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AP GEO Kaplan CH 8

Adams HCHS AP Human Geo. Kaplan Ch8 Industry/Econ develop.

QuestionAnswer
Agglomeration The centralization of parts of an industry for the mutual benefit of the industry as a whole.
Basic Industries The industries that are the focal point of the economy for a city.
Capitalism An economic system that lets the competitive market determine the price of goods in a society and in which people have the freedom to choose their outcomes based on their ability to pay for a product.
Communism An economic system in which the government has total control over the prices of goods in a society, ranging from the price of bread to utility prices.
Core-periphery Model Model suggesting the core areas are more developed while the periphery areas are less developed and often times the periphery is at the economic beckoning of the core through resources.
Cumulative Causation (Positive Feedback) Continued growth that feeds on itself.
Deglomeration Occurs when a market becomes saturated with a particular industry, creating too much competition and forcing some businesses to shut down.
Dependence Theory Suggests that more developed countries exploit less developed countries to remain at the top of international trade.
Development The continued progress of a society in all areas, including demographics, economics, and social factors.
Fixed Costs Costs that do not fluctuate depending on the quantity ordered.
Footloose Industry A company with no allegiance or ties to a country or a location that, therefore, can move its primary location.
Fordism Describes an assembly line on which each employee is doing a specific task to speed up the overall process of production.
Foreign Direct Investment The direct investment by a company in the economy of a foreign country characterized by a direct relationship between the investor and the product of the investment.
Four Asian Tigers (Asian Dragons) Includes South Korea, Hong Kong, Taiwan, and Singapore, each of which is currently experiencing rapid economic growth as a result of its industrial base and the exporting of items to areas like the United States and Europe.
Gross Domestic Product (GDP) Determined by summing the selling value or market price of all goods and services that are produced in a particular country in a given year.
Gross Domestic Product Per Capita Determined by dividing the total amount of goods and services produced in a country by the total population of the country.
Gross National Product (GNP) Determined by summing the value of the goods and services produced by a country’s factors of production within a given time period (usually one year).
Human Development Index Includes the characteristics such as life expectancy, literacy, education, and standard of living that affect all people’s lives regardless of culture.
Industrial Revolution Starting in the mid-1600s, the Industrial Revolution was an extension of the Enlightenment period in Europe. The opening of thought ultimately leading to major changes in the technology and transportation systems within industry.
International Division of Labor The specialization of labor so that production becomes industrialized, thereby increasing the speed, efficiency, and quality of the overall work process.
Labor-Intensive Industries Businesses that require relatively more human effort in the production process (Agriculture).
Multiplier Effect The expansion of the economic base of a city as a result of the increased demand sparking increased production, which in turn employs more people who then demand even more goods and services.
Neocolonialism A situation wherein the less developed countries of the world are still economically dependent upon the more developed countries.
New International Division of Labor The outsourcing of jobs from more developed countries to lesser developed countries to produce goods more cheaply.
Nonbasic Industries Industries that serve as secondary businesses, established after the city has already established its basic industry.
Site The internal characteristics of a place based on its physical features.
Situation The relationship that a particular location has with the locations around it.
Socialism An economic system in which the government controls the basic elements of an economy, such as food prices, transportation costs, and energy prices.
Time-Space Compression The increase in the efficiency in the delivery process by diminishing distance obstacles, perhaps via email, fax machines, etc.
Transnational Corperations Large companies with offices or divisions in countries around the world.
Treaty Ports Ports that must remain open for international trade because of the signing of various treaties.
Variable Costs Costs that fluctuate based upon the volume of the order.
Created by: flordaman