Key Concepts of the Industrial Revolution and Economic Sectors

Industrial Revolution

Began in England (1700s), fueled by coal and iron, leading to major technological advancements.

Bessemer Process

Faster steel production method.

Steam Engine

Allowed quicker transportation and powered factories.

Spinning Jenny

Increased textile production.

Primary Sector

Extracts raw materials (farming, fishing, mining).

Secondary Sector

Manufactures goods (factories, construction).

Tertiary Sector

Provides services (retail, healthcare, banking).

Quaternary Sector

Knowledge-based jobs (IT, research, consulting).

Quinary Sector

High-level decision-making (CEOs, government leaders).

Urbanization

Growth of cities due to factory jobs.

Deindustrialization

Decline of manufacturing, especially in areas like the Rust Belt.

Sunbelt

Region in the U.S. that grew due to technology and population increases.

Traditional Society

Farming-based, little technology.

Precondition for Take-Off

Infrastructure and specialization develop.

Take-Off

Rapid industrial growth, urbanization.

Drive to Maturity

Economy diversifies, technology improves.

High Mass Consumption

Service-based economy, high living standards.

Core Countries

Wealthy, advanced technology, high education (USA, Germany).

Semi-Periphery Countries

Industrializing, mix of rich/poor areas (China, Mexico).

Periphery Countries

Provide raw materials, low wages, little industry (Ethiopia, Haiti).

GDP (Gross Domestic Product)

Total value of goods/services produced in a country.

GNI (Gross National Income)

GDP plus international earnings.

HDI (Human Development Index)

Measures life expectancy, education, and income.

Comparative Advantage

A country produces a good more efficiently than others.

Tariff

Tax on imports to protect local businesses.

Free Trade

No tariffs or restrictions on international trade (e.g., EU, WTO).

Weber's Least Cost Model

Industries choose locations to minimize labor, transportation, and agglomeration costs.

Bulk-Gaining Industry

Gets heavier after production (e.g., cars) → Located near customers.

Bulk-Reducing Industry

Gets lighter after production (e.g., paper) → Located near raw materials.

Fordism

Mass production using assembly lines (early 1900s).

Post-Fordism

Flexible production, outsourcing, and just-in-time delivery.

Outsourcing

Moving jobs to countries with cheaper labor.

SEZs

Areas with relaxed business laws to attract investment (e.g., Shenzhen, China).

Maquiladoras

Factories near U.S.-Mexico border that produce goods for export.

Sustainable Development

Economic growth that does not harm future resources.

Ecotourism

Environmentally friendly tourism that preserves nature.

United Nations Sustainable Development Goals (SDGs)

Goals to reduce poverty, protect the environment, and improve global living standards by 2030.