world geo unit 3

• Economics

The branch of geography concerned with how people use the Earth’s resources, earn a living, and how products are distributed.

• Demographics / Demography / Demographers

The study of human populations, including size, growth, density, and distribution.

• GDP

Gross Domestic Product

• PPP

Purchasing Power Parity

• Infrastructure

The system of utilities, roads, transportation, and communication networks that support a society.

• Natural Resources

Materials from nature that are used to make goods and provide services.

• Renewable Resources

Resources that can be replenished naturally and reused.

• Nonrenewable Resources

Resources that cannot be replaced once they are used.

• Uneven Distribution

When resources, wealth, or population are spread unevenly across regions.

• Sparse Population

Areas where people are spread out and live far apart.

• Dense Population

Areas where people live close together in large numbers.

• Landlocked

A country that is entirely surrounded by land and has no direct access to the ocean.

• Human Resources

The people who provide labor, skills, and services.

• Human Capital

The knowledge, skills, and abilities that people acquire through education and training.

• Labor

Human effort (physical or mental) used in the production of goods and services.

• Specialization

Focusing on producing certain goods or services more efficiently than others.

• Comparative Advantage

Using people for what they’re good at.

• Capital Resources

Goods or services used to produce other goods and services.

• Capital Goods

Tools, machines, and equipment used to make products or provide services.

• Opportunity Cost

The cost of choosing one opportunity instead of another.

• Scarcity

When there is little of something available compared to demand.

• Tariffs

Taxes on goods coming into a country.

• Embargoes

Bans on trade with certain countries.

• Subsidies

Government financial assistance for companies.

• Supply and Demand

The amount of a product available and the amount of people wanting the product.

• Market Economy

An economy where decisions are driven by supply and demand.

• Capitalism

An economic system where consumers and private individuals control businesses and resources.

• Mixed Economy

An economy with some government involvement alongside private enterprise.

• Socialism

An economic system where the government helps provide and control certain industries, but consumers still have some control.

• Command Economy

An economy where the government makes most economic decisions.

• Communism

An economic system where the government controls all property and resources, and people share equally.

• Trade Surplus

When a country exports more than it imports, making money through trade.

• Trade Deficit

When a country imports more than it exports, losing money through trade.

• Economic Winners and Losers

Groups or individuals who benefit or struggle based on economic changes.

• Baby Box

A box with essentials for newborns, often including a crib or sleeping space.

• Extracting

The farming or extraction of a resource (e.g., farming, mining, fishing).

• Processing / Manufacturing

The making of a good by turning raw materials into finished products.

• Services

Humans working and selling goods or services (e.g., retail, healthcare, education).

• Primary

Gathering or extracting resources.

• Secondary

Using raw materials to make products in factories.

• Tertiary

Providing services.

• Quaternary

Providing advanced services based on knowledge (e.g., research, technology, information services).

• Developing Country

A nation with lower industrialization, lower income levels, and limited infrastructure.

• Developed Country

A nation with advanced industries and a post

• Middle Income Country

A nation with moderate levels of income and development.

• Literacy Rate

The percentage of people who can read and write.

• GDP per Capita

The average economic output per person in a country.

• HDI (Human Development Index)

A measure of development based on life expectancy, education, and income.

• Aging / Greying Population

When a large portion of the population is elderly.

• Immigration

People moving into a country.

• Emigration

People moving out of a country.

• Push Factors

Reasons that drive people to leave a country.

• Pull Factors

Reasons that attract people to move to a country.

• Rural

Areas that are sparsely populated, such as countryside or villages.

• Birth Rate

The number of live births per 1,000 people in a year.

• Death Rate

The number of deaths per 1,000 people in a year.

• Population Growth Rate

How fast a population is increasing or decreasing.

• Infant Mortality Rate

The number of infants who die before age one per 1,000 live births.

• Replacement Rate

The number of children needed per woman to maintain population size (about 2.1).

• Total Fertility Rate

The average number of children a woman is expected to have in her lifetime.

• Dependency Ratio

The ratio of people who are not working (young and elderly) compared to those who are working.

• Baby Boom

A period of greatly increased birth rates.

• Pension System

A system that provides income to people after retirement.

• Population Pyramid

A graph showing the age and sex distribution of a population

• Column Pyramid

Straight sides; shows stable population, typical of developed countries.

• Inverted Pyramid

Narrow base, wider top; shows declining population, typical of aging societies.

• Growing Population / Rapid Growth

Shown by a classical pyramid shape.

• Shrinking Population / Negative Growth

Shown by an inverted pyramid shape.

Classical Pyramid

A wide base and narrow top shows a growing population

Urban

A densely populated area like a city