ap hg chapter 18 vocab

Industry

using machines and large-scale processes to convert raw materials to manufactured goods

Raw Materials

basic substances needed to manufacture finished goods

Market

place where products are sold

Cottage Industry

small home-based business making goods

Industrial Revolution

1800's series of technological advantages

Industrial Belt

workforce stretching across midlatitudes (europe etc)

Deindustrialize

decreasing reliance on manufacturing jobs

Rust Belt

northern industrial states, migrating for cheap machine labor

Primary Sector

extraction of natural resources from the earth

Secondary Sector

making products from natural resources

Tertiary Sector

providing info and services to ppl

Quaternary Sector

managing and processing info

Quinary Sector

creating info + making high level decisions

Multiplier Effect

potential of a job to produce additional jobs

Least Cost Theory

key decisions made by businesses ab where to locate factories

Agglomeration Economies

spatial grouping of several businesses to share costs

Locational Triangle

market for a good and two resources needed to make it

Bulk Reducing Factories

producing smth that was much heavier pre production

Bulk Gaining Industries

producing smth small into smth bigger/heavier

Labor Oriented Industry

highly dependant on a workforce

Break of Bulk

transferring cargo from one mode of transportation to another

Containerization

system which goods are loaded into a standard shipping unit

Intermodal

can be carried on a truck, train, ship or place

Footloose businesses

can pack up + leave to a new location easily + quickly

Front Offices

places designed to impress clients

Back Offices

less expensive office spaces

Remittances

money sent to friends + family to the country person left

Gross National Product/Income

$$ of goods + services produced by a country's citizens per year

Gross Domestic Product

$$ of all final goods + services produced within a country in a year

Per Capita

amount per person

Purchasing Power Party

measure of what similar goods cost in diff countries

Formal Sector

portion of the economy that's monitored by gov

Informal Sector

portion of the economy not monitored by gov

Gini Coefficient

measure of income distribution within a pop (range: 0-1)

Life expectancy

average number of years people live

Literacy Rate

% of pop that can read and write

Gender Gap

privilege differences between males + females

Gender Inequality Index

composite measure of several factors indicating gender disparity

Human Development Index

combines GNI w life expectancy, expected yrs of schooling, average yrs of schooling

Non-Governmental Organizations

international non-profit agencies

Microcredit (microfinance)

provide loans to start/expand a business