APHG Unit 7 Vocab

fair trade

fair trade

a concept that allows for goods from foreign countries to be imported without a tariff

development

a process of improvement in the material conditions of people through diffusion of knowledge and technology

industrialization

the process by which economic activities on the earth's surface evolved from producing basic, primary goods to using factories for mass-producing goods for consumption

standard of living

the quality and quantity of goods and services available to people and the way they are distributed within a population

break-of-bulk point

an economic center, like a dockyard, where a manufactured product is assembled and then separated into various shipments ready to be transported to a wide range of markets

bulk-gaining industry

an industry in which the final product weighs more or comprises a greater volume than the inputs

bulk-reducing industry

an industry in which the final product weighs less or comprises a lower volume than the inputs

core countries

a country that is well- developed with a strong economic base

labor union

an organized association of workers, often in a trade or profession, formed to protect and further their rights and interests

least cost theory

the theory that describes and predicts the location of manufacturing industries based on three factors: transportation costs, labor cost, and the benefit of agglomeration

market

the area surrounding a service from which customers are attracted

periphery countries

countries that have a very low standard of living and low levels of industrial productivity

right-to-work state

a U.S. state that has passed a law preventing a union and company from negotiating a contract that requires workers to join a union as a condition of employment

sectors of the economy

parts of the economy where different jobs take place

semi-periphery countries

countries that have a standard of living lower than those in the “core,” but much higher than those in the “periphery.”

formal economy

the legal economy that is taxed and monitored by a government and is included in a governments gross national product

gender empowerment measure (GEM)

a measure of inequalities between men's and women's opportunities in a country

gender inequality index (GII)

a composite measure reflecting inequality in achievements between women and men in three dimensions: reproductive health, empowerment and the labour market

gender-related development index (GDI)

measures gender inequalities in achievement in three basic dimensions of human development

gross domestic product (GDP)

the total value of goods and services produced within the borders of a country during a specific time period, usually one year

gross national income (GNI)

the monetary worth of what is produced within a country plus income recieved from investments outside the country

gross national product (GNP)

the total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year

human development index

A common statistic used to measure an area's development

informal economy

the part of any economy that is neither taxed nor monitored by any form of government

literacy rate

the percentage of people ages 15 and above who can, with understanding, read and write a short, simple statement on their everyday life

nonrenewable energy

an energy resource that is produced in nature more slowly than it is consumed by humans

neoliberal policies

economic policies that promote free market principles, such as deregulation, liberalization, and privatization

organization of petroleum exporting countries (OPEC)

an intergovernmental organization of 13 oil-producing countries that aims to coordinate and unify the petroleum policies of its member states

tariff

a tax that a government charges people on import and export goods

world trade organization (WTO)

a supranational organization that creates policies on global trading

agglomeration

A localized economy in which a large number of companies and industries cluster together and benefit from the cost reductions and gains in efficiency that result from this proximity

deindustrialization

a process in which the industrial activity in a country or region is removed or reduced because of a major economic or social change

export processing zone

an area set up to enhance commercial and industrial exports by encouraging economic growth through investment from foreign entities

foreign direct investment (FDI)

investments made by a foreign company in the economy of another country

fordist production

a form of mass production in which each worker is assigned one specific task to preform repeatedly

free trade zone

special zones in which all trade barriers between two countries are eliminated

growth pole

the concentration of highly innovative and technically advanced industries that stimulate economic development in linked businesses and industries

international division of labor

transfer of some types of jobs, especially those requiring low-paid, less skilled workers, from more developed to less developed countries

just-in-time delivery

method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production, planning that what they need for longer-term production will arrive when needed

maquiladora

export-processing cities that exist in northern Mexico, close to the border with the United States

multiplier effects

describes the expansion of an area's economic base as a result of the basic and non-basic industries located there

outsourcing

process of moving industrial production or service industries to external facilities or organizations often out of the country

post-fordist production

a term used to describe the growth of new production methods defined by flexible production, the individualization of labor relations and fragmentation of markets into distinct segments, after the demise of Fordist production

special economic zone

an area in a country that is subject to different economic regulations than other regions within the same country

ecotourism

a form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way

mass consumption

a large number of people purchasing large quantities of goods

natural resource depletion

when resources are taken from the environment quicker than they are replenished

sustainable development

the use of natural resources in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs

textile

a type of hand-produced or machine-produced fabric

vertical integration

when one company controls all aspects of its production process

non-basic industries

those which generally sell to residents or businesses already in the region

basic industries

industries that sell their products or services primarily to consumers outside the settlement