AP Human Geography Unit 7

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postindustrial economy

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112 Terms

1

postindustrial economy

a time in which an economy no longer relies on heavy industry and manufacturing, but instead on the offering of services

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assembly line

the product being assembled passes consecutively from operation to operation until completed

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3

fordism

highly specialized and organized mass production at a single site

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4

substitution principle

the tendency to substitute one factor of production for another in order to achieve optimum plant location

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5

maquiladores

export-processing cities that exist in northern Mexico, close to the border with the United States

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6

multinational corporations (MNCs)

A company that conducts different areas of its business in different countries

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7

transnational corporations (TNCs)

A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located

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8

non-basic economic activity

involves services within the community; upper sectors

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9

basic economic activity

does not interact with consumers; primary sector/secondary sector

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10

service sector

tertiary sector

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11

locational interdependence

Theory developed by economist Harold Hotelling that suggests competitors, in trying to maximize sales, will seek to constrain each other's territory as much as possible which will therefore lead them to locate adjacent to one another in the middle of their collective customer base

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12

high technology industry

Companies that support the growth and development of sophisticated technologies

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13

technopoles

an area planned for high technology (usually by government through incentives, near universities where R&D occurs) where agglomeration built on a synergy among technological companies occurs.

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14

spin-off benefits (spread effects)

Positive outcomes in addition to the main outcome

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15

backwash effects

The negative effects on one region that result from economic growth within another region

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16

corporate parks (business parks)

Office buildings and other commercial spaces that congregate together

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17

ecological footprint

impact of a person or community on the environment

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18

reshoring

the relocation of production back to the country where the company is headquartered or where their product is sold from an outsourced overseas manufacturer

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19

offshoring

the practice of moving a business's operational processes or services to another country, often to take advantage of lower costs or labor rates there

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20

International Monetary Fund (IMF)

An international organization that provides financial assistance to member countries

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21

trading bloc

A group of neighboring countries that promote trade with each other and erect barriers to limit trade with other blocs

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22

neoliberalism

Derives from the idea that government intervention into markets is inefficient and undesirable, and should be resisted wherever possible

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23

free trade

allow for goods from foreign countries to be imported without a tariff, that is, without being taxed for the sake of being foreign goods

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24

barter

the form of trade in which a good or service is traded for another good or service, as agreed upon by the people doing the trading

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25

trade

any transaction or exchange of goods and services

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26

non-governmental organization (NGO)

an organization that is not part of the local or state or federal government

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27

commodity

goods, products

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28

gender gap

A difference between men and women in their opportunities, rights, benefits, behavior, or attitudes

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29

Gini Coefficient

a statistical measure that quantifies the extent of income or wealth inequality within a country. It ranges from 0 to 1, where 0 represents perfect equality and 1 represents extreme inequality.

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30

purchasing power parity (PPP)

a measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country

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31

per capita

per person

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32

remmittances

money earned in emigrants´ new country mailed back home

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33

front offices

the income-generating part of an organization that is involved in product sales and marketing

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34

back offices

the main administrative office of a business or other organization

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35
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footloose industry

one which is not tied to any particular location or country and can relocate to another place without effect from factors of production such as resources, land, labour, and capital

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37

intermodal connections

places where 2 or more modes of transportation meet

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38

containerization

The loading and shipping of containers on to ships

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39

labor-oriented industry (labor-dependent industry)

An industry for which labor costs comprise a high percentage of total expenses

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40

sun belt

the name used to describe much of the South and West of the United States. Beginning in the second half of the twentieth century, cities in these regions experienced dramatic population growth as many Americans migrated away from the Northeast and the Midwest

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41

rust belt

the geographic region from New York through the Midwest that was once dominated by manufacturing

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42

industrial belt

A region in which manufacturing activities have clustered together

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43

raw materials (natural resources)

agricultural products that are harvested, extracted, or obtained from the environment

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44

cottage industry

An industry in which the production of goods and services is based in homes, as opposed to factories

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45

market

The area surrounding a central place, from which people are attracted to use the place's goods and services

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46

industry

economic activity concerned with the processing of raw materials and manufacture of goods in factories; not secondary

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47

Industrial Revolution

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

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48

industrialization

The development of industries for the machine production of goods.

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49

colonialism

Attempt to establish settlements in a region for the sake of sending back resources to the native land

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50

imperialism

Attempt to establish economic control over a region for the sake of sending back resources to the native land

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51

primary sector

the part of the economy that draws raw materials from the natural environment

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52

secondary sector

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

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53

tertiary sector

the part of the economy that involves services rather than goods

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54

quaternary sector

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

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55

quinary sector

jobs that consist of high-level decision making for large corporations or high-level scientific research.

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56

Break-of-bulk point

A location along a transport route where goods must be transferred from one carrier to another. (IE. car to a boat)

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57

Weber's Least Cost Theory/Location Triangle

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

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agglomeration

Grouping together of many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labor resources.

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Bulk-gaining industry

Industry that makes something that gain volume or weight during production

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60

Bulk-reducing industry

Industry where the final product weighs less than the inputs

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61

core

The most developed countries of the world in which industries locate themselves

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62

semi-periphery

The newly industrialized countries where the industries locate themselves

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63

periphery

The poorest countries of the world where the industries locate themselves

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64

gross domestic product

all goods & services produced within a country no matter the citizenship

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65

gross national product

all goods & services produced by domestic residents within a country

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66

gross national income per capita

GNP + investments abroad Divided by the number of people in the country

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67

economic sectoral structure

the balance of various economic sectors in order to maximize profits

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68

formal economy

the legal economy that governments tax and monitor (included in GDP)

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69

informal economy

transfers of money, goods, or services that are not reported to the government

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70

income distribution

The division of income among social classes in a country (Higher the disparity the more the development)

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71

fertility rate

the average number of children a woman has, often utilized to measure development

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72

infant mortality rate

The percentage of children who die before their first birthday, often utilized to measure development

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73

fossil fuels

the amount of fuel or gas that a country utilizes, often utilized to measure development

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74

renewable energy

energy from a source that is not depleted when used, such as wind or solar power, often utilized to measure developemtn

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75

literacy rate

The percentage of a country's people who can read and write, often utilized to measure development

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76

Gender Inequality Index

An indicator constructed by the U.N. to measure the extent of each country's gender inequality in terms of reproductive health, empowerment, and the labor market.

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77

reproductive health

Sexual health, autonomy, reproductive freedom/decision-making

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78

empowerment measures

the act of providing women the right of choice and self-interest

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79

labor-market participation

A statistic that determines what percentage of an age group or gender is currently working, utilized to gauge women's rights

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80

Human Development Index

Indicator of level of development for each country, constructed by United Nations, combining income, literacy, education, and life expectancy

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81

microloan

a very small, short-term loan often associated with entrepreneurs in developing countries

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82

Rostow's Stages of Growth

model that theories that economic modernization of countries occurs in five basic stages: Traditional society, Preconditions for take-off , Take-off, Drive to maturity, Age of High mass consumption

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83

Wallerstein's World Systems Theory

Sees the world economy as a flexible core, periphery and semi-periphery

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84

dependency theory

a model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones

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85

commodity dependence

economic dependence on exports of agricultural and mineral raw materials

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86

complementarity

when two regions through an exchange of commodities can specifically satisfy each others demands

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87

comparative advantage

The ability of a country to produce a good at a lower cost than another country can.

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88

neoliberal economic policies

seek to eliminate trade barriers across international boundaries and promote trade

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89

free trade agreements

Pacts between countries that make it easier to trade goods across national boundaries by reducing tariffs

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90

European Union

An international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members.

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91

World Trade Organization

Administers the rules governing trade between its 144 members. Helps producers, importers, and exporters conduct their business and ensure that trade flows smoothly.

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92

Mercosur

An organization that promotes trade and economic cooperation among the southern and eastern countries of South America

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93

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.

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94

government initiative

government plans, at various scales (central, regional, local, provincial, etc.), to help promote economic development.

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95

tariff

A tax on imported goods

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96

global financial crisis

The economic crashes that happened internationally due to the globalization of the world's economy.

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97

international lending agencies

agencies such as the International Monetary Fund, that acts as a bank for the world and provides countries loans

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98

microlending

the practice of loaning small amounts of money to people who intend to start a small business in less developed countries, usually from more developed countries

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99

outsourcing

Hiring workers in other countries to do a set of jobs

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100

Deindustrialization

The decline of manufacturing and factory work and outsourcing it to another country

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