Unit 7 KBAT

Agglomeration – When businesses group together in the same area to benefit from shared services, workers, and infrastructure.
Ancillary activities – Support services that help main industries, like delivery or repair services.
Break-of-bulk points – Places where goods are transferred between different types of transport (like a port or rail yard).
Brandt Line – A visual divide between the rich North (MDCs) and poor South (LDCs) of the world.
Brownfield – Abandoned or unused industrial land that might be polluted.
Bulk-gaining industry – An industry where the final product weighs more than the raw materials (like bottling drinks).
Bulk-reducing industry – An industry where the final product weighs less than the inputs (like copper mining).
Capital – Money or assets used to start or grow a business.
Commodity dependence – When a country relies heavily on exporting one or a few raw materials.
Comparative advantage – The ability of a country to produce something more efficiently than others.
Complementarity – When two areas each have something the other needs, so they trade.
Conglomerate – A big company made up of smaller companies in different industries.
Core-periphery model – A theory that wealthy countries (core) benefit more than poor ones (periphery).
Deindustrialization – When manufacturing declines and economies shift to services.
Dependency theory – The idea that rich countries keep poor countries dependent and underdeveloped.
Development – The process of improving people’s lives through education, income, and health.
Developed country (MDC) – A country with high income, good health care, and education.
Developing country (LDC) – A country with lower income and poorer health care and education.
Economies of scale – Cost savings that happen when companies produce things in large quantities.
Ecotourism – Environmentally friendly tourism that supports conservation and local communities.
Export processing zone (EPZs) – Special areas where goods can be made for export with fewer regulations.
Fair trade – A system that ensures producers in developing countries get fair prices and working conditions.
Free trade agreement – An agreement between countries to trade goods without tariffs or limits.
Footloose (firm) industry – A business that isn’t tied to a specific location, like software companies.
Fordist vs. Post-Fordist – Fordist: mass production in factories; Post-Fordist: flexible, specialized production.
Foreign direct investment (FDI) – When a company invests money in another country to build or buy businesses.
Fossil fuels – Natural energy sources like coal, oil, and gas.
Gender Inequality Index (GII) – A measure of inequality between men and women in a country.
Greenhouse effect – The warming of Earth caused by gases trapping heat in the atmosphere.
Gross Domestic Product (GDP) – The total value of everything made in a country in a year.
Gross National Product (GNP) – GDP plus income earned by citizens abroad.
Gross National Income (GNI) – Similar to GNP, includes income from abroad minus payments to other countries.
Human Development Index (HDI) – A number that ranks countries based on life expectancy, education, and income.
Industrial Revolution – A major change in the 1700s–1800s when machines and factories transformed production.
Infrastructure – Basic systems like roads, electricity, and water that support daily life.
International Monetary Fund (IMF) – An organization that helps countries in financial trouble.
Just-in-time delivery – A method where companies get materials right before they’re needed to reduce storage costs.
Labor-intensive industry – An industry that needs a lot of workers, like farming or clothing.
Literacy rate – The percentage of people who can read and write.
Manufacturing region – An area where many factories and industries are located.
Maquiladora – A factory in Mexico near the U.S. border that assembles goods for export.
Microfinance (microcredit) – Small loans given to people in poor areas to help them start a business.
Multiplier effect – When one economic activity leads to others (like a new factory creating more local jobs).
Natural capital – Resources from nature that provide value, like forests or clean water.
Neo-colonialism – When rich countries control poor ones through business and finance, not military.
New international division of labor – The shift of jobs from developed to developing countries due to globalization.
Newly industrialized countries (NICs) – Countries moving from agriculture to industry, like Brazil or India.
Outsourcing – Sending jobs to other countries to save money.
Periphery – The poorer, less developed part of a region or the world system.
Primary sector – Jobs that involve taking resources from the earth, like farming or mining.
Productivity – How much output a worker or machine produces in a certain time.
Quaternary sector – Jobs in knowledge-based services like tech, research, and education.
Quinary sector – High-level jobs like CEOs, government leaders, and top scientists.
Right-to-work laws – Laws that prevent workers from being forced to join a union.
Rostow’s “Stages of Development” – A model showing how countries move from farming to industrial wealth.
Rust Belt – A U.S. region that lost manufacturing jobs and faced economic decline.
Secondary sector – Jobs that involve making things (manufacturing and industry).
Semi-periphery – Countries that are in-between rich (core) and poor (periphery).
Subsistence economy – An economy where people produce just enough for themselves, not to sell.
Sustainable development – Growing the economy without harming the environment or future generations.
UN’s Sustainable Development Goals – 17 global goals to end poverty, protect the planet, and improve lives by 2030.
Tariffs – Taxes on imported goods to protect local industries.
Technopoles (growth poles) – Areas where tech companies and innovation are clustered.
Tertiary sector – Jobs in services like retail, healthcare, and banking.
Transnational corporation – A company that operates in many countries, like Apple or McDonald's.
Uneven development – When some areas grow faster or better than others.
Value added – The increase in value a product gets as it's made or processed.
Vertical integration – When a company controls all steps of production, from raw materials to final sale.
Wallerstein’s World-Systems Theory – A theory that the world is divided into core, semi-periphery, and periphery countries.
Weber’s least-cost theory – A theory about where businesses locate based on minimizing cost (like transport or labor).
World Bank – An international organization that gives loans to help countries develop.
World Trade Organization (WTO) – An organization that promotes free trade and resolves trade disputes between countries.