Untitled Flashcards Set

Tertiary Sector

Basic services provided, such as retail, hospitality, and health care.

Quaternary Sector

Focuses on information processing and services such as research and consulting.

Quinary Sector

Involves decision-making and specialized tasks, including government officials and researchers.

Deindustrialization

The transition from a manufacturing-based economy to a service-oriented economy, often causing economic decline in some regions.

Rust Belt

Regions in the U.S. that experienced industrial decline and job losses due to factory closures.

Sun Belt

U.S. regions that attracted new industries and population growth due to favorable conditions.

Economic Disparities

The differences in wealth and economic opportunities between industrialized and non-industrialized regions.

Geographic Information Systems (GIS)

Technology that helps optimize business locations based on geographic data.

Outsourcing

The practice of relocating jobs to countries with cheaper labor costs, often impacting job availability in service sectors.

Dependency Theory

The theory suggesting that poorer countries are held back by economic systems established during colonialism, making them reliant on wealthier countries.

High-Tech Cluster

An area that promotes the growth of technology-driven companies, often offering tax incentives and infrastructure support.

Tourism Services

The industry focused on travel for leisure, generating significant economic benefits globally.

Microcredit

Small loans provided to individuals in low-income areas to start or expand businesses.

Human Development Index (HDI)

A measure that assesses development using factors like literacy, education, and income, beyond just GDP.

Islands of Development

Wealthy or developed areas within a larger region of poverty.

Rostow’s Modernization Model

A theory that proposes countries progress through five stages of development, from traditional societies to high mass consumption.

Primate City

A city that is significantly larger and more influential than any other city in the country.

Sustainability

The ability to maintain development levels without depleting resources, ensuring future generations can meet their needs.

Globalization

The increasing interdependence of economies and cultures globally, impacting service industries and job markets.

Financial Services Crisis

The 2008 crisis that highlighted vulnerabilities in interconnected financial markets, leading to a global downturn.

Technopol

A planned area where high-tech companies cluster to benefit from shared resources and proximity to knowledge.