Development Unit 7 Word Scramble
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| Term | Definition |
| Agglomeration | When companies cluster spatially |
| Base industry | Industry of disproportionate importance, which other industries depend on |
| Break–of–bulk point | Location where bulk cargo is transferred to a new mode of transportation |
| Cogeneration | Producing two forms of energy from one fuel |
| Comparative advantage | When one country can produce something more efficiently than others |
| Complementarity | How well country’s imports and exports line up |
| Customs union | A free trade agreement among two or more member countries, with one external trade policy for nonmembers (EUCU is an example) |
| Debt crisis | 1980s Latin America is a great example of this, also 2008 |
| Deindustrialization | Created the rust belt |
| Ecotourism | Travel that supports local conservation and communities |
| Free trade agreement | Any agreement between countries that lowers trade barriers |
| Gender Parity | Documents progress towards gender equality |
| Gross domestic product (GDP) | Total value of goods and services produced within a country |
| Gross national income (GNI) | Total income of a country's residents and businesses, regardless of where it was earned. |
| Gross national product (GNP) | Total value of goods and services made by the country’s residents |
| Import substitution | Economic development policy that tries to increase domestic goods and decrease imports– a big part of the Latin American Debt Crisis |
| Informal sector | Economy that is not taxed |
| International division of Labor | Uneven world economic system created by imperialism |
| International Monetary Fund | Loans money, a huge part of neoliberal globalization after WWII. |
| Labor productivity | The average amount of goods or services produced per worker per unit of time |
| Least–cost theory | Webers theory about how weight of goods impacts locations |
| Mercosur | South American trade bloc |
| Microloan | Very small loans to high credit risk people |
| Multiplier effects | When investment in one industry indirectly causes more businesses and jobs |
| Neoliberalism | Pro–free trade market, pro–capitalist, pro–transnational corporations, anti–government regulations in the global economy |
| Offshoring | When companies relocate manufacturing, etc. to another country |
| OPEC | Oil producing country trade agreement |
| Outsourcing | When companies transfer part of their own operations to a third party |
| Point source pollution | Any single place of contamination |
| Post–Fordism | Shift away from a central manufacturing center, away from mass production, and away from a permanent workforce |
| Primary sector | Extractive industries |
| Protectionism | Government policy of increasing trade barriers and regulations on imports |
| PPP– Purchasing power parity | Measures countries by how much they can buy for the same amount of money |
| Quaternary sector | Innovation and invention industries |
| Quinary Sector | Global–scale level of management industries |
| Secondary sector | Manufacturing industries |
| SDGs | Holistic goals for global sustainable development |
| Special economic zone (SEZ) | Areas in developing countries where normal laws do not apply to attract businesses, little of the money reaches the local people |
| Tertiary sector | Service industries |
| World systems Theory | Wallerstein’s theory that countries are split between core– periphery– semi–periphery |
| Growth Pole | Geographically pinpointed center of economic activity organized around a designated industry, commonly n the high-tech sector. |
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jpastel
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