HGAP Unit 7 - Industrialization and Development

Agglomeration

Clumping together of industries for mutual advantage.

assembly line

Production method that breaks down a complex job into a series of smaller tasks

basic industry

Industry producing goods or services for sale to other regions

break-of-bulk

a location along a transport route where goods must be transferred from one carrier to another.

Brownfeilds

abandoned formerly developed lands that may be contaminated with toxic and other materials

Bulk-gaining industry

Industry that makes something that gain volume or weight during production

bulk-reducing industry

An industry in which the final product weighs less or comprises a lower volume than the inputs.

capital

the account used to summarize the owner's equity in a business

Complementarity

The actual or potential relationship between two places, usually referring to economic interactions.

cottage industry

a method of production in which tasks are done by individuals in their rural homes

deindustrialization

Loss of industrial activity in a region.

economic activities

use of natural resources, production of goods, provision of services, and distribution of information

Primary Sector

The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.

secondary sector

The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.

tertiary sector

the part of the economy that involves services rather than goods

quaternary sector

Jobs that deal with the handling and processing of knowledge and information. Making decisions

export processing zone EPZ

zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment

footloose industry

Industry that locate in a wide variety of places without a significant change in its cost of transportation, land, labor, and capital

fordism (post-fordism)

Form of mass production in which each worker is assigned one specific task to perform repeatedly.

industrial inertia

The refusal of a company to leave its original location even when the reasons that made the location suitable or advantageous have disappeared.

Industrial Revolution

A series of improvements in industrial technology that transformed the process of manufacturing goods.

infrastructure

the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise.

economies of scale

a proportionate saving in costs gained by an increased level of production.

labor-intensive

production that uses a large amount of labor

least-cost theory

Model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.

manufacturing region

a region where manufacturing activities are clustered close together

mass production

Process of making large quantities of a product quickly and cheaply

nonbasic industry

Industries that sell their products primarily to consumers in the community.

outsoucing

using suppliers outside the company to provide goods and services

primary industry

An industry that deals with the extraction of raw materials.

raw materials

the basic material from which a product is made.

site characteristics

Characteristics that result from the unique characteristics of a location, such as land, labor, and capital

situation characteristics

Characteristics that involve transporting materials to and from a factory

secondary industry

Industries that deal with making products that are likely to be directly consumed by individuals.

Weber, Alfred

Creator of the model that states that the optimum location of a manufacturing firm is explained in terms of cost minimization

develped country

A nation with a strong economy, little poverty, and advanced technology.

basic (non-basic industries)

Industries that sell their products or services primarily to consumers outside the settlement

PPP

Purchasing Power Parity. Evens exchange rates between currencies. Compares goods to other countries' goods.

IHDI

Inequality-adjusted human development index, combines a country's average achievements in health, education and income with how those achievements are distributed among country's population by "discounting" each dimension's average value according to its level of inequality.

dependency theory

the notion that resources flow from a "periphery" of poor and underdeveloped states to a "core" of wealthy states, enriching the latter at the expense of the former.

developing country

A country that has low industrial production and little modern technology

economic indicators

statistics that measure variables in the economy

economic development

The improvement of living standards by economic growth.

gross national income

The value of the output of goods and services produced in a country in a year, including money that leaves and enters the country

HDI

Human Development Index, measure of quality of life using factors like life expectancy, literacy, access to clean water, income, etc.

GII

Gender Inequality Index- measures inequality between men and women

LDC

Less Developed Country, A country that is at a relatively early stage in the process of economic development

literacy rate

The percentage of a country's people who can read and write.

market-oriented

The tendency for an industry to locate near population centers in order to save on transport costs, which usually occurs when the final product is more expensive to transport than the raw materials.

MDC

More developed country - country that has progressed relatively far along a continuum of development.

female empowerment

When women and girls acquire the power to act freely, exercise their rights, and fulfill their potential as full and equal members of society (measured in the GII through educational attainment and parliamentary representation)

Gross Domestic Product (GDP)

A measurement of the total goods and services produced within a country.

productivity

The value of a particular product compared to the amount of labor needed to make it.

fossil fuel

Coal, oil, natural gas, and other fuels that are ancient remains of plants and animals.

desalination

the removal of salt from seawater to make it usable for drinking and farming

Rowstow's "Modernization Model"

a model that postulates that economic growth occurs in five basic stages of varying length

subsistence economy

an economic system of relatively simple technology in which people produce most or all of the goods to satisfy their own and their family's needs; little or no exchange occurs outside or the immediate or extended family

sustainable development

economic development that is conducted without depletion of natural resources.

world systems model

1970s; as opposed to the ROSTOW MODEL, this model looks at economic development based on the relationships between countries - the core consists of the economically dominant partners; the sub-periphery and periphery are less dominant and typically contain more basic level employment; they are reliant upon the core

Organization of Petroleum Exporting Countries

An economic organization consisting primarily of Arab nations that controls the price of oil and the amount of oil its members produce and sell to other nations.

renewable energy

A resource that can be replaced when needed.

Non-renewable energy

A resource that cannot be replaced once used.

geothermal

Energy derived from the heat in the interior of the earth

four asian dragons

South Korea, Singapore, Taiwan, and Hong Kong, promoted development by concentrating on producing a handful of manufactured goods.

WTO

The World Trade Organization - an international body that enforces agreements that reduce barriers to international trade; successor to the GATT

world bank

an international bank that offers low-interest loans, advice, and information to developing nations

fair trade

trade in which fair prices are paid to producers in developing countries.

Microfinance

provision of small loans and other financial services to individuals and small businesses in developing countries

G8

The following group of eight industrialized nations: Britain, Canada, France, Germany, Italy, Japan, Russia, and the United States.

G20

forum through which major nations tried to launch a coordinated policy response to the 2008-2009 global financial crisis - group of 20 largest economies in the world