unit 7

Raw materials

includes metal, wood, plant products, animal products, or other substance that are sued to make goods

industry

any economic activity that uses machinery on a large scale to process raw materials into finished goodsand services.

Industralization

the process by which the ineraction of social and economic facotrs lead to the development of industires across the community, region or country

industrial revolution

begain in britan in the 18th century and spread to other countries in western europe and nother america in the 19th centruy

cottage industries

memebrs of families, spread out through rural areas, worked in thier homes to make goods

economic sectors

collections of industries engaged in similar economic activities based on the creation of raw materials, the production of goods, the provision of services, or other activities

primary sector

activity involving the extraction of natural resources from the earth

secondary sector

associated with the production of goods from raw materials extracted or harvested in the primary sector

teriary sector

it provides servies rather than the finished goods (service sector)

Quaternary sector

portion of teriary sector activites that requires workers to process and handle info and enviormental technology

quinary sector

involves top leaders in governemnt, science, university, non-profit organizations, health care, culture and media

postindustrial economy

economic pattern marked by predominant tertiary sector employment - with a good share of quaternary and quinary jobs

gross domestic product (GDP)

total value of all goods and services produced by countries citizens and companies within a year

dual economies

2 distinct divisions of economic activity across the economic sectors

least-cost theroy

a model that geographers use to analyze spatial patterns in the seconday economic sector

agglomeration

describes the advantages of companies in the same or similar industries in locations near each other in order to take advantage of specialized labor, materials, and services

break-of-bulk-points

locations where it is more economical to break raw materials into smaller units before shipping them further

bulk-reducing industries

in which the raw merials cost more to transport than the finished good

bulk-gaining industries

in which the finished goods cost more to transport than the raw materials

industrial parks

collection of manufactoring facilites in a particular area that typically found in suburbs and is located close to highways to facilitate the movement of raw materials and finished product

human development

the process invovled in the improvment of peoples freedoms, rights, and capabilities, choices and material conditions

gross national product (GNP)

the total value of the goods and services produced by country’s ciotizens and comapnies both domestically and internationally in a year

gross national income (GNI)

per capita the total value of goods and services globally produced by the countryside in a year divided by a countryside population

formal sector

includes businesses, enterprises, and other economic activites that have governemnt supervision, monitoring, and protection and are taxed

informal sector

is part of the economy that is outside of the government monitroring or regulation and is not taxed

human development index (HDI)

a measure that determains the overall development of a country. 3 key dimensions, life expectancy, access to education, GNI

gender development index (GDI)

calculates gender disparity in 3 basic dimensions of human development; health, knowledge, standered of living

gender inequality index (GII)

calculates inequality based on 3 things; reproductive health, empowerment, and labor-market participation

woman empowerment

woman acesses to participate fully in social and economic spheres of a society

labor-free market participation (LMP)

rate measures on an economy’s active labor force and is caluclated by taking the sum of all employed workers and dividing it by the number of working-age population

microloans

very small, short term loans with low interest intended to help people in need

stages of economic growth

a model that suggest that all countries can be categorized on a spectrum from traditional to modern and that to become modern, countries need to pass throuhg distinct stages of economic growth in succesion

dependacy theroy

development challenges and limitations faced by poorer countries and the politcal and ecnomic relationships poorer countries have with richer countries

comparative advantage

the relative cost advantage a country or organization has to produce certain goods or services for trade

complementarity

the mutal trade relationship that exist between two based on the supply of raw materials and the demand for finished product of service

neoliberalism

beleifs that factor free-market capitalism in which trade has no constraints from government

deindustrialization

process by which a country or area reducess industrial activty, particualy in heavy industry and manufacturing

growth poles

a place of economic activity clustered around one or more high-growth industries that simulate economic gain by capilizing on some special asset

commodity dependence

When more than 60% of a country’s exports and economic health are tied to one or more resources such as oil, timber, or plantation crops

just-in-time delivery

a system in which goods are delivedred as needed so that companies keep in inventory only what is need for near-term production

fordism

focues on automation, standerization, economic of scale, and a division of labor in which each worker has just one task

post-fordism

a system of prodcuction that relies on automation through the use of robots and computer systems and is centered on low-volume manufactoring and flexible suystem that allows for quiock responses to changes in the market

offshore outsourcing

condition when one or more aspects of production moves to an orginization in another country

international division of labor

a patter of production and labor in which different countries are engaged in dsitinct aspects of production

multiplier effects

the economic effect in which a change creates a larger change, such as when a new manufactoring plant grows the ecnomy by giving rise to more related jobs and services

special economic zones (SEZ)

an area within a country that offers more favroable ecnomic regulations suchg as tax benefits or no tarrifs to attract foregin business

export processing zones (EPZ)

an area within a country that is subject to more favroable regulations (usually including the elimination of tariffs) to encourage foregin invesment and manufactoring of goods for export

free trade zones (FTZ)

a relatively large georaphical area within a country in which businesses pay few or no tariffs on goods to encourage or facilitate its role in international trade

ecotrousim

a form of tourism based on enjoyment of natural areas that minimize the impact to the enviornemnt

identify (FRQ)

just tell what it is. 1 sentence

Define (FRQ)

provide a specific meaning for a concept and an example. 2 sentences

explain (FRQ)

the answer needs to show the how or why usually these have the words, “because”, “this shows”, or “this proves” in the reponse. 2-3 sentences

describe (FRQ)

provide 2-3 relevant characteristics or attributes about a conecpt or topic. 2-3 sentences

compare (FRQ)

provide a description or explanation of similarites AND differences. 5-6 sentences

Speed

social, political, economical, enviormental, demographic