Industrial and Economic Development Flashcards

Flashcards covering key concepts in industrial and economic development, including sectors of the economy, development models, and related terminology.

The __ sector involves the extraction or harvesting of raw materials from the earth.

primary

The __ sector involves the processing of raw materials into finished goods.

secondary

The __ sector involves the provision of services to the general population.

tertiary

The __ sector involves research, development, and dissemination of knowledge.

quaternary

The __ sector encompasses high-level decision-making and governance roles.

quinary

The __ refers to the socioeconomic transformation from agrarian to industrialized societies.

Industrial Revolution

__ is the transition from an agrarian-based economy to industrial manufacturing.

Industrialization

__ refers to the unique physical characteristics of a specific location.

Site

__ describes the geographic context of a place relative to other locations.

Situation

__ is the clustering of similar industries in a geographic area.

Agglomeration

__ explains industrial location based on transportation costs and labor availability.

Weber's Theory

The __ is used to evaluate the optimal location for industrial activities.

Cost/location of industry formula

__ is the dispersal of industries from a previously concentrated location.

Deglomeration

A __ is an area within a country where specific industries are concentrated.

growth pole

__ like Silicon Valley are known for innovative industries and research institutions.

U.S. growth poles

__ is the total monetary value of all goods and services produced within a country.

Gross Domestic Product (GDP)

__ is the average number of years a person is expected to live.

Life Expectancy

__ is the percentage of people who can read and write.

Literacy Rate

__ is a composite statistic of life expectancy, education, and income.

Human Development Index (HDI)

__ is the total value of goods and services produced by a country's residents, including income earned abroad.

Gross National Income (GNI)

__ is a measure used to quantify gender disparities within a country.

Gender Inequality Index (GII)

__ are global objectives established by the UN to address social, economic, and environmental challenges.

Sustainable Development Goals

__ are developed states with advanced technology and diversified economies.

Core

__ are states that possess characteristics of both core and periphery nations.

Semi-periphery

__ are less developed states relying on primary sector activities.

Periphery

__ suggests that underdevelopment results from economic dependence on developed nations.

Dependency Theory

__ divides the world into core, periphery, and semi-periphery to explain global inequality.

Wallerstein's World Systems Theory

__ posits that all countries progress through five stages of development.

Rostow's Modernization Model

__ produce goods that gain weight during production and are located closer to their markets.

Bulk-gaining industry/Weight-gaining industry

__ are located near the raw material source because the raw materials are heavier than the final product.

Bulk-reducing industry

The __ refers to Hong Kong, South Korea, Taiwan, and Singapore.

Four Asian Tigers

The __ states that industries can vary their expenses as long as labor, agglomeration, and transportation costs do not increase simultaneously.

substitution principle

__ is the influence on an industry's choice of location based on the locations of its competitors.

Locational interdependence

The __ refers to Indonesia, Malaysia, the Philippines, Vietnam, and Thailand.

New Asian Tigers

__ is the ability of one country to produce goods at a lower opportunity cost.

Comparative advantage

__ is the practice of transferring business processes to external service providers.

Outsourcing

An __ is a designated area with tax breaks to encourage export-oriented production.

export processing zone (EPZ)

Similar to EPZs, __ offer special economic regulations to attract foreign investment.

special economic zone (SEZ)

__ is the decline in the importance of manufacturing industries.

Deindustrialization

The __ is the network of organizations involved in producing and delivering goods.

supply chain

__ are the cost advantages achieved by increasing the scale of production.

Economies of scale