Studied by 86 people
Bid-rent Theory
Geographical economic theory that refers to how the price and demand on real estate changes as the distance towards the Central Business District (CBD) increases.
Capital Intensive
Uses expensive machinery and other inputs. In addition to being capital intensive, it is nearly always labor intensive.
Labor Intensive
Relying on many low-paid migrant workers, to tend and harvest crops.
Factory Farming
A capital-intensive livestock operation in which many animals are kept in close quarters, and bred and fed in a controlled environment.
Aquaculture (aquafarming)
A type of intensive farming. Rather than raising typical farm animals in close quarters with a controlled environment, fish, shellfish, or water plants are raised in netted areas in the sea, tanks, or other bodies of water.
Double Cropping
Planting and harvesting a crop two (or three) times per year on the same piece of land.
Intercropping/Multi-cropping
When farmers grow two or more crops simultaneously on the same field.
Monoculture/Monocropping
Only one crop is grown or one type of animal is raised per season on a piece of land.
Feedlots (CAFOs)
Confined spaces in which cattle and hogs have limited movement, also known as concentrated animal feeding operations (CAFOs).
Agribusiness
Reason for the evolving agricultural landscape. Farms run as corporations, and the globalization of agriculture.
Transnational Corporations
They use large-scale operations that are commercial, highly mechanized, and often use chemicals and biotechnology in raising crops and animals.
Vertical Integration
Ownership of other businesses involved in the steps of producing a particular good.
Economies of Scale
An increase in efficiency to lower the per-unit production cost, resulting in greater profits.
Commodity Chain
A process used by corporations to gather resources, transform them into goods, and then transport them to consumers.
Cool Chains
Transportation networks that keep food cool throughout a trip.
Location Theory
Key component of economic geography, deals with why people choose certain locations for various types of economic activity.
Von Thunen Model
An economic model that suggested a pattern for the types of products that farmers would produce at different positions relative to the market (community) where they sold their goods. Was also the start of location theory.
VT Zone 1
Will be used to produce products that spoil quickly, like fresh fruit, vegetables, and dairy.
VT Zone 2
Would be maintained as a forest, and used for lumber and fuel.
VT Zone 3
Would be used for grains and tubers like wheat or potatoes.
VT Zone 4
One with the cheapest land but highest transportation costs.
Bid-rent Curve
Can be used to determine the starting position for each land use relative to the market, as well as where each land use would end.
Comparative advantage
The ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity.
Free-Market Economy
Where supply and demand determine the outcome of competition for land-the farmer who will have the greatest profit will pay the most at each location to occupy the land.
Von Thunen Model Assumptions
Main Assumptions were that agricultural land use is formed as concentric circles around the central market; the latter consumes all the surplus production, which must be transported from the rural areas to the market.
5 Criticisms of Von Thunen Model
Been criticized that it does not consider differences in local, physical conditions since it has been developed in an isolated state.
Supply Chain
All the steps required to get a product or service to customers.
Interdependence
The dependence of two or more people or things on each other.
Luxury Crops
Are not essential to human survival but have a high profit margin.
Ways Rich Countries Exploit Poor
Industrial raising of livestock, which is then imported by the wealthy nations.
Neocolonialism
The use of economic, political, and social pressures to control former colonies, can be one way to describe the current state of global food distribution.
Fair Trade
Trade between companies in developed countries and producers in developing countries in which fair prices are paid to the producers.
Fair Trade Movement Principles (5)
(1)Transactions directly between the producer and the importer ensure more money to the producer. (2)Fair price paid promptly to farmers by importers. (3)Decent conditions are provided for laborers. (4)Environmental sustainability that required farmers to use environmentally safe practices. (5)Respect for local culture through shared agricultural techniques with farmers.
Subsidies
Are designed to achieve the goals the government believes are in the best interest of the public.
Infrastructure
Global systems for agriculture would not be possible without this. Includes all means of communications of a country.
Ghana Vision 2020
Vision is to become a middle-income country by 2020 through human development, economic growth, rural development, urban development and an enabling environment.
