Unit 7 vocab

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Gender Inequality Index (GII)

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45 Terms

1

Gender Inequality Index (GII)

A composite index that measures gender-based inequalities in health, education, and economic participation (higher inequality in periphery)

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2

Maternal Mortality Ratio

A measure of the number of maternal deaths per 100,000 live births that occur due to pregnancy or childbirth-related complications.

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3

Adolescent Fertility Rate

The number of live births per 1,000 women aged 15-19 years old in a specific year

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4

Human Development

An index that is used to measure the social and economic development of a country (Determined by analyzing a country's life expectancy, expected year of schooling, and gross national income per capita)

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5

Gender Parity

Economic development generally increases the amount of gender equality in a society

(Women gain more roles in society as the societies advances in the DTM)

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6

globalization

The process by which countries, economies, cultures, businesses, and people become interconnected and interdependent on one another (loss some sovereignty)

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7

Tariff

A tax or duty imposed by a government on goods and services that are imported into the country. (Protect local businesses)

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8

Trade deficit

A situation where a country imports more goods and services than it exports. (Occurs when a country spends more on imports than it earns on its exports)

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9

Neoliberalism

An economic and political ideology that emphasises individual freedom over government control, free markets, and free trade.

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10

Complementarity index

A measure used in economics and trade to assess the compatibility between the products and services that two countries produce and trade with each other

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11

Comparative advantage

An economic concept that refers to the ability of a country, individual, or organization to produce a good or service at a lower opportunity cost than another country. individual, or organization

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12

Commodity dependence

When a country has more than 60% of its total export made of up of just commodities.

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13

Dependency theory

A theory that suggests that developing countries are dependent on developed countries for their economic growth.

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14

Economic restructuring

A significant shift in production, employment, investment, trade patterns, or underlying economic systems and process

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15

Enclosure movement

A movement in England which took agricultural land that was publicly owned by the community and privatised it. (Countered the tragedy of the commons and increased food production)

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16

Offshoring

The process of relocating a business process or service to a foreign country. (Example: Company A moves its manufacturing centers out of the core country and into a semi-periphery country to take advantage of lower labor costs)

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17

Outsourcing

When a business contracts our a service or job to an external provider, in order to reduce their costs and increase their efficiency (Example: Company A outsources their bookkeeping to a professional accounting firm to take advantage of the accounting fums experts)

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18

International division of labor

A concept that describes how countries utilize their comparative advantage to specialize in difference economic activities, resources, and capabilities

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19

Microloans

Small loans provided to individuals or small businesses who are typically excluded from traditional banking services.

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20

Microfinancing

A category of financial services that are for individuals and small businesses who lack access to traditional banking services. (Often includes access to saving account, insurance, or money transfer services)

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21

Multiplier effect

A phenomenon where an original investment by an individual, business, government, or organization leads to a chain reaction of spending and increased economic activity.

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22

Fordism

A system of production that emphasizes mass production of standard goods

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23

Post-Fordham

A system of production that emphasizes more flexible production methods where workers are trained in multiple tasks and produce custom goods.

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24

Just-in-time delivery

A production and inventory control system where products and materials are delivered to the manufacturing plant precisely when they are needed in the production process.

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25

Agglomeration

Clustering of different economic activities and industries in a specific geographic area.

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26

Growth poles

an area where new businesses start up and or businesses locate to participate in the emerging market and or attract investment for a new product and service. Ex. Scillcon valley.

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27

Deindustrialization

The decline of industrial production and manufacturing in an economy or region.

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28

Ecotourism

A form of tourism that focuses on responsible travel to natural areas that conserve the environment and improve the well-being of the local people.

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29

Cottage industry

Small-scale business, typically operated out of a person's home (Individuals typically use traditional techniques and tools to produce custom goods by hand)

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30

Value-added product

Products that have been processed in a way that increases their overall value (Final product can be sold for a higher price than the original raw materials used to make it)

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31

Capital investment

The funds or resources that a company or individual put into an activity, project, or business with the expectation of generating future profits. (New investment opportunities, new economic opportunity for people in periphery / semiperiphery)

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32

Break-of-bulk point

A location where goods are transferred from one mode of transportation to another

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33

Core countries

Countries with the most advanced economies and highest standard of living.

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34

Semi-periphery countries

Countries that have emerging economies that are industrializing

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35

Periphery countries

Countries that still rely heavily on the exportation of raw resources to more economically developed countries.

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36

Gross Domestic Product (GDP)

The total value of all goods and services produced within a country's borders over a specific period of time

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37

Gross National Product (GNP)

The total economic output produced by a country's residents and businesses, regardless of their location, during a specific period of time.

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38

Gross National Income (GNI)

The total amount of income generated by a country's residents and businesses, both domestically and abroad, in a given year

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39

Ecological footprint

The amount of land and resources that are used to support the population of a city. (Thee larger = likely to put strain on natural resources, contribute more to greenhouse gas emissions)

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40

Resource depletion

Refers to the depletion or exhaustion of natural resources as a result of unsustainable practice and excessive consumption.

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41

Degradation

Refers to the deterioration or decline in quality of natural resources or ecosystem due to human activities.

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42

Soil erosion

The warning away and displacement of the upper layer of soil due to human activities, water, wind, or other natural forces.

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43

Desertification

The process by which arable land loses its fertility and becomes a desert.

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44

Soil salinisation

the process of salt accumulating in the soil making it difficult for crops and plants to grow.

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45

Deforestation

The process of clearing a wide geographic area of trees and other vegetation.

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