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World Systems Theory
Core, Semi-periphery, Periphery
Agglomentration Economies
companies benefit frombeing close to each other in the same area
Primary Sector
Extraction of natural resources, agriculture, mining
Tertiary Sector
Providing services for others
Secondary Sector
Manufacturing of raw materials
Quaternary Sector
Jobs regarding sharing information, storage and processing
Quinary Sector
Jobs regarding decion making, politicians
Break of Bulk Point
Location where goods are transferred from one mode of transport to another
ex: ports
Least cost theory
Located where labor
Bulk-Gaining Good
Good which gets heavier in production, located closer to the market
Bulk-Reducing Good
Becomes lighter and easier to transport as production occurs, located closer to resources moving less weight saves money
Special economic zone (SEZ)
Part of country where government makes special rules to attract businesses
Export processing zone (EPZ)
Products are made for export rather than local use