Industrial revolution: period of transition for making things by hand to machine

Industrialization: process of mechanization

Natural resources: raw materials

Industrial jobs: secondary sector, manufacturing and work in factories and deliver products

Class structure: 

Investors: give money to support businesses in order to receive benefits from business’ success

raw materials: resources that come from the environment, primary sector

Colonialism: to control the people in a specific region or area while living there

Imperialism: to have force over other people in a specific region or area

Economic sectors

Primary: raw materials, agriculture

Secondary: manufacturing and producing products

Tertiary: retail sales, medical

Quaternary: data analysis, research

Quinary: CEO, president

Shipping containers: containers used to transport goods and products

Break-of-bulk point: procedure of transferring cargo from 1 mode of transport to another (ex. From boat and truck)

Least cost theory (Alfred Weber): theory used to determine where to place a factory

Core: most developed out of the countries, highly advanced technology

Periphery: least developed out of the countries, little to no technology and advanced infrastructure, low income, low wages

Semi periphery: developing countries, some technology, advancing

Gross Domestic Product: 

Gross National Product: 

Gross National Income per capita: 

Income distribution: 

fertility rate: the average number of children born per woman in a specific region or area

infant mortality rate: how many babies per 1000 children die before their first birthday

Fossil fuels: nonrenewable resources that create pollution

renewable energy: sustainable sources of energy that are better for the environment

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

Gender inequality: the biases that exist between men and women within a country

Gender Inequality Index

Reproductive health

Indices of empowerment

Labor-market participation

Human Development Index

Gender parity

Workforce

Microloan

Standard of living

Theories of development

Rostow’s Stages of Economic Growth

Wallerstein’s World System Theory

Dependency theory

Commodity dependence

Deindustrialization

Complementary advantage

Comparative advantage

Neoliberal policies: 

Free trade agreements

European Union

World Trade Organization

Mercosur

OPEC

Globalization

Tariffs

Global financial crises

Debt crisis

International lending agencies

International Monetary Fund

Outsourcing

Economic restructuring

Special economic zones

Export-processing zones

International division of labor

Developing countries

post-Fordist methods

Multiplier effect: 

Economies of scale

Agglomeration

Just-in-time delivery

Service sector

High technology industry

Growth poles

sustainable development

Natural resource depletion

Mass consumption

Pollution

climate change

Ecotourism

UN’s Sustainable Development Goals

Public transportation

Sun Belt

Less developed countries

More developed countries

Resource Extraction

Postindustrial economy

Economic bloc: group of countries who agree to a common set of trade rules

Vertical integration:

Socioeconomic structure

Ethanol:

Informal sector/economy

Formal sector/economy

Maquiladora: manufacturing zone in Mexico (SEZ)