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K Industrializatio a
Industrialization and Economic Inpact
| Question | Answer |
|---|---|
| Agglomeration | This phenomenon occurs when multiple types of companies within an industry locate near one another in order to benefit from one another’s products, services, and customers. For example, an auto parts maker might locate near an automobile manufacturer. |
| Asian Tigers/Dragons | This designation refers to four countries in East Asia—Hong Kong, Singapore, South Korea, and Taiwan—that have been developing rapidly because of industrialization, skilled labor forces, and increasing exports to Europe and the United States. |
| Basic Industries | These industries provide the economic base for cities and urban areas. Generally, the industry moves to the area first and the city grows around the industry. For example, the automobile industry is a basic industry in Detroit. |
| Brain Drain | This phenomenon occurs when many educated and professional persons leave their homes to pursue opportunities in other countries, rather than stay and encourage development in their country of origin. |
| Break-of-bulk Points | These places serve as transition points where raw materials and goods are moved from ships or trains to trucks to complete the rest of the journey to production and distribution areas. |
| Commodity Chain | This refers to the process businesses use to develop and sell goods including the gathering of resources, the production of the goods, and the final distribution of the goods to consumers. |
| Contagion Stage | This second stage of Nolan’s stages of growth occurs when the new technology spreads throughout the company and workers find new uses for it. |
| Control Stage | This third stage of Nolan’s stages of growth occurs as workers struggle to learn a new technology and use it productively. often results in inefficiency and frustration, it also can increase employees’ understanding of the possible uses of technology. |
| Core Areas | These areas comprise developed countries that collect and use the resources of less developed countries to fuel their economic growth. |
| Core Periphery Model | divides the world in core areas of developed countries and periphery areas of less developed countries. Countries are designated core or periphery depending on four factors: industrial core, upward transition, downward transition, and resource frontier. |
| Cumulative Causation | when the benefits of economic growth encourage further growth, causing an area to continue growing economically. For example, the success of existing companies encourages other companies to develop or expand, which do the same, and so on. |
| Data Administration Stage | This fifth stage of Nolan’s stages of growth occurs when a company begins to use the technology primarily for gathering and storing data. The technology has become less innovative and more routine. |
| Deglomeration | This phenomenon occurs when too many companies in the same industry exist in an area. Competition among the companies forces some to close or to relocate. |
| Dependency Theory | less developed countries remain in an impoverished state because more developed countries exploit them or business leaders or government officials choose to promote the wealth of a select group by using power to hoard and restrict access to resources. |
| Development | This term refers to the economic, social, and demographic growth within a country that results from the spread of information and technology. |
| Economic Data Indicators | These statistical measures give insight into the economic growth of a country. Examples of these indicators include gross domestic product, gross national product, expendable income, and availability of resources. |
| Economic Sectors | These classifications organize economies according to where the majority of people work. The three economic sectors are primary, secondary, and tertiary. For example, an economy based mostly on agricultural activities is a primary economy sector. |
| Economic Support Base | This term refers to the training and experience of a company’s workers as well as to financial investment in the company. These key factors help guarantee a company’s success. |
| Expendable Income | This income refers to the money that a person has left after paying bills and meeting other financial obligations. |
| Export Processing Zones | These ports are areas designated to process goods within a country for export to other countries. |
| Fixed Costs | These production costs remain the same regardless of the quantity of goods being produced. |
| Footloose Industry | This type of industry has no official ties or loyalty to a particular place, enabling it to relocate at will—even to another country—according to its own best interest. |
| Fordism | This phenomenon refers to the specialization and division of labor that became a hallmark of the assembly lines in Ford’s automobile manufacturing plants. This process entails workers specializing in specific tasks |
| Foreign Direct Investment | This type of investment occurs when a company in one country invests money or resources in another country. The company may invest money in an existing company in the other country, or it may open its own offices or plants there. |
| Gender Balance | This standard measures the economic and social opportunities available to men and women in a country. Balance-when both sexes have the same opportunities to education, jobs, public spaces, wealth, political participation, health care, and recognition. |
| Gender Empowerment Measure | Used by the UN to measure inequalities between the sexes in economic and political opportunities. The measured for each country by three factors: political participation, economic participation, and access to or management of economic resources. |
| Gender Related Development Index (Gdi) | This standard contributes to the United Nations’ Human Development Report by measuring the education, life expectancy, and estimated earned income for men and women in a country. |
| Gross Domestic Product | This economic indicator measures the market price, or value, of all the goods and services produced within a country in a given year. The goods and services come from resources found within the country. |
| Gross Domestic Product Per Capita | This economic indicator divides the total quantity of goods and services produced within a country in a given year by the total population of that country. The quotient, or resulting figure, is an average of each person’s production. |
| Gross National Product | Economic indicator measures the market price, or value,of allgoods and services produced in a country in a given year. This includes goods and services produced from resources that residents of the country own,regardless of the origins of theresources. |
| Human Capital | This term refers to the value of the knowledge, skills, experience, and other attributes that a person possesses and can contribute to his or her work. |
| Human Development Index (Hdi) | Measures a country’s overall development from four human characteristics: education, life expectancy, literacy, and standard of living. Contributes to the United Nations’ Human Development Report-ranked as developed, developing, and underdeveloped. |
| Industrial Cost | This term refers to a company’s cost for producing a certain amount of product. Industrial cost can be fixed or variable. |
| Initiation Stage | This first stage of Nolan’s stages of growth involves the introduction of a new technology to a company. The technology has limited uses. |
| Integration Stage | This fourth stage of Nolan’s stages of growth occurs when most workers have adapted to a new technology and integrated its use into their normal work processes. |
| International Division Of Labor | This term refers to specialization in the production process. This specialization results in increased efficiency, speed, and quality within the process. |
| Labor Intensive | This term describes a job or an activity that requires a great deal of human effort or labor. |
| Less Developed Country (Ldc ) | Describes countries that show a lack of economic development,reflected by the poverty in which most of their people live.these countries make up periphery areas that are often exploited by core areas for their resources and workers. |
| Life Expectancy | This standard measures the average lifetime, or number of years that a person can expect to live, of the men and women in a country. |
| Manufacturing Exports | These exports are manufactured goods produced to distribute and sell overseas, in foreign markets. |
| Maquiladoras | This term refers to factories built by U.S. companies in Mexico that manufacture goods at a lower cost than they could be produced in the United States. |
| Maturity Stage | sixth(final)stage of Nolan’s stages of growth occurs when workers begin to look for new and innovative ways to use a technology that has been fully integrated into their workplace. companies- try remain competitive by upgrading to another new technology. |
| More Developed Countries (Mdcs) | describes countries that show ongoing economic progress and development, marked by higher levels of wealth across larger sectors of their population. These countries make up core areas that may rely on less developed countries for resources and workers. |
| Multiplier Effect | This term refers to the economic growth that occurs in a city or urban area because of the presence of basic and nonbasic industries. Increased demand in one industry attracts or expands other businesses in the city. |
| Neocolonialism | This modern phenomenon exists in less developed countries that still depend on more developed countries for economic, military, or political support. |
| New International Division Of Labor | This modern phenomenon refers to the flow of jobs from developed to developing countries. Increasingly, companies in developed countries export jobs in manufacturing and other industries to workers in less developed countries to save labor costs. |
| Nolan’s Stages Of Growth Model | Proposed by Richard Nolan, this economic model describes the pattern by which most companies incorporate and adapt to new technologies. It comprises six stages: initiation, contagion, control, integration, data administration, and maturity. |
| Nonbasic Industries | These industries relocate to a city or urban area after a basic industry has already been established. Generally, they provide goods and services to the basic industry or to the people who work there. |
| North American Free Trade Agreement (NAFTA) | This international treaty, signed by Canada, Mexico, and the United States, lessened restrictions on trade between the three countries. Under the agreement, companies could more easily import and export goods and labor across borders. |
| Optimistic Viewpoint Of Economic Development | |
| Outsourcing | refers to the exporting of jobs, specifically from more developed to less developed countries. Involves companies based in one country hiring workers in another country to provide labor at a lower cost than the cost of workers in their home country. |
| Periphery Areas | These areas comprise less developed countries that supply the resources to fuel growth in more developed countries while staying in poverty. |
| Pessimistic Viewpoint Of Economic Development | |
| Physical Quality Of Life Index (Pqli) | calculates the literacy rate, the indexed infant mortality rate, and the indexed life expectancy.Sums divided by 3 to obtain a quality of life rating between 0 and 100. By David Morris,standard re-evaluates data collected by the Human Development Index. |
| Primary Economic Sectors | These industries harvest and extract resources from the earth. Farming, mining, forestry, fishing, oil drilling, and natural gas extraction are examples of these types of activities. |
| Rostow’s Take-off Model | Walt Whitman Rostow,explains the development stages through which a country progresses.5 stages-traditional society, transitional phase (or preconditions for take-off), take-off stage, drive to maturity, and age of mass consumption. |
| Rust Belt | economic region,extends from the Mid-Atlantic states to the Great Lakes states, used to make up the industrial heartland of the United States. As industry in this region has declined,factories have shut down, leading to economic decline in these cities. |
| Secondary Economic Sectors | |
| Semi-periphery Areas | These areas comprise developing countries that show increasing signs of economic growth while lacking the political and economic power that marks more developed countries. The Asian Tigers, or Dragons, are examples of this type of area. |
| Special Economic Zones (Sezs) | This designation refers to special areas within a country in which the country’s normal economic laws do not apply. Such zones have their own sets of governing laws designed to encourage foreign companies to relocate and invest in the area. |
| Standard Of Living | measures the quality of life experienced by people relative to their own cultural expectations. May be measured by a variety of economic and social factors, including monetary wealth, land and other property, social opportunities, and political freedoms. |
| Technology Gap | This term refers to the disparity in access to and knowledge of technology. Some people have access to more types of technology, and some people know how to use certain types of technology better than others. For example- Core=PC, Periefery= Not many PC |
| Technology Transfer Process | refers to the process and time that it takes for a new technology to go from the research and design phase to the production phrase to the distribution phase. Some technologies move rapidly from development to consumer sales; others take more time. |
| Tertiary Economic Sectors | |
| Time-space Compression | occurs when business and industry try to increase efficiency by reducing time and distance barriers. For example, the use of fax machines and e-mail reduces the time it takes to communicate information by removing the distance barrier. |
| Transnational Corporation | This type of corporation conducts its business in many different countries. Research and development, factory operations, and sales occur in locations other than the corporation’s headquarters. |
| Treaty Ports | These ports must remain open to international trade because of treaties signed by participating countries. |
| Variable Costs | These production costs depend on the quantity of goods being produced. The more produced, the higher the cost. |
| Weber’s Least Cost Theory | |
| Weight-gaining Industry | type of industry produces goods that weigh more than the raw materials that went into making them. encourages the industry to locate closer to its markets than to its source of raw materials to reduce transport costs. |
| Weight-reducing Industry | produces goods that weigh less than the raw materials that went into making them. The higher weight of the raw materials encourages the industry to locate closer to its source of raw materials than to its markets to reduce transport costs. |
| World Systems Analysis | by Immanuel Wallerstein, this theory relates economic development to geographic location. Under this theory, core areas made up of developed countries depend on periphery areas made up of developing countries for the resources to fuel their growth. |
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kpendev6319