APHUG Chapter 18 Flashcards

Industry

The process of using machines and large-scale processes to convert raw materials to manufactured goods

Raw Materials

The basic substances such as minerals and crops needed to manufacture finished goods

Market

A place where products are sold

Cottage Industry

Small, home-based industries that made goods in typically a barter economy

Industrial Revolution

A series of technological advances that started in the 18th century

Industrial Belt

Industrial regions that stretch across the midlatitudes of the northern hemisphere

Deindustrialize

The process of decreasing reliance on manufacturing jobs

Rust Belt

Regions with a large number of closed factories

Primary Sector

Category of jobs where natural resources are extracted from the earth

Secondary Sector

Category of jobs where products are made from natural resources

Quaternary Sector

Category of jobs where information is managed and processed

Quinary Sector

Category of jobs where information is created and high0impact decisions are made

Multiplier Effect

The potential of a job to produce additional jobs

Least Cost Theory

An influential theory by Alfred Weber that explains the key decisions made by businesses about where to locate factories

Agglomeration Economies

The spatial grouping of several businesses to share costs, such as an access road to a public highway

Locational Triangle

A triangle used to show spatial aspects of something. These aspects are represented by the points, which symbolize the market, and the two resources needed to make the good

Bulk-Reducing Industries

Industries where the end product has less bulk than at the BeNiNgIng

Bulk-Gaining Industries

Industries where the end product has more bulk than at the beninging

Labor-Oriented Industry

An industry that is heavily dependent on labor

Break of Bulk

The procedure of transferring cargo from one mod of transport to another

Containerization

The system in which goods are loaded into a standardized shipping unit

Intermodal

This means that the product can be transported on multiple means of transport

Footloose

This means that the company can pack up and leave for a new locations quickly and easily

Front Offices

Expensive, upper floors of skyscrapers in a large city

Back Offices

Less expensive workplaces for the ‘rest’ of the workers

Tertiary Sector

A category of jobs where information and services is provided to people

GNP (Gross National Product)

The dollar amount of all goods and services produced by a country's citizens in one year

GNI (Gross National Income)

The dollar amount of all goods and services produced by a country’s citizens in one year

GDP (Gross Domestic Product)

The dollar amount of all final goods and services produced WITHIN a country in one year

Remittances

The profits from a foreign-owned company were leaving the country and going back to the home country

Per capita

Per person

PPP (Purchasing Power Parity)

A measure of what similar goods cost in different countries

Formal Sector

The portion of the economy that is monitored by government, so people in it follow regulations and pay taxes

Informal Sector

The portion of the economy that is not monitored by the government

Gini Coefficient

A measure of the distribution of income within a population

Life Expectancy

The number of years a person is expected to live

Literacy Rate

The percentage of population that can read and write

Gender Gap

The differences in privileges afforded to males and females in a society

GII (Gender Inequality Index)

A composite measure of several factors indication gender inequality such as reproductive health, the ratio of women in government, and labor market participation

HDI (Human Development Index)

The composite measure that combines one economic measure (GNI per capita) with three social measures (Life expectancy, expected years of schooling, and average years of schooling)

NGOs (Non-governmental Organizations)

Several programs enacted by governments and international non-profit agencies that empower women through microcredit, or microfinance programs

Microcredit (Microfinance)

Loans that are provided to women oftentimes to help start or expand a business