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AP HUG U7
AP HUG U6
| Question | Answer |
|---|---|
| development | process of improving people's conditions |
| developing country | country with lower industrialization and HDI |
| BRICS | brazil, russia, india, china, south africa - major emerging economies |
| NICS | newly industrialized countries - engaging in export orient -manufacturing |
| HDI | human development index - measure a country's development level |
| GDP | value of a the goods and services in a country |
| GNI | total income earned by the country's residents |
| PPP | purchasing power parity - determining value of a currencies based on prices of goods in a country |
| Brandt line | a line separating the world into the rich and poor region |
| formal economy | regulated economic activity |
| informal economy | unregulated/undocumented activity by the government |
| international division of labor | manufacturing shifting from core to periphery countries |
| productivity | labor needed to make a product or service |
| Gender related dv index | disparity in HDI b/w men and woman |
| GII | gender inequality index- loss of potential due to gender inequality in a country |
| Rostow dv model | traditional society, preconditions for takeoff (simple infrastructure), takeoff (build services), drive to maturity(trading), age of mass consumption |
| wallerstein world stystem's theory | core, semi-periphery, periphery |
| core-periphery model | how economic power is organized and how they depend on one another |
| dependency theory | poorer countries are poor b/c of MDC exploiting them. MDC want their cheap labor so they need to be poor to keep their low prices |
| SEZ | special economic zone - area where there are different economic rules to attract business |
| WTO | world trade organization - regulates trade b/w countries |
| FDI | foreign direct investment - company investing into a business in another country |
| transnational corporation | company operating in multiple economies |
| world bank | financial institution that provides loans |
| OPEC | control petroleum and oil prices - keeps them stable |
| mercosur | trade bloc aiming for free trade everywhere |
| EU | european union - promote financial stability and unity in europe |
| IMF | international monetary fund - wants to get financial stable for its members |
| structural adjustment program | reforms (things that must change in a country) on dlv countries in exchange for loans - IMF and World bank gives reforms |
| microfinance | small loans to pplp who dont have access to traditional banking - help them start business |
| fair trade | more percentage of the product goes to producers |
| cooperative store | emmber-owned and managed business aimed at benefiting them |
| UN SDGs | development goals for countries to achieve |
| maquiladora | factories and manufactures in Mexico |
| cottage industry | manufacturing done by hand |
| situation factors | costs related to transporting materials to and from a factory |
| assembly line | production method where workers repeated tasks |
| site factors | cost of factors inside factory (land, labor, capital) |
| break of bulk point | area where goods change mode of transportation |
| labor intensive industry | labor cost is a low percentage of expenses |
| bulk gaining industry | products weigh more than its inputs |
| bulk reducing industry | inputs weigh more than final point |
| footloose industry | industry that can be located anywhere because of low transportation cost |
| capital | money used to start of expand a business |
| right to work laws | workers choose to join union or not (dont have to pay membership but also can't negotiate wages) |
| comparative advantage | when a country can produce smth more efficiently than others |
| outsourcing | hiring another company or country to do tasks |
| Fordist production | mass production of standardized goods |
| Post-Fordist production | flexible system of production with smaller batches and customized production |
| NAFTA | North American Free Trade Agreement, reduced tariffs and encourage trade |
| Just in Time Delivery | production strategy where materials arrive jut when they are used - reduce inventory and storage cost |
| vertical integration | when a company controls multiple stages of production |
| eco-tourism | tourism focused on environment while promoting conservation |
| agglomeration economies | benefits companies gain by being near each other |
| brown field | abandoned industrial sites available for redevelopment |
| rust belt | NE and Mid West US that experience industrial decline |
| growth pole | economic center with businesses and industries cluster and stimulate development |
| infrastructure | basic systems needed for economic growth (transportation, energy) |
| weber's least cost theory | industries locate where transportation and labor are minimized |
| back offices/offshoring/outsourcing | moving businesses support tasks to other location to reduce cost |
| call center | office where people handle customer services or tech calls |
| threshold | minimum number of people needed to run a business |
| range | maximum distance people are willing to travel to obtain a good |
Created by:
anxinangela