eagtrsgf

agglomeration

the grouping of industries

break-of-bulk point

change in freight; trains to trucks

climate change

unnatural warming of the atmosphere due to greenhouse gasses

colonialism (for development)

affects the development of former colonies

commodity dependence

large portion of GDP is raw materials

comparative advantage

what a country can do better or cheaper

complementarity advantage

state's exports compliment each other, A makes peanut butter, B makes Jelly (Thanks B!)

complex commodity chain

all of the steps in the production of goods from raw materials to markets

containerization

standardized shipping containers; created global trade network

core

the rich counties, NA, WE, AT, Japan and the two down under

cumulative causation

profit to investment,=economic activity=profit, repeat

debt for nature swaps

forgive loans in LDCs to protect the natural environment

deindustrialization

the closing of factories in the core and outsourcing to periphery

dependency theory

periphery cannot develop because of dependence on core

Division of Labor

labor divided by specialization

economic restructuring

shifting economies; manufacturing to services

economic sectors

primary, secondary, tertiary, quaternary, quinary (can you define them?)

economies of scale

producing more lowers the cost of production

ecotourism

promoting tourist to natural environments; rainforests

empowerment measures

workforce participation, years of schooling, seats in government

European Union

supranational free trade and open borders

export processing zones

SEZ near coasts for exports

foreign direct investment

core invests in periphery by building factories in SEZs

formal economy

regulated and taxed

fossil fuels

access affects development, coal, oil natural gas

free trade agreements

limits taxes or tariffs between countries

free trade zones

zones of a country with no taxes or tariffs

Gender Inequality Index

workforce, fertility, parliament

global financial crises

recession that affect the world (no growth in GDP)

globalization

all economies are interdependent

gross domestic product

total amount of goods and services INSIDE a country

gross national income

goods and services AND FDI

growth pole

technically advanced industries cause agglomeration; research hospital

high-technology industry

software, pharmaceuticals

Human Development Index

3 E's economic AND social development

imperialism

Affected the development of Asia and Africa

industrialization

starts development, creates middle class

Industrial Revolution

Started in UK and the West, created the core-periphery

informal economy

not regulated or taxed, more in the periphery

international division of labor

until 1970 core manufactured, the periphery raw materials

just-in-time delivery

making parts on demand instead of storing them

Alfed Weber's least cost theory

factory location based on bulk-gaining or bulk-reducing

mass consumption

GDP is driven by consumer spending

Mercosur

south American economic trade bloc

microloan

loans made to LDCs by individuals in MDCs; sewing machine

Neoliberalism

free trade, open markets, private ownership;

newly industrialized countries

NICs, semi-periphery, Brazil, India, Mexico, China

Organization of Petroleum Exporting Countries

supranational gives LDCs control of oil

per capita

per person; GDP per capita

outsourcing/offshoring

moving factories and other jobs from core to periphery

periphery

the least developed countries

post-Fordism

IDL and NIDL

primary

raw materials, farming mining forestry fishing

quaternary

(a branch of tertiary) information services, doctor, research scientists

quinary

(a branch of tertiary), very highly skilled, decisions that affect a lot of people, surgeons, CEOs

renewable energy

solar, wind, geothermal, hydroelectric, these still have environmental impacts

reproductive health

maternal mortality and AFR

Rostow's Stages of Economic Growth

5 stages, all states independent (closed) economies

secondary

industrial manufacturing includes early and mature industrial

semi-periphery

NICs, BRICs,mature industrial countries

service sector

tertiary, retail, business, commercial, information

special economic zones

regions of a country with few laws or restrictions on industry

sustainable development

improves standards of living but protects the environment

UN Sustainable Development Goals

end poverty, equality for women, protect the environment

tariff

tax on imports

tertiary

services sector of the economy, ALL services

Wallerstein's World System Theory

core-periphery world order was created by Col and Imp

World Trade Organization

supranational, sets trade deals between countries, encourages neoliberalism