ap human geo unit 7 vocab

Industry

A group or business that manufactures certain goods and services.

Raw materials

Unprocessed materials used in the production of goods and services.

Industrialization

The process of forming economies through the production and processing of raw materials from the Earth.

Industrial Revolution

The time during the 18th and 19th centuries when rapid industrialization occurred.

Cottage industries

A small scale specialization often found in people's homes, that produce a good or service.

Economic Sectors

Category of economic activity within a certain sector.

Primary sector

Extraction of raw materials and resources.

Secondary sector

The procession of raw materials into products.

Tertiary sector

Focuses on service-based industries such as retail, education, and transportation.

Quaternary sector

High knowledge and skill based services.

Quinary sector

Top of the service chain, people like CEOs and presidents with unparalleled power on the world.

Postindustrial economy

A shift from traditional manufacturing towards service based industries.

Gross Domestic Product (GDP)

Measures a total value of goods and services produced within a country's borders.

Dual economies

A system where there is a modern sector and a rural sector of one economy.

Least-cost theory

By Alfred Weber, focused on reducing transportation and labor costs.

Agglomeration

Bunching together similar industries in a single area.

Break-of-bulk points

Where goods and services are transferred with different modes of transportation.

Bulk-reducing industries

Where the final product of a process weighs less than the raw material.

Bulk-gaining industries

Where a final product has a greater volume or mass than the raw materials.

Industrial parks

A designated area within a city or area for industrial purposes only.

Human development

Improving quality of life for the people, it shows growth in every possible aspect.

Gross National Product (GNP)

The total value of all goods and services produced regardless of whether or not they are produced in the country.

Gross National Income (GNI)

The total amount of money earned by the people and businesses of a country.

Formal sector

The economic aspects of and area that are monitored and recognized by the government.

Informal sector

Any part of the economy that isn't taxed, such as people who are self employed and unregistered small businesses.

Human Development Index (HDI)

A country's average achievements in health, education, quality of life, and other aspects that measure the human development of a country.

Gender Development Index (GDI)

The measurement of gender equality in health, education, and command over economic resources.

Gender Inequality Index (GII)

The measure of gender inequality in a country.

Women's Empowerment

The concept in which women gain awareness of gender inequality and they are given the ability to address social and economic barriers.

Labor-market participation (LMP)

A stat about the percentage of an age group or a gender participating in work.

Microloans

Small loans provided to those in developing countries to help them in starting businesses and to encourage economic growth.

Stages of Economic Growth

Rostow's stages of economic growth model of 5 stages of economic growth - Trad society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption.

Dependency Theory

A theory that states that LDCs have high dependency on foreign factories and tech from MDCs to provide employment and infrastructure.

Commodity dependence

A high proportion of commodities in a country's exports.

Comparative advantage

The ability of a country, group, or other individual to be able to produce goods and services at a lower cost than others.

Complementarity

The relationship between two areas where one can supply goods and services that the other is in need of.

Neoliberalism

A set of economic policies and ideologies promoting market-oriented reforms, deregulation, and minimal state intervention in the economy.

Deindustrialization

The opposite of industrialization, basically going back in time with technological and new industrial activity. - The loss of industrial activity in an area.

Growth poles

A location or a region that is known for a specific good or service, and acts as a center for that thing.

Just-in-time delivery

An efficiency tactic used when specific goods are transported to their area of manufacturing before they are to be processed.

Fordism

A mass production model that was developed by Henry Ford, which implements the use of assembly lines and specialization.

Post-Fordism

A more modern outlook to Fordism, a more flexible and specialized production model involving smaller, more diverse production units, customized goods, and a more fragmented labor force.

Offshore outsourcing

A company's practice of hiring a third-party company or individuals in a foreign country to perform specific services or tasks.

International division of labor

The specialization of tasks within an economic system/country.

Multiplier effects

How an investment or a simple economic activity could lead to a mass chain reaction resulting in increased economic activity and income.

Special economic zones (SEZs)

An area within a country with different economic rules than the rest of the country, to specifically attract foreign investment and exports.

Export processing zones (EPZs)

A designated area in a generally developing or periphery/semi-periphery country to attract investors and exports.

Free trade zones (FTZs)

An area in a country where goods and services can be imported, exported, stored, and manufactured without tariffs and trade restrictions.

Ecotourism

A type of tourism that generally focuses on environmentally friendly practices and benefits local communities and ecosystems.