Unit 7 Study Guide

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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?