APHG Unit 7 Vocab

Agglomeration

the clustering of people or activities (like businesses, industries, or services) in a specific location for mutual benefit and economic advantage

Break-of-bulk point

A location where transfer is possible from one mode of transportation to another

Bulk-gaining industry

An industry in which the final product weights more or comprises a greater volume than the inputs

Bulk-reducing

An industry in which the final product weights less or comprises a lower volume than the inputs

Capital

the city where a government is located and operates

Cottage industry

Manufacturing based in homes rather than in factories, most common prior to the Industrial Revolution.

Deglomeration

the process of industrial deconcentration, where businesses disperse from an established, clustered area to new locations

Demand

The quantity of something that people wish to consume and are able to buy

Development

The process of improving the conditions of people through diffusion of knowledge and technology

Ecotourism

a form of responsible travel to natural areas that focuses on conservation, minimizing negative environmental impact, and improving the well-being of local communities

Fordist

the system of mass production and consumption that emerged in the early 20th century, characterized by assembly line manufacturing, standardized products, and a focus on high wages for workers.

Gender empowerment measure

an index from the United Nations Development Programme (UNDP) that measures the extent to which women are empowered in political and economic life. GII replaces this

Gender related development index

Measures the gender gap in the level of achievement for the three dimensions of the Human Development Index: income, education, and life expectancy

Gross Domestic Product

The value of the output of goods and services produced in a country in a year 

Gross National Income

The value of the output of goods and services produced in a country in a year, including money that leaves and enters the country

Gross National Product

A measure of the total value of goods and services produced by a country's citizens, regardless of where they are located

Growth pole

specific areas or regions that are identified as having the potential for significant economic development and growth, driven by concentrated investment, innovation, and infrastructure.

Human Development Index

Determines the level of development of every country

Industrial Revolution

A series of improvements in industrial technology that transformed the process of manufacturing goods.

Industrialization

the process of shifting a region's economy from primary sector activities, like agriculture, to secondary sector activities, such as factory-based mass production

Just in Time Delivery

Shipment of parts and materials to arrive at a factory moments beforethey are needed

Labor

encompasses the physical and mental effort humans use to produce goods and services, with a focus on its spatial distribution and economic role

Labor-intensive industry

an industry for which labor costs comprise a high percentage of total expenses

Least Cost Theory

an economic principle that explains the optimal location of manufacturing industries based on minimizing transportation, labor, and agglomeration costs.

Less developed country

A country that is at a relatively early stage in the process of development

Literacy rate

The percentage of a country’s people who can read and write

Maquiladora

a factory, often foreign-owned, located in Mexico and other developing countries to take advantage of low-cost labor for manufacturing goods for export

Microentrepreneurship

linked to economic development, particularly in the semi-periphery and periphery regions, where small-scale businesses are supported by microfinance initiatives like microloans and savings accounts

More developed country

A country that has progressed relatively far along a continuum of development

New international division of labor

Transfer of some types of jobs, especially those requiring low-paid, less-skilled workers, from more developed to less developed countries.

Outsourcing

A decision by a corporation to turn over much of the responsibility for production to independent suppliers.

Post-Fordist

a modern economic system that replaced Fordism's mass production by emphasizing flexibility, customization, and decentralization

Primary sector

Jobs that includes activities that directly extract materials from earth through agriculture and sometimes by mining, fishing, and forestry

Productivity

The value of a particular product compared to the amount of labor needed to make it

Quaternary sector

a knowledge-based part of the economy focused on information and specialized services like research, development, technology, financial planning, and consulting

Quinary sector

a subcategory of the economy that includes high-level decision-makers and specialized knowledge-based services like government, education, and research

Right to work laws

state-level statutes that prohibit mandatory union membership or dues as a condition of employment, allowing individuals to work in a unionized company without joining the union

Secondary sector

Jobs that include manufacturers that process, transform, and assemble raw materials into useful products as well as industries that fabricate manufactured goods into finished consumer goods

Site factors

Location factors related to the costs of factors of production inside a plant, such as land, labor, and capital.

Situation factors

Location factors related to the transportation of materials into and from a factory

Supply

The quantity of something that producers have available for sale

Tariffs

a tax a government imposes on imported goods to protect domestic industries by making foreign products more expensive

Tertiary sector

Jobs that involves the provision of goods and services to people in exchange for payment, such as retailing, banking, law, education, and government

Textile

a key example of labor-intensive industries that were central to the Industrial Revolution and have since shifted their global location

Trade Bloc

a group of countries that have an agreement to reduce or eliminate trade barriers like tariffs and quotas among themselves to promote economic integration and cooperation

Transnational Cooperation

A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.

Ubiquitous Industry

A market-oriented industry whose establishments are distributed in direct proportion to the distribution of population

Value added

the increase in a product's economic value through processing, packaging, or marketing