Unit 7 Study Guide
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298 Terms
Post
Fordism
Complementarity*
mutual benefit of two activities*
Footloose Firm
company not tied to one location
Microfinance
small loans to low
Bulk Reducing
raw material decreases in weight/volume
Globalization*
integration of economies and societies*
Brownfield*
abandoned industrial site*
Quinary*
high
Backwash Effect*
negative impact on periphery regions*
Technopole*
high
Dependency Theory
underdeveloped countries exploited by developed ones
Economy of Scale
cost advantages with increased production
Export Processing Zone
an area with relaxed trade barriers
Bulk Gaining
final product increases in weight/volume
Primary
extraction of raw materials
Ancillary Activities
support services for primary activities
Quaternary*
research and development jobs*
Agglomeration
clustering of businesses for mutual benefit
Secondary
manufacturing and processing of raw materials
Vertical Integration
company controls multiple stages of production
Outsourcing
contracting work to external companies
Tertiary
service sector jobs
Cottage
small
Gini Coefficient
a measure of income inequality
Questions
What are the UN Sustainable Development Goals?
17 goals to end poverty, protect the planet, and ensure prosperity for all.
How many UN Sustainable Development Goals are there?
17 goals.
What is Rostow's model of development?
5
stage model of economic growth.
What is Wallerstein's model of development?
World Systems Theory, core
periphery model.
What is a similarity between Rostow and Wallersteins’ models of development?
Both Rostow's and Wallerstein's models of development are based on the idea of stages of development. Additionally, they both examine development at the national level
Which of these is not a potential impact of the New International Division of Labor on low
income countries?
The potential impacts of NIDL on low
income countries include increased economic growth and job creation, but one potential impact that is not typically associated with NIDL is a decrease in government corruption.
What is a break of a bulk point?
A location where goods are transferred from one mode of transportation to another.
What factors do owners balance?
Transportation, labor, and agglomeration costs.
Least Cost Theory
A model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration
Newly Industrialized Country (NIC).
The term NIC typically refers to countries that have rapidly industrialized and experienced significant economic growth in recent decades, such as Mexico, China, South Africa, and India.
Why is Russia not considered a Newly Industrialized Country?
because it has not undergone the same rapid industrialization and economic growth as other countries that are typically classified as NICs. While Russia has a diversified economy and is a major producer of natural resources, it has faced challenges in modernizing its economy and reducing its dependence on oil and gas exports.
Why is Mexico NIC?
Mexico has a diversified economy and is a major producer of automobiles, electronics, and other manufactured goods. It has also benefited from its proximity to the United States, which is a major trading partner and source of investment.
Why is China NIC?