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ap hug unit 7

QuestionAnswer
GDP- Gross domestic product total value of goods/ services produced in a country
GNI- Gross national income GDP+income from abroad
GDP per capita GDP + population
HDI0 human development index combines life expectancy education income
types of economic activities primary secondary teritiary quaternary quinary
primary and secondary -extract raw materials (farming, mining) -manufacturing (factories)
teritiary quaternary -services (teachers, doctors) -knowledge-based
quinary high-level decision-making (CEOs government)
Rostows Stages of economic growth - traditional society -preconditions for takeoff -takeoff -drive to maturity -age of mass consumption
criticism assumes all countries follow the same path
waller steins world systems theory divides the world into core periphery semi periphery
webers least cost theory Factories locate where costs are lowest -transportation -labor -agglomeration (grouping together)
agglomeration businesses cluster to -share services -reduce costs -attract workers
Globalization increased global connections
outsourcing moving jobs abroad
offshoring relocating production
trade organizations WTO (world trade organization NAFTA/USMCA Eu
Special economic zones areas with low taxes and few regulations to attract businesses
economic sectors and labor developed countries- more services jobs developing coutnries- more agriculture- manufacturing
formal vs informal economy formal- taxed, regulated informal- unregulated (street vendors)
GII Gender inequality index Women often have -lower pay less access to education Gender equality improves economic growth
sustainable development development that meets needs without harming future generations
problems and solutions -resource depletion -pollution -climate change solutions -renewable energy -sustainable agriculture
conseuqees of industrialization positive economic growth, more jobs, better infrastructure negative pollution, income inequality, urban crowding
Created by: user-1840221
 

 



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