Economic Geography
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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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| ancillary activities | economic activities that surrounded and support large-scale industries such as shipping and food service
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| anthropocentric | human-centered; in sustainable development, anthropocentric refers to ideas that focus solely on the needs of people without considering the creatures with whom we share the planet or the ecosystems upon which we depend
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| backwash effect | the negative effects on one region that results from economic growth within another region
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| brick-and-mortar business | traditional businesses with actual stores in which trade or retail occurs; it does not exist solely on the Internet
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| conglomerate corporation | a firm that comprised of many smaller firms that serve several different functions
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| core | national or global regions where economic power, in terms of wealth, innovation, and advanced technology, is concentrated
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| core-periphery model | a model of the spatial structure of development in which underdeveloped countries are defined by their dependence on a developed core region
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| Deglomeration | the dispersal of an industry that formerly existed in and established agglomeration
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| deindustrialization | loss of industrial activity in a region
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| development | the process of economic growth, expansion, or realization of regional resource potential
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| E-commerce | web-based economic activities
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| economic backwaters | regions that fail to gain from national economic development
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| export -processing zone | areas where governments and trading conditions to attract export-oriented industries
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| fast world | areas of the wold, usually economic core, that experience greater levels of connection due to high-speed telecommunications and transportation of the firm
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| fordism | system of standardized mass production attributed to Henry Ford
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| foreign investment | overseas business investments made by private companies
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| gender equity | a measure of the opportunities given to a woman compared to men within a given country
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| globalization | the idea the world is becoming increasingly interconnected on a global scale such that is smaller scales of political and economic life are becoming obsolete
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| Gross Domestic Product (GDP) | the total value of good and services produced within the borders of a country during a specific time period, usually one year
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| Gross National Product (GNP) | the total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year
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| Human Development Index (HDI) | measure used by the UN that calculates development not in terms of money of productivity but in terms of human welfare. The HDI evaluates human welfare based on three parameters: life expectancy, education, and income
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| industrial revolution | the rapid economic and social changes in manufacturing that resulted after the introduction of the factory system to the textile industry in England at the end of the 18th century
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| industrialization | process of industrial development in which countries evolve economically, from producing basic, primary goods to using modern factories for mass-producing goods. At the highest levels of development, nationa
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| Offshore financial center | areas that have been specially designed to promote business transaction, and thus have become centers for banking and finance
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| periphery | countries that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living. The world economic periphery includes Africa (except for South American), parts of South America, and Asia
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| primary economic activities | economic activities in which natural resources are made available for use or further processing, including mining, agriculture, forestry, and fishing
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| productivity | a measure of the goods and services produced within a particular country
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| Purchasing Power Parity | a monetary measurement of development that takes into account what money buys in different countries
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| quaternary economic activities | the most advanced form of quaternary activities consisting of high-level scientific research
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| regionalization | the process by which specific regions acquire characteristics that differentiate them from others within the same country. in economic geography, regionalization involves the development of dominant economic activities in particular regionS
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| Rostow's stages of development | a model of economic development that describes a country's progression which occurs in five stages transforming them from least-developed to most-developed countries
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| rust belt | the manufacturing region in the US that is currently debilitated because many manufacturing firms have relocated to countries offering cheap labor and relaxed environmental regulations
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| secondary economic activity | economic activities concerned with the processing of raw materials such as manufacturing, construction, and power generation
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| semi-periphery | those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China, and Indonesia. S-P Countries offer their citizens relatively diverse economic opportunities but also have extreme gaps between rich and poor
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| service-based economies | highly developed economies that focus on research and development, marketing, tourism, sales, and telecommunications
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| slow world | the developing world that does not experience the benefits of high-speed technology
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| spatially fixed costs | an input cost in manufacturing that remains constant wherever production is located
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| spatially variable costs | an input cost in manufacturing that changes significantly from place to place in its total amount and in its relative share of total costs
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| specialty goods | goods that are no mass-produced but rather assembled individually orin small quantities
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| tertiary economic activities | activities that provide the market exchange of goods and that bring together consumers and providers of services such as retail, transportation, government, person, and professional services
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| transnational corporation | a firm that conducts business in at leas two separate countries; also known as multinational corporations
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| world cities | a group of cities that form an interconnected, internationally dominant system of global control of finance and commerce
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| world-systems theory | theory explains the emergence of a core, periphery, and semi-periphery in terms of economic and political connections 1st established at the beginning of exploration in the late 15th century and maintained through increased economic access up until today
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