nations with less development and limited global influence.

Postindustrial Economy

An economy primarily focused on services and technology rather than manufacturing.

Dependency Theory

A theory suggesting that developed nations maintain control over less developed nations through economic dependencies.