Fossil Fuels and Economic Concepts

A collection of flashcards focused on key concepts related to fossil fuels, economic theories, and sustainable practices.

What are fossil fuels?

Oil, Coal, Natural Gas.

What has been the impact of the use of fossil fuels on the environment?

Current trends in climate change due to increased fossil fuel use, atmospheric pollution, and depletion of resources.

How is reliance on fossil fuels an obstacle to sustainable development?

It depletes global resources and contributes to environmental degradation, hindering long-term sustainability.

What is OPEC?

Organization of Petroleum Exporting Countries.

What country is the largest supplier of petroleum to the United States that is not a member of OPEC?

Canada.

What is Fracking?

A method to extract natural gas and oil by injecting high-pressure fluid into rock formations.

What are the positives of fracking?

Increases access to natural gas and oil, and may reduce energy costs.

What are the negatives of fracking?

Environmental risks including groundwater contamination and seismic activity.

Define Agglomeration.

Clustering of similar economic activities or industries within a specific area.

What are the benefits of agglomeration?

Improved efficiency, reduced costs, and enhanced collaboration among clustered industries.

Define Just-in-Time delivery.

Inventory management process where manufacturers keep only what’s immediately needed.

Where do Just-in-Time delivery industries prefer to locate?

Near transportation hubs for efficient logistics.

What is the relationship between Maquiladoras and Special Economic Zones?

Both are linked to outsourcing and aim to increase jobs in newly industrialized nations.

Define Fordist production.

Mass production of standardized goods using assembly line techniques.

What was the significance of Fordist production?

It led to more efficient factories and the growth of the manufacturing industry.

Define Post-Fordist production.

Production techniques that are more flexible and focused on customization rather than mass production.

What is Ecotourism?

Tourism that emphasizes experiencing nature while protecting the environment.

What is the purpose of adopting ecotourism practices?

To support sustainable local economic development and environmental preservation.