APHUG Unit 7 Vocab

Agglomeration

When many businesses or services gather close together in one area.

Break of Bulk

Splitting a large shipment of goods into smaller shipments for different destinations.

Commodity Dependence

Relying mainly on one natural product to make money.

Comparative Advantage

Being especially good at producing one thing compared to others so that everyone can benefit by focusing on their best skill.

Complementarity

Two different things working together so that the combined result is better.

Core-Periphery Model: Core Region

A rich and highly developed area with many industries and services.

Core-Periphery Model: Periphery Region

A less-developed area with fewer industries and limited services.

Core-Periphery Model: Semi Periphery Region

An area that has both developed and less-developed characteristics.

Deindustrialization

The process when factories and big industries close down and the economy shifts away from them.

Dependency Theory

The idea that poorer regions become reliant on richer ones, which can control many aspects of their economy.

Economic Restructuring

Changing the way an economy works by shifting focus from old industries to new types of businesses.

Economic Sectors: Primary

Industries that extract or harvest natural resources.

Economic Sectors: Secondary

Industries that process raw materials to create finished products.

Economic Sectors: Tertiary

Industries that provide services rather than products.

Economic Sectors: Quaternary

Industries focused on knowledge, information, and research.

Economic Sectors: Quinary

Industries involving high-level decision making and leadership, such as government and top management.

Ecotourism

Traveling to natural places to learn about them while protecting the environment.

Export Processing Zone

A special area where goods are made specifically for sale in other countries, often with special business rules.

Fair Trade

Trading in a way that ensures producers receive a fair price and are treated well.

Free Trade Zones

Areas where goods can be imported, stored, and re-exported with few taxes and regulations.

Free Processing Zone

An area where goods are processed (assembled or packaged) for export under simpler rules.

Gender Parity

Ensuring that individuals of all genders have equal rights, opportunities, and representation.

Growth Pole

A central area that sparks economic development in surrounding areas.

Industrial Revolution

A period when machines replaced manual labor, dramatically changing the way goods are made and work is done.

Informal Sector

Jobs and small businesses that operate without official rules or paperwork.

Just in Time Delivery

A method of receiving supplies exactly when they are needed, reducing storage time.

LDC (Less Developed Country)

A nation with lower income, less industrialization, and fewer services for its people.

Microloans

Small amounts of money given to help individuals start or expand a small business.

MDC (More Developed Country)

A nation with strong industry, advanced infrastructure, and a high standard of living.

Multinational Corporation

A large company that operates and sells products in many different countries.

Multiplier Effect

When spending money in one area creates additional spending and job opportunities in other areas.

Outsourcing

Hiring another company or group, often in another country, to perform tasks or produce goods instead of doing them in-house.

Special Economic Zones

Designated areas within a country where economic rules are relaxed to attract businesses.

Standard of Living

The level of comfort and quality of life based on access to goods, services, and resources.

Tariff

A tax on imported goods, often used to protect local industries or generate revenue.

Trade Blocs

Groups of countries that join together to reduce trade barriers and make trading easier.

Example for Agglomeration

Imagine a playground area where several food trucks park together so that people can easily choose from many snack options.

Example for Break of Bulk

Think of a huge box of toys that is unpacked into several smaller packages and sent to different neighborhood stores.

Example for Commodity Dependence

Picture a country that earns almost all its money by selling a single type of fruit.

Example for Comparative Advantage

Imagine one friend who is great at drawing and another who is excellent at math—they trade their skills so each gets help with what they're not as good at.

Example for Complementarity

Consider two ingredients in a recipe that, when mixed, create a tastier dish than either would make alone.

Example for Core-Periphery Model: Core Region

Think of a big, bustling city filled with offices, shops, and fun places that attract lots of people.

Example for Core-Periphery Model: Periphery Region

Imagine a small town with just a few shops and many farms where modern conveniences are scarce.

Example for Core-Periphery Model: Semi Periphery Region

Picture a town that is growing quickly—some parts have shiny new buildings while other parts still look rural.

Example for Deindustrialization

Think about a town where many large factories have shut down, so people need to look for different kinds of work.

Example for Dependency Theory

Imagine a situation where a big kid always lends money to a smaller kid but never helps the smaller kid earn their own money.

Example for Economic Restructuring

Picture a city that once had many factories and now is filled with offices, modern stores, and new types of jobs.

Example for Economic Sectors: Primary

Think of farmers growing crops, fishermen catching fish, or miners collecting valuable minerals.

Example for Economic Sectors: Secondary

Imagine a factory where basic raw materials are turned into bicycles.

Example for Economic Sectors: Tertiary

Consider a local shop, a bank, or a restaurant where people go for services rather than physical goods.

Example for Economic Sectors: Quaternary

Picture a company where people write computer programs or do scientific research.

Example for Economic Sectors: Quinary

Think of a group of high-level managers or government leaders planning big projects or policies.

Example for Ecotourism

Imagine going on a trip to a national park to see wildlife and learn about nature without harming it.

Example for Export Processing Zone

Picture a district where products are assembled and then sent overseas because the local rules make it easier.

Example of Fair Trade

Imagine buying a snack made by a company that ensures the farmers receive a good amount for their hard work.

Example of Free Trade Zones

Think of a harbor district where items are stored safely until they're sent on to other countries without extra taxes.

Example of Free Processing Zone

Picture a special section in a city where parts are put together to create gadgets for sale around the world with minimal fees.

Example of Gender Parity

Imagine a classroom where every student gets the same chance to lead a project, no matter if they are a boy or a girl.

Example of Growth Pole

Think of a busy city that inspires new businesses and helps smaller towns nearby grow.

Example of Industrial Revolution

Picture a time when factories started using machines to produce toys much faster than when everything was done by hand.

Example of Informal Sector

Imagine someone selling homemade lemonade on a busy street without having a formal shop or permit.

Example of Just in Time Delivery

Think of a restaurant that receives fresh ingredients every morning exactly when they start preparing meals.

Example of LDC (Less Developed Country)

Picture a nation where many people struggle because they don't have easy access to clean water, healthcare, or good schools.

Example of Microloans

Imagine someone receiving a small amount of cash to start a tiny business like a stand selling handmade crafts.

Example of MDC (More Developed Country)

Think of a country with modern cities, excellent healthcare, and many job opportunities.

Example of Multinational Corporation

Consider a large company that manufactures products in one country and sells them all over the world.

Example of Multiplier Effect

Imagine buying an ice cream that helps the shop owner pay workers, who then use their earnings to support other businesses.

Example of Outsourcing

Think of a company asking a team from another place to help build parts of its product because they can do it faster or for less money.

Example of Special Economic Zones

Picture an area within a city where new companies can start quickly because the rules are simpler and more welcoming.

Example of Standard of Living

Imagine a family that lives in a nice home with plenty of food, clean water, and easy access to healthcare.

Example of Tariff

Think of a situation where shoes coming from another country cost a little extra because of a tax added by the government.

Example of Trade Blocs

Imagine several neighboring countries agreeing to trade with each other more easily by not charging extra fees.