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PHHS - APHUG: Important vocab for Unit 6 - Industrialization and Economic Devel.

resources that are finite in amount; once they are used up they are gone non-renewable resources
resources that are infinite in amount and can be used over and over again renewable resources
concept that the value of a manufactured product is greater than the sum of its raw materials value-added processing
product that is expected to last/be used for more than one year durable good
product that is expected to last/be used for less than one year non-durable good
the process that a good takes, starting off as raw materials, being refined/processed/manufactured/assembled, and ending with the good reaching consumers commodity chain or supply chain
service jobs that are usually low pay, little/no benefits offered low-benefit services
service jobs that are higher (usually salaried) pay, benefits offered high-benefit services
one of the five required inputs for manufacturing; physical things that are changed somehow to produce a good raw materials
one of the five required inputs for manufacturing; people are needed to perform work labor
one of the five required inputs for manufacturing; raw materials need to get to factories, and finished products need to get to consumers transportation
one of the five required inputs for manufacturing; facilities and services are needed for the factory to operate/be efficient infrastructure
one of the five required inputs for manufacturing; a "power source" is needed to do the work energy
industries where the raw materials and manufacturing are located in the same place primary industries
industries where the raw materials and manufacturing are located in different places with some amount distance in between secondary industries
states that three factors are considered in the decision of where to locate secondary industries: variable costs, friction of distance, and distance decay location theory
states that three costs will attempt to be minimized when considering where to locate secondary industries: transportation, labor, and agglomerations least cost theory
principle that industries can absorb the one cost increase as long as another input descreases in cost substitution principle
occurs when agglomerations become over-developed and lead to increasing costs of land, labor, and transportation deglomeration
industries that use large, bulky raw materials to create smaller, lighter finished products weight losing industries
industries that assemble many small, light parts into a large, bulky finished product weight gaining industries
process where one company oversees all steps in a commodity chain Fordism
movement that introduced mechanization in the secondary sector Industrial Revolution
one of the primary industrial regions; includes England, France, Germany, and northern Italy Central and Western Europe
one of the primary industrial regions; includes northeastern United States and southeastern Canada Eastern North America
one of the primary industrial regions; includes central Asia Russia and Ukraine
one of the primary industrial regions; includes China and Japan East Asia
ability to produce a good or service at a lower opportunity cost comparitive advantage
place where transported cargo is transferred to another type of carrier break-of-bulk point
Chinese cities not subject to normal communist economic laws Special Economic Zones (SEZs)
exports zones in northern Mexico that primarily manufacture goods for export to the United States maquiladoras
divides the world into categories: 1st world/2nd world/3rd world Cold War model
3rd world states that do not have a functioning economy 4th world states
3rd world states that do not have a functioning economy, nor a functioning government 5th world states
theory that divides the world economically into cores, peripheries, and semi-peripheries World Systems Theory
South Korea, Taiwan, Hong Kong, Singapore; industrialized in the 1950s-1970s through U.S. foreign aid Old Asian Tigers
China, India, Vietnam, Thailand, Malaysia, Indonesia, the Philippines; industrialized in the 1980s-1990s through foreign direct investment New Asian Tigers
total value of goods and services produced by one country's citizens in one year Gross National Product (GNP)
total value of goods and services produced in one country in one year Gross Domestic Product (GDP)
total value of goods and services produced in one country in one year, plus the difference in value of a country's imports and exports Gross National Income (GNI)
when the value of a country's exports is higher than its imports trade surplus
when the value of a country's imports is higher than its exports trade deficit
a calculation made on a "per person" basis per capita
measures the development of a country on a scale of 0 to 1 by analyzing the country's GDP per capita, literacy rate, average education level, and total life expectancy Human Development Index (HDI)
measures income disparity of a country's citizens on a scale of 0-1 or 0-100 Gini Coefficient
measures the inequalities between men and women in a country Gender-Related Development Index (GDI)
theory that all countries will go through 5 similar stages as they industrialize; created by Walt Rostow Modernization Model
three main criticisms of the modernization model: colonial legacies, government corruption, capital flight
theory that countries will get stuck in cycles of debt and repayment as they attempt to industrialize; created by Raul Prebisch Dependency Theory
Possible ways to end the cycle of dependency: prevent capital flight, create import substitution, nationalize industries, use profit-sharing agreements, develop high technology
money given from 1st world to 3rd world countries foreign aid
money loaned from organizations like the World Bank and IMF to developing countries to assist in industrialization and construction of infrastructure development loans
money invested by individuals or corporations in emerging economies with the hopes of making large profits foreign direct investment
the process by which a country shifts from manufacturing to services as the dominant economic sector deindustrialization
reason why America deindustrialized foreign competition in manufacturing
states that retail locations should be placed in areas that meets the threshold number and minimizes the range of consumer travel retail location theory
theory that analyzes desireable traits in areas to attract protential employees service location theory
cities that drive the global economy due to contentrations of money and power world cities
carbon emmissions contribute to the greenhouse effect, a condition known as global warming
Created by: pdeanna
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