APHuG Vocab Unit 7

Core

developed, industrialized, and technologically advanced countries or regions that dominate global trade, possess high levels of economic productivity, and exert political/cultural influence

Periphery

economically dependent, less-developed countries or regions that provide raw materials, labor, and resources to the industrialized, wealthy "core" regions

Semi-periphery

newly industrialized countries with median-level economies that occupy an intermediate position

Gross Domestic Product (GDP)

the total market value of all final goods and services produced within a country’s borders in a specific year

Gender Inequality Index (GII)

a UN-developed metric measuring gender-based disparities in reproductive health, empowerment, and labor market participation

Human Development Index (HDI)

composite statistic created by the United Nations Development Programme to measure a country's development by going beyond economic growth alone

Free Trade Zones

a specifically designated geographic area within a country where goods can be imported, stored, handled, manufactured, or reconfigured and then re-exported without being subject to standard customs duties or typical government regulations

Globalization

the expansion of economic, cultural, and political processes to a global scale, increasing the interconnectedness and interdependence of people, businesses, and governments worldwide

Outsourcing

the business practice of turning over production, services, or operational tasks to external, third-party suppliers rather than performing them in-house

Literacy Rate

the percentage of a country's population over the age of 15 who can read and write

Tariffs

protectionist trade policies that can disrupt global supply chains, influence trade patterns, and cause international tensions

Gross National Product (GNP)

the total monetary value of all final goods and services produced by a country's residents and companies in one year, regardless of where the production occurs

Gross National Income (GNI)

the total value of all goods and services produced by a country's residents and businesses in a year, including income earned abroad, minus income sent to foreign residents

Eco Tourism

responsible travel to natural areas that focuses on conserving the environment, sustaining the well-being of local people, and incorporating education

Microloans

small, short-term, low-interest loans provided to low-income entrepreneurs, particularly women in developing nations, who lack access to traditional banking

Microfinance

provision of small loans, savings accounts, and financial services to low-income individuals or entrepreneurs in developing nations who lack access to traditional banking

Dependency Theory

an economic development model arguing that global poverty results from rich "core" nations exploiting poor "periphery" nations

Deindustrialization

the sustained decline of industrial/manufacturing activity in a region, characterized by factory closures, job losses, and a shift toward service-based economies

Agglomeration

the spatial clustering of similar or related firms, industries, or people in a single location for mutual benefit, such as shared infrastructure, labor pools, and services

UN’s Sustainable Development Goals

a universal set of 17 interconnected global objectives adopted by all United Nations Member States in 2015 to address pressing social, economic, and environmental challenges by 2030

Fordist Production

a 20th-century industrial system of mass production, characterized by assembly-line techniques, specialized unskilled labor performing repetitive tasks, and the creation of highly standardized products

Post-fordist Production

flexible, decentralized, and specialized manufacturing strategies that emerged in the late 20th century to replace Fordist mass production

Break-of-bulk Point

a location where goods are transferred between different modes of transportation, such as from ship to train or truck

Least Cost Theory

industries locate to maximize profits by minimizing three key costs: transportation (most important), labor, and agglomeration

Rostows’s Stages of Economic Growth

a linear theory that outlines the five sequential steps a country takes to transition from an agricultural society to a service-based, industrial economy

Wallerstein’s World System Theory

a development model dividing the globe into a three-tier hierarchy—Core, Periphery, and Semi-Periphery—based on economic power, industrialization, and exploitation

Fair Trade

an alternative, market-based approach to international trade that emphasizes equity for producers, workers, and artisans in developing countries

Maquiladoras

foreign-owned manufacturing plants, primarily located in Mexico near the U.S. border, that duty-free import raw materials to assemble, process, or manufacture finished goods for export back to the home country

Just-in-time Delivery

a materials management and shipment strategy where parts and raw materials are delivered to a factory moments before they are needed for production

Commodity Dependence

an economic condition, common in developing (periphery) nations, where over 60% of a country's merchandise export revenue comes from raw materials, such as agricultural products, minerals, or energy

Interdependence

the mutual reliance between countries, regions, or economies for resources, goods, services, and labor

Comparative Advantage

the ability of a region or country to produce a specific good or service at a lower opportunity cost—forgoing less of other potential goods—compared to another entity

Complementarity

a foundation of spatial interaction, defining a trade or movement relationship where one location has a surplus of a resource, good, or service that another location demands

Export Processing Zones

designated, often fenced-in, areas within developing countries that offer favorable conditions—such as tax exemptions, lax regulations, and cheap labor—to foreign companies, specifically to encourage export-oriented manufacturing and stimulate economic growth

Manufacturing Zones

designated, concentrated areas within cities or regions—often called industrial zones or zones of agglomeration—strategically located for production

Growth Pole

specific urban centers or regions designed to stimulate economic development, characterized by concentrated investment in high-growth industries (like tech or manufacturing) that trigger multiplier effects, attracting labor and businesses

Greenhouse Effect

the natural process where atmospheric gases (carbon dioxide, methane, water vapor) trap heat radiating from Earth's surface, keeping the planet warm enough for life

Climate Change

significant, long-term shifts in global temperatures and weather patterns, primarily driven by human activities like burning fossil fuels, industrial processes, and deforestation since the 1800s

Total Fertility Rate (TFR)

the average number of children a woman is expected to have during her childbearing years

Infant Mortality Rate (IMR)

the annual number of deaths of infants under one year of age per 1,000 live births

Neo-colonialism

the use of economic, political, or cultural pressures by developed nations (or multinational corporations) to control or influence developing countries, particularly former colonies, without direct military or political occupation

World Trade Organization

a supranational organization established in 1995 that regulates, facilitates, and promotes free trade between nations

Mercosur

a South American trade bloc established in 1991, comprising full members Argentina, Brazil, Paraguay, Uruguay, and formerly Venezuela, aimed at promoting free trade, economic integration, and the free movement of goods, people, and currency

Organization of the Petroleum Exporting Countries (OPEC)

a supranational organization founded in 1960 that coordinates petroleum policies among major oil-exporting nations to stabilize global oil prices and production

International Monetary Fund (IMF)

a global organization of 190+ countries working to foster monetary cooperation, secure financial stability, facilitate international trade, and reduce poverty

World Bank

an international financial institution established in 1944 that provides loans, grants, and technical assistance to low- and middle-income countries to foster economic development, reduce poverty, and fund infrastructure projects

European Union (EU)

a major supranational organization of 27 European nations formed post-WWII to foster economic, political, and social integration

North American Free Trade Agreement

a trilateral trade treaty between the U.S., Canada, and Mexico that created a massive free trade zone by eliminating tariffs on most goods

Special Economic Zones

designated areas within a country operating under distinct, market-oriented economic regulations to attract foreign direct investment (FDI), boost exports, and encourage job creation

Industrial Revolution

transformed agrarian societies into industrialized, urban ones through machine-driven manufacturing

Primary Sector

involves extracting raw materials directly from the earth, including agriculture, mining, fishing, and forestry

Secondary Sector

economic activities that transform raw materials (from the primary sector) into finished, usable goods

Tertiary Sector

the segment of the economy that provides services—rather than producing raw goods—to consumers and businesses

Quaternary Sector

the "knowledge-based" part of the economy focused on intellectual activities, information technology, research and development (R&D), and advanced consulting

Quinary Sector

the highest-level decision-making economic sub-sector, focusing on top-tier leadership, strategic planning, and knowledge-based services