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Ind/Econ Dev Concept
APHG Unit 7 Vocabulary and Concepts
| Question | Answer |
|---|---|
| agglomeration effects | The cost advantages (external economies) for an individual company gained by locating near similar functional industries or companies. |
| backwash effect | The negative impact to the peripheral region sometimes caused by increased flows of labor and capital into a nearby high-growth region. |
| commodity chain | A chain of activities from the manufacturing to the distribution of a product. |
| creative destruction | The reinvestment of funds in new, profitable ventures and regions that were once used to fund ventures and regions that are now not as profitable. |
| deindustrialization | The reduction in industrial activity that occurs when decreased profits and declining business cause a reduction in industrial employment. |
| dependency theory | A theory of economic development proposed by Andre Gunder Frank based on the periphery's dependence on the core. |
| developmentalism | The idea that every country and region will eventually make economic progress toward a high level of mass consumption if they only compete to the best of their ability within the world economy. |
| exclusive economic zone (EEZ) | An expanse of water up to 200 nautical miles off a country's coast that is designated for that country's natural resource exploration and exploitation. |
| export-processing zones (EPZs) | Smalls areas of a country with exceptional investment and trading conditions that are created by its government to stimulate and attract foreign investors and business. |
| fixed cost | The cost of land, plant, and machinery that is not variable. |
| footloose firms | Firms that produce something that requires minimal transport costs. |
| Fordism | The process (named after Henry Ford) of using assembly-line techniques and scientific management in manufacturing. |
| gross domestic product (GDP) | The approximate value of all final goods and services produced in a country per year |
| gross national product (GNP) | The gross domestic product (GDP) plus the value of income from abroad such as earnings from a U.S. company based abroad. |
| import substitution | The production of goods and services internally by the periphery country that were once supplied by the core. |
| least-cost theory | A theory, developed by Alfred Weber, that states that three main expenses - labor, transportation, and agglomeration - must be minimized when locating an industry |
| localization economies | The cost savings for individual industries as a result of grouping together in a certain location. |
| locational interdependence theory | A theory developed by Harold Hotelling that suggest that competitors |
| maquiladora | A foreign-owned assembly company located in the United States-Mexico border region in order to take advantage of cheaper labor |
| Millennium Development Goals | The United Nations mandate of eight development goals designed to eliminate poverty by the year 2015. |
| neo-Fordism | The evolution of mass production into a more responsive system geared to the nuances of mass consumption by using flexible production systems that allow production processes to shift quickly between various products. |
| offshoring | The practice of contracting with a third-party service provider in another country to take over or supervise part of the business operations. |
| outsourcing | The production of goods and parts abroad for sale in one's own country. |
| quaternary economic activities | Economic activities that deal with information and knowledge processing. |
| quinary economic activities | The economic activities that deal with the highest level of decision-making in both the government and private sectors of the economy. |
| Rostow's model of economic development | A model of development for countries based on stages of economic growth and modernization. Also called modernization theory. |
| secondary economic activities | Economic activities that involve the processing of raw materials into finished goods by manufacturing. |
| spread effects | Benefits to the peripheral region that accrue because of economic development in the nearby core region. |
| sustainable development | The concept that is possible to balance economic growth without jeopardizing the environment and equitable human access. |
| tertiary economic activities | Economic activities that provide services |
| world-systems theory | The theory, developed by Immanuel Wallerstein, that there is only one world system in which all nation-states historically compete for capital and labor. |
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rkrauseemhs
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