underdeveloped countries exploited by developed ones
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Economy of Scale
cost advantages with increased production
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Export Processing Zone
an area with relaxed trade barriers
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Bulk Gaining
final product increases in weight/volume
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Primary
extraction of raw materials
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Ancillary Activities
support services for primary activities
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Quaternary*
research and development jobs*
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Agglomeration
clustering of businesses for mutual benefit
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Secondary
manufacturing and processing of raw materials
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Vertical Integration
company controls multiple stages of production
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Outsourcing
contracting work to external companies
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Tertiary
service sector jobs
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Cottage
small
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Gini Coefficient
a measure of income inequality
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Questions
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What are the UN Sustainable Development Goals?
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17 goals to end poverty, protect the planet, and ensure prosperity for all.
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How many UN Sustainable Development Goals are there?
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17 goals.
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What is Rostow's model of development?
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5
stage model of economic growth.
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What is Wallerstein's model of development?
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World Systems Theory, core
periphery model.
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What is a similarity between Rostow and Wallersteins’ models of development?
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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
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Which of these is not a potential impact of the New International Division of Labor on low
income countries?
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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.
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What is a break of a bulk point?
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A location where goods are transferred from one mode of transportation to another.
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What factors do owners balance?
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Transportation, labor, and agglomeration costs.
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Least Cost Theory
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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
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Newly Industrialized Country (NIC).
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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.
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Why is Russia not considered a Newly Industrialized Country?
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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.
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Why is Mexico NIC?
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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.
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Flashcard (26)