Economic Geography Concepts

A comprehensive set of 56 flashcards focusing on significant economic geography concepts and terms.

Agglomeration

The spatial grouping of businesses in order to share costs.

Ancillary Activities

Economic activities that surround and support large-scale industries.

Back Offices

Cheaper office spaces typically reserved for non-executive employees.

Backwash Effects

Possible downsides of technopoles including brain drain and loss of tax revenue.

Break-of-Bulk Point

A place where cargo is shifted from one form of transport to another.

Brownfield

Sites of abandoned factories which may contain hazardous waste.

Bulk-Gaining Industry

Industries where the final product is heavier than raw materials.

Bulk-Reducing Industry

Industries where raw materials are heavier than the final product.

Business Park

A congregation of office buildings on a landscape.

Comparative Advantage

A concept suggesting countries specialize in products for export.

Complementarity

Trade when both parties have goods or services that the other wants.

Core Countries

Countries that focus on higher skill, capital-intensive production.

Cottage Industry

An industry based in homes, labor-intensive and inefficient.

Dependency Theory

A theory stating core countries depend on the periphery for resources.

Development

A process of change improving economic and social conditions.

Economy of Scale

Efficiency gained through increased production leading to cost reduction.

Ecotourism

Responsible travel promoting conservation and supporting local populations.

Export Processing Zones

Areas with special regulations benefitting foreign-controlled businesses.

Footloose Firm

A business that can easily relocate due to low operational cost.

Fordism

Mass production system based on assembly line principles.

Foreign Direct Investment

Investments made by a foreign company in another country's economy.

Front Offices

Offices for the executive branch of employees, highly visible.

Gross Domestic Product (GDP)

The value of all finished goods and services produced within a country.

Gender Inequality Index

An index measuring gender disparity in multiple domains.

Gini Coefficient

A measurement of the distribution of income within a population.

Globalization

The spread of businesses, products, and ideas globally.

Gross National Income

Total money earned by a nation’s people and businesses.

Horizontal Integration

Merging of corporations that produce similar products.

Human Development Index

A composite index measuring a country's social and economic development.

Industrial Revolution

A period of technological change increasing manufacturing productivity.

Interdependence

Mutual reliance of two or more entities on each other.

Just-in-Time Delivery

Inventory management method to minimize stock on hand.

Microfinance

Programs providing small loans to entrepreneurs without credit.

Newly Industrialized Country

A country transitioning between developing and highly developed status.

New International Division of Labor

Economic structure differentiating roles of countries based on income.

Offshoring

Locating back office functions in other countries for cost savings.

Outsourcing

Contracting work out to external companies or freelancers.

Periphery Countries

Least-developed countries providing raw materials to core countries.

Post-Fordism

Production system where automation varies product assembly.

Post-Industrial Economy

An economy with reduced factory jobs and increased service jobs.

Primary Sector

Economic sector involved in natural resource extraction.

Quaternary Sector

Knowledge-based sector including research and development services.

Quinary Sector

Highest decision-making level including top government and business officials.

Rostow's Stages of Economic Growth

A modernization model positing a linear progression of economic stages.

Rust Belt

US region affected significantly by post-industrialization.

Secondary Sector

Economic sector concerning the processing of natural resources.

Semi-Periphery Countries

Middle-income countries providing goods to core countries.

Sustainable Development

Development that does not negatively affect future generations.

Sustainable Development Goals

17 UN goals aimed at sustainable futures by 2030.

Technopole

A hub for information and high-tech manufacturing industries.

Tertiary Sector

Economic sector focused on services and information.

Trading Bloc

Groups of countries agreeing on common trade regulations.

Transnational Corporations

Companies that operate across multiple countries.

Vertical Integration

Merging of companies at different stages of the production process.

Weber's Least Cost Theory

Theory predicting the location of manufacturing sites based on resource availability.

Wallerstein's World System Theory

Model proposing interconnectedness of core, semi-periphery, and periphery countries.