ap hug unit 6

Industrial Revolution

The term applied to the rapid economic and social changes in agriculture and manufacturing that followed the introduction of the factory system to the textile industry of England in the last quarter of the 18th century

Industrialization

The development of industries in a country or region on a wide scale.

Diffusion

The spread of a feature or trend from one place to another over time

Colonialism

An attempt by one country to establish settlements and impose its political, economic, and cultural principles in another territory

Primary Sector

The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry

Secondary Sector

The portion of the economy concerned with manufacturing useful products through processing, transforming and assembling new products

Tertiary

The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people, in exchange for payment

Quaternary Sector

The portion of the economy concerned with he collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services

Least Cost Theory

The view that the optimum location of a manufacturing establishment is at the place where the costs of transport and labor and advantages of agglomeration or deglomeration are most favorable.

Hotelling's Location Theory

A theory in economics that in many markets it is rational for producers to make their products as similar as possible

Labor Costs

The sum of all wages paid to employees, as well as the cost of employee benefits and payroll taxes paid by an employer. The cost of labor is broken into direct and indirect costs

Transportation Costs

Agglomeration

The spatial grouping of people or activities for mutual benefit.

Deagglomeration

The process of breaking up or dispersing that which has agglomerated, or aggregated, or clustered together.

Bulk-gaining Industry

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

Break-reducing

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

Gross National Income (GNI)

Calculation of the monetary worth of what is produced within a country plus income received from investments outside the country

Gross National Product

the total value of goods and services produced by the citizens of a country per year, both within the country and abroad.

Sectorial Structure

Of the large sectors within an economy, the first is called the primary sector and involves companies that participate the extraction and harvesting of natural products from the earth, such as agriculture, mining and forestry. The secondary sector consists of processing, manufacturing and construction companies

Income Distribution

How income is divided among different groups or individuals.

Human Development Index

A composite statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development.

Female Labor Participation Rate

The percentage of females participating in the labor force

Fertility Rates

The average number of children a woman of childbearing years would have in her lifetime, if she had children at the current rate for her country

Infant Mortality Rates

The number of deaths per year of infants less than one year old for every 1000 live births

Literacy Rates

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

Maternal Mortality Rate

The ratio of the number of maternal deaths during a given time period per 100,000 live births during the same time-period

Gender Inequality Index

A United Nations index, introduced in 2010, which measures a country's loss of achievement due to gender inequality, based on reproductive health, employment, and general empowerment.

Indices of empowerment

The Gender Empowerment Measure (GEM) is an index designed to measure of gender equality.

Development

A process of improvement in the material conditions of people through diffusion of knowledge and technology

Millennium Development goals

The world's time-bound and quantified targets for addressing extreme poverty in its many dimensions-income poverty, hunger, disease, lack of adequate shelter, and exclusion-while promoting gender equality, education, and environmental sustainability

Core

Processes that incorporate higher levels of education, higher salaries, and more technology; generate more wealth than periphery processes in the world economy.

Periphery

Processes that incorporate lower levels of education, lower salaries, and less technology; and generate less wealth than core processes in the world-economy

Semi-periphery

Places where core and periphery processes are both occurring; places that are exploited by the core but in turn exploit in periphery

Neo-Colonization

A disparaging reference to economic and political policies by which major developed countries are seen to retain or extend influence over the economies of less developed countries and peoples.

Microloans

A very small, often short-term loan made to an impoverished entrepreneur, as in an underdeveloped country

Comparative advantage

The principle that an area produces the items for which it has the greatest ratio of advantage or the least ratio of disadvantage in comparison to other areas, assuming free trade exists

Complementary

When two regions, through trade, can specifically satisfy each other's demands.

Trading Bloc

A group of neighboring countries that promote trade with each other and erect barriers to limit trade with other blocs.

European Union

Europe's trading bloc free trade amount the members of the union. As well as a single European currency the euro and a central bank.

Global Financial Crisis of 2008

International monetary recession, worst financial crisis since the Great Depression

North American Free Trade Agreement (NAFTA)

A trade agreement between Canada, the United States and Mexico that encourages free trade between these North American countries.

Globalization

A reference to the increasing interconnection of all parts o the world as the full range of social, cultural, political, and economic processes becomes international in scale and effect.

Newly Industrialized Countries (NIC)

Historically less-developed countries that has experienced significant economic growth

BRICS

The five major emerging national economies: Brazil, Russia, India, China and South Africa

Outsourcing

The physical separation of some economic activities from the main production facility, usually for the purpose of employing cheaper labor.

Export Processing Zones

Areas where government create favorable investments and trading conditions to attract export-orientated industries.

Manufacturing Zones

Manufacturing, curing, compounding, processing, packaging or production and treatment of normal household appliances, commodities; consumer items and foods which do not involve heavy industrial processes.

Silicon Valley

An area which is highly modernized, attracting many high tech companies that provide services , a region in California south of San Francisco that is noted for its concentration of high-technology industries

Deindustrialization

Process by which companies move industrial jobs to other regions with cheaper labor, leaving the newly deindustrialized region to switch to a service economy and to work through a period of high unemployment.

Special economic zones

Zones with different economic laws

designated regions in china where foreign investment is encouraged, businesses can make own production decisions and foreign companies are allowed to operate

Free trade

International trade left to its natural course without tariffs, quotas, or other restrictions.

Maquiladoras

Factories built by the US in Mexico, near the US border to take advantage of the much lower labor costs in Mexico

Research Triangle

A region in the Piedmont of North Carolina in the United States, home to numerous high-tech companies and enterprises

Rust Belt

The northern industrial states of the United States, including Ohio, Michigan, and Pennsylvania, in which heavy industry was once the dominant economic activity. In the 1960s, 1970s, and 1980s, these states lost much of their economic base to economically attractive regions of the United States and to countries where labor was cheaper, leaving old machinery to rust in the moist northern climate.

Sun Belt

U.S. region, mostly comprised of southeastern and southwestern states, which has grown most dramatically since World War II.

Sustainable development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs

Natural resource depletion

When resources are used up in an area. Non-renewable resources (like oil and trees) will eventually be depleted while renewable resources (things like wind and sun) typically are not entirely depleted.

Mass consumption

The use or purchase of goods or services by a large number of people. 'industrialization allowed for mass consumption of material goods'

Pollution

The presence in or introduction into the environment of a substance or thing that has harmful or poisonous effects.

Eco-tourism

A form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way

Chlorofluorocarbons

A gas used as a solvent, a propellant in aerosols, a refrigerant, and in plastic foams and fire extinguishers

Acid Rain

Conversion of sulfur oxides and nitrogen oxides to acids that return to Earth as rain or fog

Greenhouse effect

The anticipated increase in Earth's temperature caused by carbon dioxide trapping some of the radiation emitted by the surface

Deforestation

The destruction of forest or forested areas by human or natural means. Some notable human-based causes are slash and burn agriculture and production of forest products

Climate Change

A change in global or regional climate patterns attributed largely to the increased levels of atmospheric carbon dioxide produced by the use of fossil fuels.

Imperialism

Attempt by one country to establish settlements and to impose its political, economic, and cultural principles in another territory.

Microfinance

A general term to describe financial services to low-income individuals or to those who do not have access to typical banking services

Fair Trade

An alternative to international trade that emphasizes small businesses and worker-owned and democratically run cooperatives and requires employers to pay workers fair wages, permit union organizations, and comply with minimum environmental and safety standards