Unit 7 Vocab AP Human Geo

Industry

Economic activity concerned with the processing of raw materials and manufacture of goods in factories.

Raw materials

The basic material from which a product is made, often extracted or harvested from the earth.

Industrialization

The development of industries in a country or region on a wide scale.

Industrial Revolution

The transition to new manufacturing processes in Europe and the United States, from about 1760 to 1840.

Cottage industries

Small-scale, home-based manufacturing often done by hand.

Economic Sectors

Divisions of the economy based on economic activity: primary, secondary, tertiary, quaternary, and quinary.

Primary sector

The part of the economy that extracts or harvests natural resources (e.g., agriculture, mining).

Secondary sector

The part of the economy concerned with manufacturing and construction.

Tertiary sector

The part of the economy that provides services (e.g., retail, education, health).

Quaternary sector

The part of the economy involved in intellectual activities (e.g., research, information technology).

Quinary sector

The highest level of decision-making in a society or economy (e.g., top executives, government officials).

Postindustrial economy

An economy that no longer relies on heavy industry and manufacturing, but instead on services and information.

Gross Domestic Product (GDP)

The total value of goods produced and services provided in a country during one year.

Dual economies

The coexistence of a modern, industrialized economy and a traditional economy within a country.

Least-cost theory

A theory developed by Alfred Weber that explains the location of industries based on transportation, labor, and agglomeration.

Agglomeration

The clustering of industries in one area for mutual benefit, such as shared services and infrastructure.

Break-of-bulk points

Locations where goods are transferred from one mode of transport to another.

Bulk-reducing industries

Industries where the final product weighs less than the raw materials used to make it.

Bulk-gaining industries

Industries where the final product weighs more than the inputs.

Industrial parks

Areas zoned and planned for the purpose of industrial development.

Human development

The process of increasing people's freedoms and opportunities and improving their well-being.

Gross National Product (GNP)

The total value of all goods and services produced by a country's residents in a given time period.

Gross National Income (GNI)

The total domestic and foreign output claimed by residents of a country, including income from abroad.

Formal sector

The part of an economy that is regulated by the government and based on officially recorded employment.

Informal sector

The part of an economy that is neither taxed nor monitored by any form of government.

Human Development Index (HDI)

A composite index measuring average achievement in key dimensions of human development: health, education, and standard of living.

Gender Development Index (GDI)

Measures gender gaps in human development achievements.

Gender Inequality Index (GII)

Measures gender disparities in reproductive health, empowerment, and labor market participation.

Women's Empowerment

The process of increasing the capacity of women to make choices and transform those choices into desired actions and outcomes.

Labor-market participation (LMP)

The percentage of a specific group (e.g., women) participating in the labor force.

Microloans

Small loans given to individuals, typically in developing countries, to start or expand small businesses.

Stages of Economic Growth

A theory by Walt Rostow that countries pass through five stages of economic development.

Dependency Theory

Suggests that developing countries are dependent on developed countries and this dependence limits development.

Commodity dependence

Economic reliance on the export of primary commodities.

Comparative advantage

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

Complementarity

When two regions specifically satisfy each other's demands through exchange.

Neoliberalism

An economic policy model that emphasizes the value of free market competition.

Deindustrialization

The decline of industrial activity in a region or economy.

Growth poles

Economic development, or growth, is not uniform over an entire region, but instead takes place around a specific pole.

Just-in-time delivery

Inventory strategy companies use to increase efficiency by receiving goods only as they are needed.

Fordism

A system of industrial production designed for mass production and influenced by the methods of Henry Ford.

Post-Fordism

Modern industrial production practices that are more flexible and adaptable than the traditional mass production systems.

Offshore outsourcing

The practice of hiring an external organization to perform some business functions in a country other than the one where the products or services are actually developed.

International division of labor

The specialization of different people, regions, or countries in particular kinds of economic activities.

Multiplier effects

The indirect effects of a direct investment that create additional economic activity.

Special economic zones (SEZs)

Specific areas within a country that have different economic regulations than the rest of the country to attract foreign investment.

Export processing zones (EPZs)

Areas within developing countries that offer incentives and a barrier-free environment to promote economic growth by attracting foreign investment for export production.

Free trade zones (FTZs)

Designated areas where goods can be imported, handled, manufactured, and re-exported without intervention from customs authorities.

Ecotourism

Tourism directed toward exotic, often threatened, natural environments, intended to support conservation efforts and observe wildlife.