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Unit 5: Economics

Ch.6 Barron's / Ch.9 Rubenstein

QuestionAnswer
compares the ability of women and men to participate in economic and political decision making. gender empowerment measure (GEM)
compares the level of development of women with that of both sexes. gender-related development index (GDI)
Also known as a relatively developed country; a country that has progressed relatively for along a continuum of development. More developed country (MDC)
Economic policies imposed on LDCs by international agencies to create conditions encouraging international trade, such as raising taxes, reducing government spending, controlling inflation, and selling publicly owned utilities to private corporations structural adjustment program
The gross value of the product minus the costs of raw material and energy. Value added
National or global regions where economic power, in terms of wealth innovation, and advanced technology is concentrated. Core
A model of the spacial structure of development in which underdeveloped countries are defined by their dependence on a developed region. Core-periphery model
The dispersal of an industry that formerly existed in an established agglomeration. Deglomeration
Loss of industrial activity in a region. Deindustrialization
The process of economic growth expansion, or realization of regional resource potential. Development
Web-based economic activities E-Commerce
Regions that fail to gain from national economic development. Economic Backwaters
Areas where government create favorable investment and trading conditions to attract export-oriented industries. Export-processing Zone
Areas of the world,usually the economic core, that experience greater levels of connection due to high speed telecommunications and transportation technologies. Fast world
Manufacturing activities in which cost of tranporting both raw materials and finished product is not important for determining the location of the form. Footloose Firms
System of standardized mass production attribution to Henry Ford. Fordism
Overseas business investments made by private companies. Foreign Investment
A measure of the opportunities given to a woman compared to men within a given country. Gender Equity
The idea that the world is becoming increasingly interconnected on a global scale such that the smaller political and economic life scales are becoming obsolete. Globalization
The total value of goods and services produced within the borders of a country during a specific time period, usually one year. Gross Domestic Product
The total value of goods and services, including income received from abroad, produced by the residents of a country within a specifc time period, usually one year. Gross National Product
Measure used by the united nations that calculates development not in terms of money or productivity but in terms of human welfare. It evaluates human welfare based on 3 parameters:life expectancy, education, and income. Human Development Index (HDI)
The rapid economic and social changes in manufacturing that resulted after introduction of the factory system to the textile industry in England at the end of the 18th century. Industrial Revolution
Process of industrial development in which countries evolve economically, from producing basic, primary goods to using modern factories for mass-producing goods. Industrialization
Those countries including Britain, France, the United States, Russia, Germany and Japan, that were all at the forefront of industrial production and innovation through the middle of the 20th century. Industrialized Countries
A concept developed by Alfred Weber to describe the optimal location of a manufacturing establishment in relation to the costs of transport and labor, and the relative advantages of agglomeration or deglomeration. Least-Cost Theory
Those countries including contries in Africa, except for South Africa, and parts of South America and Asia, that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living. Least Developed Countries (LDC)
A region in which manufacturing activities have clustered together. The major US industrial region has historically been in the Great Lakes, which includes the states of Michigan, IL, IN, OH, NY and PA. Industrial regions also existin Southeastern Brazil, Manufacturing region
Those US firms that have factories just outside the United States/ Mexican border in areas that have been specially designated by the Mexican Government. In such areas, factories cheaply assemble goods for export back into the United States. Maquiladoras
A measure of all goods and services produced by country in a year, including production from it's investments abroad, minus the loss or degradation of natural resource capital as a result of productivity. Net National Product
Areas that have been specially designed to promote business transactions, and thus have become centers for banking and finance. Offshore Financial Center
Countries that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living. They include Africa (except for South Africa), parts of South America and Asia. Periphery
Economic activities in which natural resources are made available for use or further processing, including mining, agriculture, forestry and fishing. Primary Economic Activities
A measure of the goods and services produced within a particular country. Productivity
A monetary measurement of development that takes into account what money buys in different countries. Purchasing Power Parity
Economic activities concerned with research, information gathering, and administration. Quaternary Economic activities
The most advanced form of quaternary activities consisting of high-level decision making for large corporations or high-level scientific research. Quinary Economic Activities
The process by which specific regions acquire characteristics that differentiate them from others within the same country. It involves the development of dominant economic activities in particular regions. Regionalization
A model of economic development that describes a country's progression which occurs in 5 stages transforming them from least developed to most developed countries. Rostow's Stages of Development
The manufacturing region in the US that is currently debilitated because of many manufacturing firms that have relocated to countries offfering cheaper labor and relaxed environmental regulations. Rust Belt
Economic activities concerned with the processing of a raw materials such as manufacturing, construction, and power generation. Secondary Economic Activities
Those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China and Indonesia. These countries offer their citizens relatively diverse economic opportunities but also have extreme gaps between rich and poor. Semi-Periphery
The developing world that does not experience the benefits of high-speed tele communications and transportation technology. Slow World
A firm that is comprised of many smaller firms that serve several different functions. Service-Based Economics
The developing world that does not experience the benefits of high-speed tele communications and transportation technology. Bulk Reducing Industries
Industries whose final products weigh more after assembly than they did previously in their constituent parts, Such industries tend to have production facilities close to their markets. Bulk Gaining Industries
An input cost in manufacturing that changes significantly from place to place in its total amount and in its relative share of total costs. Spatially Variable Costs
Goods that are not mass produced but rather assembled individually or in small quantities. Specialty Goods
The idea that people living today should be able to meet their needs without prohibiting the abilit of future generations to do the same. Sustainable Development
Activities that provide the market exchange of goods and that bring together consumers and providers of services such as retail, transportation, government, personal, and professional services. Tertiary Economic Activities
A firm the conducts business in at least 2 seperate countries; also known as multinational corporations. Transnational Corporation
A group of cities that form an interconnected, internationally dominant system of global control of finance and commerce. World Cities
Theory developed by Immanuel Wallerstan that explains the emergence of a core, periphery, and semi-periphery in terms of economic and political connections first established at the beginning of explanation in the late 15th century and maintained through i World-Systems Theory
Traditional businesses with actual stores in which trade or retail occurs; it does not exist solely on the internet. Brick-and- Mortar Business
A location where large shipments of goods are broken up into smaller containers for delivery to local markets. Break-bulk-point
The negative effects on one region that result from economic growth within another region. Backwash effect
Economic activities that surround and support large-scale industries such as shipping and food service. Ancillary Activities
Human-centered; in sustainable development, this 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. Anthropocentric
Grouping together of many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labour resources. Agglomeration
An industry in which the production of goods and services is based in homes, as opposed to factories. Cottage Industry
A form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way. Ecotourism
Sending industrial processes out for external production. The term increasingly applies not only to traditional functions, but also to the contracting of service industry functions to companies to overseas locations, where operating costs remain low. Outsourcing
Natural resources, such as fossil fuels that do not replenish themselves in a timeframe that is relevant for human consumption. Nonrenewable resources
An input cost in manufacturing that remains constant wherever production is located Spatially Fixed Costs
Natural resources that replenish quickly, usually in about the time of a human life. Renewable Resources
Created by: elefan12