PHHS - APHUG: Important vocab for Unit 6 - Industrialization and Economic Devel.
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| resources that are finite in amount; once they are used up they are gone | non-renewable resources
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| resources that are infinite in amount and can be used over and over again | renewable resources
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| concept that the value of a manufactured product is greater than the sum of its raw materials | value-added processing
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| product that is expected to last/be used for more than one year | durable good
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| product that is expected to last/be used for less than one year | non-durable good
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| 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
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| service jobs that are usually low pay, little/no benefits offered | low-benefit services
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| service jobs that are higher (usually salaried) pay, benefits offered | high-benefit services
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| one of the five required inputs for manufacturing; physical things that are changed somehow to produce a good | raw materials
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| one of the five required inputs for manufacturing; people are needed to perform work | labor
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| one of the five required inputs for manufacturing; raw materials need to get to factories, and finished products need to get to consumers | transportation
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| one of the five required inputs for manufacturing; facilities and services are needed for the factory to operate/be efficient | infrastructure
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| one of the five required inputs for manufacturing; a "power source" is needed to do the work | energy
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| industries where the raw materials and manufacturing are located in the same place | primary industries
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| industries where the raw materials and manufacturing are located in different places with some amount distance in between | secondary industries
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| 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
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| states that three costs will attempt to be minimized when considering where to locate secondary industries: transportation, labor, and agglomerations | least cost theory
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| principle that industries can absorb the one cost increase as long as another input descreases in cost | substitution principle
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| occurs when agglomerations become over-developed and lead to increasing costs of land, labor, and transportation | deglomeration
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| industries that use large, bulky raw materials to create smaller, lighter finished products | weight losing industries
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| industries that assemble many small, light parts into a large, bulky finished product | weight gaining industries
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| process where one company oversees all steps in a commodity chain | Fordism
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| movement that introduced mechanization in the secondary sector | Industrial Revolution
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| one of the primary industrial regions; includes England, France, Germany, and northern Italy | Central and Western Europe
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| one of the primary industrial regions; includes northeastern United States and southeastern Canada | Eastern North America
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| one of the primary industrial regions; includes central Asia | Russia and Ukraine
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| one of the primary industrial regions; includes China and Japan | East Asia
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| ability to produce a good or service at a lower opportunity cost | comparitive advantage
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| place where transported cargo is transferred to another type of carrier | break-of-bulk point
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| Chinese cities not subject to normal communist economic laws | Special Economic Zones (SEZs)
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| exports zones in northern Mexico that primarily manufacture goods for export to the United States | maquiladoras
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| divides the world into categories: 1st world/2nd world/3rd world | Cold War model
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| 3rd world states that do not have a functioning economy | 4th world states
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| 3rd world states that do not have a functioning economy, nor a functioning government | 5th world states
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| theory that divides the world economically into cores, peripheries, and semi-peripheries | World Systems Theory
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| South Korea, Taiwan, Hong Kong, Singapore; industrialized in the 1950s-1970s through U.S. foreign aid | Old Asian Tigers
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| China, India, Vietnam, Thailand, Malaysia, Indonesia, the Philippines; industrialized in the 1980s-1990s through foreign direct investment | New Asian Tigers
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| total value of goods and services produced by one country's citizens in one year | Gross National Product (GNP)
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| total value of goods and services produced in one country in one year | Gross Domestic Product (GDP)
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| 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)
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| when the value of a country's exports is higher than its imports | trade surplus
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| when the value of a country's imports is higher than its exports | trade deficit
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| a calculation made on a "per person" basis | per capita
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| 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)
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| measures income disparity of a country's citizens on a scale of 0-1 or 0-100 | Gini Coefficient
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| measures the inequalities between men and women in a country | Gender-Related Development Index (GDI)
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| theory that all countries will go through 5 similar stages as they industrialize; created by Walt Rostow | Modernization Model
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| three main criticisms of the modernization model: | colonial legacies, government corruption, capital flight
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| theory that countries will get stuck in cycles of debt and repayment as they attempt to industrialize; created by Raul Prebisch | Dependency Theory
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| Possible ways to end the cycle of dependency: | prevent capital flight, create import substitution, nationalize industries, use profit-sharing agreements, develop high technology
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| money given from 1st world to 3rd world countries | foreign aid
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| money loaned from organizations like the World Bank and IMF to developing countries to assist in industrialization and construction of infrastructure | development loans
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| money invested by individuals or corporations in emerging economies with the hopes of making large profits | foreign direct investment
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| the process by which a country shifts from manufacturing to services as the dominant economic sector | deindustrialization
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| reason why America deindustrialized | foreign competition in manufacturing
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| states that retail locations should be placed in areas that meets the threshold number and minimizes the range of consumer travel | retail location theory
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| theory that analyzes desireable traits in areas to attract protential employees | service location theory
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| cities that drive the global economy due to contentrations of money and power | world cities
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| carbon emmissions contribute to the greenhouse effect, a condition known as | global warming
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