Unit 7 / Development & Industry / Modules 53-56

assembly line

A system of manufacturing in which parts and procedures are added one step at a time through a series of workstations until a finished product is assembled

base industry

An industry of disproportionate economic importance and on whose existence other industries and employment sectors depend

break-of-bulk point

A location where cargo is transferred from one mode of transportation to another

commodity dependence

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

containerization

The system of intermodal freight transport using shipping containers

core (states)

States that have the most advanced industrial and military technologies, complex manufacturing systems, external political power, and the highest levels of wealth and mass consumption

dependency theory

The theory that the periphery is poor because it was economically dependent on the core in a disadvantageous relationship originally established under colonialism and imperialism

economic sectors

Groupings of industries based on what is produced and the activities of the workforce

formal sector

The part of the economy that is officially recorded with the government

fossil fuels

Natural fuel derived from the fossilized remains of living organisms - petroleum, natural gas, coal

Gender Empowerment Measure (GEM)

A measurement of gender equality that includes the proportion of seats held by women in national parliaments, the percentage of women in economic decision-making positions, and women's versus men's share of earned income

Gender Inequality Index (GII)

A statistical measure of gender inequality that combines data on reproductive health, empowerment, and labor-market participation

gender parity

A way of documenting progress toward gender equality using measures such as relative access to education, average incomes for women versus men, and workforce participation

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

GDP per capita

A country's GDP divided by its total population

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

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

Human Development Index (HDI)

A statistical measure of human achievement that combines data on life expectancy at birth, education levels, and gross national income (GNI) per capita (purchasing power parity [PPP]) population

income distribution

How a country's total GDP is distributed among the individuals in its population

Industrial Revolution

The rapid transformation of the economy through the introduction of machines, new power sources, and new chemical processes in Europe and the United States between 1760 and 1830

informal sector

The part of any economy that is not officially recorded, monitored, or taxed by the government

international division of labor

The situation in which the labor forces of different countries and world regions play complementary roles in an interdependent global economy

labor productivity

The average amount of goods or services produced per worker per unit of time

labor unions

Associations of workers in particular industries established to collectively bargain with capitalists

least-cost theory

Alfred Weber's theory that transportation costs and labor costs play a strong role in determining the location of manufacturing facilities

mass consumption

The purchase of large amounts of mass-produced goods by large numbers of people

mass production

The machine manufacture of large quantities of identical products

microloan

A very small loan to poor people with little income or collateral intended to help them establish or expand a small business

middle class

People who are either salaried professionals (such as lawyers, educators, and physicians) or office wage workers (such as bank tellers and store clerks)

periphery / peripheral states

States that have relatively little industrial development, simple production systems focused mostly on agriculture and raw materials, and low levels of consumption of manufactured goods

primary sector

Industries that extract natural resources from the environment

purchasing power parity (PPP)

Measures how much a common "basket of goods" costs locally in the currency of each country being compared

quaternary sector

The portion of the economy dedicated to intellectual and informational services, such as scientific research and development

quinary sector

The portion of the economy where the highest-level management decisions are made in the areas of business, government, education, and science

secondary sector

Industries that process the raw materials extracted by primary industries, transforming them into finished, usable forms

semi-periphery

Countries or regions whose economies have elements of both the core and the periphery

shipping containers

Standardized, stackable, intermodal metal boxes used to transport goods by ship, railroad, or truck

tertiary sector

Industries that provide services to businesses and consumers, including all the different types of work necessary to transport and deliver goods and resources

textile

A fabric or cloth woven from the fibers of wool, cotton, or flax

working class

The people in an industrial economy who depend on wage labor to obtain the necessities of life

world systems theory

Wallerstein's theory of economic development that regards world history as moving through a series of socioeconomic systems, culminating in the modern world system by about the year 1900