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hgap unit 7

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Industry   show
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show The basic materials from which a product is made.  
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Market   show
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Cottage industry   show
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show A period of rapid industrial development characterized by the introduction of machinery and the mass production of goods.  
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show A region with a high concentration of industrial activity.  
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Deindustrialize   show
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show A region in the northeastern United States characterized by declining industry and urban decay.  
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Primary sector   show
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show The sector of the economy that processes raw materials into finished goods.  
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show The sector of the economy that provides services rather than producing goods.  
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show The sector of the economy that involves intellectual activities such as research and development.  
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show The sector of the economy that involves high-level decision making and management.  
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show The phenomenon whereby an initial change in spending leads to a chain reaction of further changes in spending.  
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show A theory that explains the location of industries based on minimizing transportation and production costs.  
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show The benefits that firms gain by locating near each other in clusters or agglomerations.  
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Locational triangle   show
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Bulk reducing industries   show
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Bulk gaining industries   show
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show Industries that rely heavily on labor rather than capital for production.  
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Break of bulk   show
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show The process of transporting goods in standardized containers.  
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Intermodal   show
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show Industries that are not tied to a specific location and can easily relocate.  
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show The parts of a business that interact directly with customers.  
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Back offices   show
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show The total value of goods and services produced by a country's residents, regardless of where they are located.  
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Gross national income   show
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show The total value of goods and services produced within a country's borders in a given period of time.  
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show Money sent by migrants to their home country.  
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show Per person.  
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Purchasing power parity   show
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Formal sector   show
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Informal sector   show
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Gini coefficient   show
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show The average number of years a person is expected to live.  
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Literacy rate   show
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show The difference in opportunities, status, and attitudes between men and women.  
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show A measure of gender disparities in a country's health, education, and income.  
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Human development index   show
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Nongovernmental organizations   show
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Microcredit   show
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Stages of Economic Growth model   show
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show A theory that divides the world into core, semi-peripheral, and peripheral regions, with the core benefiting from the exploitation of the periphery.  
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show A theory that suggests that underdeveloped countries are dependent on developed countries for economic growth and development, often due to historical colonial relationships.  
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Non-governmental organization (NGO)   show
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Commodities   show
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Commodity dependence   show
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show The exchange of goods and services between countries or regions.  
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show The exchange of goods or services for other goods or services without the use of money.  
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show The ability of a country or region to produce goods or services at a lower opportunity cost than other countries or regions.  
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Complementarity   show
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show The exchange of goods and services between countries without tariffs, quotas, or other restrictions.  
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show A political and economic ideology that advocates for free-market capitalism, deregulation, and reduced government intervention in the economy.  
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show Groups of countries that form agreements to promote trade and economic cooperation among themselves, often by reducing trade barriers within the bloc.  
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show The Southern Common Market, a trading bloc in South America that aims to promote economic integration among its member countries.  
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World Trade Organization (WTO)   show
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International Monetary Fund (IMF)   show
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Outsourcing   show
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show The relocation of business activities or services to a foreign country, typically to take advantage of lower labor costs.  
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show The reversal of offshoring, where businesses bring back previously outsourced activities or services to their home country.  
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New international division of labor   show
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Basic economic activity   show
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show Economic activities that produce goods or services primarily for export or outside the local economy.  
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Transnational corporations (TNCs)   show
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show Companies that operate in multiple countries but may not have the same level of integration across borders as TNCs.  
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Export processing zones (EPZs)   show
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Special economic zones (SEZs)   show
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show Manufacturing plants, typically located in Mexico, that operate under preferential tariff arrangements, often assembling goods for export to the United States.  
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show Areas within a country where goods can be imported, stored, and re-exported without being subject to customs duties.  
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show An economy characterized by a shift away from manufacturing and towards services, information technology, and knowledge-based industries.  
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show A production process where a product is assembled sequentially along a line of workers, each performing a specific task.  
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Fordism   show
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Substitution principle   show
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Post-Fordist   show
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show A production strategy where materials and components are delivered to the production line exactly when they are needed, minimizing inventory costs.  
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Locational interdependence   show
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show The benefits that firms gain from locating near each other in clusters or agglomerations.  
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show Centers of high-technology manufacturing and information-based industry.  
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show Regions or cities that serve as centers of economic growth and development, attracting investment and stimulating development in surrounding areas.  
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show Positive economic effects that result from the growth of an industry or activity, such as increased employment and investment in related sectors.  
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Backwash effects   show
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Brownfields   show
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Corporate parks (business parks)   show
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show Meeting the needs of the present without compromising the ability of future generations to meet their own needs.  
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Sustainable development   show
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Ecological footprint   show
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Ecotourism   show
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Sustainable Development Goals   show
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