Industrial and Economic Development Patterns and Processes

These flashcards cover key concepts, terms, and theories related to industrialization and economic development learned in the lecture.

Industrialization

The process of developing industries in a country or region.

Urbanization

The movement of people from rural areas to cities, resulting in the growth of urban areas.

Colonialism

The practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.

Imperialism

A policy of extending a country's power and influence through colonization, use of military force, or other means.

Least Cost Theory

A theory that explains the optimal location of a manufacturing firm in relation to the costs of transportation and labor.

Bulk-gaining

Industries that produce products that increase in volume or weight during manufacturing and are located closer to the consumer market.

Bulk-losing

Industries that produce products that decrease in volume or weight during manufacturing and can afford to be located farther from the consumer market.

Transnational Corporation (TNC)

A company that operates in multiple countries, often with a headquarters in one country and subsidiaries in others.

New International Division of Labor

The spatial reorganization of production processes and labor markets, where manufacturing moves from developed countries to developing countries.

Human Development Index (HDI)

A composite index measuring average achievement in key dimensions of human development: health, education, and standard of living.

Ecotourism

Responsible travel to natural areas that conserves the environment, respects local cultures, and promotes sustainability.

Microloans

Small loans provided to individuals in developing countries to help them start or grow small businesses.

Agglomeration economies

Cost advantages that businesses obtain by locating near each other to share resources and infrastructure.

Complementarity

The ability of two or more parties to enhance each other's demand through a trade of goods or services.

Comparative advantage

The ability of a party to produce a particular good or service at a lower opportunity cost than another party.

Gender Inequality Index (GII)

An index measuring gender disparities in reproductive health, empowerment, and the labor market.

Fordism

A system of mass production based on assembly line techniques, characterized by standardized products.

Post-Fordism

A production system characterized by greater flexibility, customization, and reliance on skilled labor.

Structuralist Model

A theory emphasizing the political and economic relationships between countries that control and limit development opportunities.