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Wahowski Cy Lakes

Development Process of improving the material conditions of people through diffusion of knowledge and technology
Gross Domestic Product Value of the total output of goods and ervices produced in a country during a year
Less Developed Country A country in early stages of development
Literacy Rate The percentages of a country's people who can read and write
More Developed Country A country that has progressed more along the development continuum
Primary Sector Type of service where people directly extract materials from Earth through agriculture and sometimes by mining, fishing and forestry.
Productivity The value of a particular product compared to the amount of labor needed to make it.
Secondary Sector Type of service where manufacturers process, transform, and assemble raw materials into useful products.
Structural Adjustment Program Economic policies that create conditions encouraging international trade such as raising taxes, reducing government spending, controlling inflation, selling publicly owned utilities to private corporations and charging citizens more for services.
Tertiary Sector Type of service that involves the provision of goods and services to the people in exchange for payment.
Value Added The gross value of the poroduct minus the costs of raw materials and energy.
Break of Bulk Point A location where transfer is possible from one mode of transportation to another
Bulk Gaining Industry An industry in which the final product weighs more or comprises a greater volume than the inputs
Bulk Reducing Industry An industry in which the final product weighs less or comprises a lower volume than the inputs
Cottage Industry Manufacturing based in homes rather than in a factory, commonly found before the Industrial Revolution
Fordist Form of mass production in which each worker is assigned one specific task to perform repeatedly
Industrial Revolution A series of improvements in industrial technology that transformed the process of manufacturing goods
Labor-Intensive Industry An industry for which labor costs comprise a high percentage of total expenses
Maquiladoras Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico
New International Division of Labor Process that keeps global inequalities in place
Post-Fordist Adoption by companies of flexible work rules such as the allocation of workers to teams theat perform a variety of tasks
Right-to-Work State A US state that ahs passed a law preventing a union and company from negotiating a contract that requires workers to join a union as a condition of employment
Site Factors Location factors related to the costs of factors of production inside the plant such as land, labor, and capital
Situation Factors Location factors related to the transportation of materials into and from a factory
Textile A fabric made by weaving used in making clothing
Trading Bloc A group of neighboring countries that promote trade with each other and erect barriers to limit trade with other blocs
Acid Rain Type of pollution that forms when sulfur dioxide and nitrogen oxides are released into the atmosphere by buring fossil fuels
Agglomeration When several industries cluster in one city they an provide support by sharing talents, services, and facilities
Capitalist World Economy Global economic system that is based in high-income nations that have market economies
Compressed Modernity Rapid economic and political change that transformed the coutnry into a stable nation with democratizing political institutions, a growing economy, and an expanding web of nongovernmental institutions
Deglomeration Exodus of businesses from a crowded area
Deindustralization When empoloyment in manufacturing as a share of total empolyment has fallen dramatically in the more developed countries
Dependency Theory Analysis that puts primary responsibility for global poverty on rich nations.
Distance Decay As distance increases, business activity decreases until it becomes impractical to do business
Economic Development The process of improving the material conditions of people through diffusion of knowledge and technology
Economic Geography Discipline that studies the impoact of economic activities on the landscape and investigates the reasons behind the location of economic activity.
Export Oriented Industralization Four Asian Tigers directly integrated their economies into the global economy by concentratiing on economic production that can find a place in international markets
Fossil Fuels Residues of plants and animals that were buried milliions of years ago, they are considered non renewable ressources.
Global Warming The increase in Earth's temperature caused primarily by the buring of fossil fuels
Friction of Distance When the the disticse is too great for practical transportation of goods and the cost is too high with increased distance
Greenhouse Effect An anticipated warming of Earth's surface that could melt the polar icecaps and raise the level of the oceans enough to destroy coastal cities
Infrastructure Support services for industiral development
Kanto Plain Japan's dominant region of industrialization which includes Japan and other cities nearby.
Location Theory Explains the locational pattern of economic activities by identifying factors that influence this pattern
Locational Interdependence The influence on a firm's locational decisions by locations chosen by its competitors.
Meiji Restoration Campaign for modernization and colonization
NAFTA North American Free Trade Agreement signed in 1995 by Mexico, US, and Canada that eliminated barriers to free trade among the three countries.
Newly Industrializing Country Countries especially in Latin America and Asia have experienced economic growth to where they appear to be in the between stages of MDCs and LDCs
Northeast District (China) The industrial heartland in Manchuria which has the region's coal and iron deposits
Oligarchs (Japan) Industrial and military laders that came to political power
Post-Industrial Societies Countries where most people are no longer employed in industry
Proven Reserves The energy depositis that have been discovered but not extracted
Potential Reserves Undiscovered energy deposits
Rostow's Stages Modernization Theory: Traditional Stage, Take-off Stage, Drive to technological maturity, High mass consumption.
Secondary Industrial Region Regions that have developed later and their industrial centers are not as large but their economies are growing
Single Market Manufacturers Single manufacturers that produce one type of good that are located closer to the market to keep costs down
Social Development Indicators of development like the literacy rate, formal education, and good health care
Space Time Compression The reduction in the time it takes to diffuse somethign to a distant place as a result of improved communications and transportation systems.
Special Economic Zones Government designated areas where foreign investment is allowed and capitalistic ventures are encouraged
Substitution Principle Where business owners can juggle expenses as long as labor, land rents, transportation, and other costs don't all go up at one time
Sustainable Development When people living today should not impair the ability of future generations to meet their needs.
Transnational Corporations Companies that operate factories in countries other than the ones in which they are headquatered
Variable Revenue Analysis The firm's ability to caputre a market that will earn it more customers and money than its competitors.
Created by: smw11209
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