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53 Cards in this Set

  • Front
  • Back
grouping together many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labor resources
ancillary activities
economic activities that surround and support large-scale industries such as shipping and food service
human-centered; in sustainable development, it refers to ideas that focus solely on the needs of people w/o considering the creatures with whom we share the planet or the ecosystems upon which we depend
backwash effect
the negative effects on one region that result from economic growth within another region
brick-and-mortar business
traditional businesses with actual stores in which trade or retail occurs; it does not exist solely on the internet
conglomerate corporation
a firm that is comprised of many smaller firms that serve several different functions
national or global regions where economic power, in terms of wealth, innovation, and advanced technology, is concentrated
core-periphery model
a model of the spatial structure of development in which underdeveloped countries are defined by their dependence on a developed core region
the dispersal of an industry that formerly existed in an established agglomeration
loss of industrial activity in a region
the process of economic growth, expansion, or realization of regional resource potential
web-based economic activities
economic backwaters
regions that fail to gain from national economic development
export-processing zone
areas where gov'ts create favorable investment and trading conditions to attract export-oriented countries
east world
areas of the world, usually the economic core, that experience greater levels of connection due to high-speed telecommunications and transportation technologies
footloose firms
mfg activities in which cost of transporting both raw materials and finished product is not important for determining the location of the firm
system of standardized mass production attributed to henry ford
foreign investment
overseas business investments made by private companies
gender equity
a measure of the opportunities given to women compared to men within a given country
the idea that the world is becoming increasingly interconnected on a global scale such that smaller scales of political and economic life are becoming obsolete
gross domestic product
the total value of goods and services produced within the borders of a country during a specific time period, usually one year
gross national product
the total value of goods and services, including income received from abroad, produced by residents of a country within a specific time period, usually 1 year
human development index
measure used by United Nations that calculates development not in terms of money or productivity but in terms of human welfare. it evaluates human welfare based on 3 parameters: life expectancy, education, and income
industrial revolution
the rapid economic and social changes in mfg that resulted after the introduction of the factory system to the textile industry in England at the end of the 18th century
process of industrial development in which countries evolve economically, from producing basic, primary goods to using modern factories for mass-producing goods. at the highest levels of development, nat'l economies are geared mainly toward the delivery of services and exchange of info
industrialized countries
those countries including britain, france, the US, russia, germany, and japan, that were all at the forefront of industrial production thru the middle of the 20th century. while industry is currently shifting to other countries to take advantage of cheaper labor and more relaxed environmental standards, these countries still account for a large portion of the world's total industrial output
least-cost theory
a concept developed by alfred weber to describe the optimal location of a mfg establishment in relation to the costs of transport and labor, and the relative advantages of agglomeration or deglomeration
least-developed countries
those countries including countries in africa, except for south africa, and parts of south america and asia, that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living
manufacturing region
a region in which mfg activities have clustered together. the major US industrial region has historically been in the great lakes, which inclues the states of michigan, illinois, indiana, ohio, new york, and pennsylvania. these regions also exist in southeastern brazil, central england, around tokyo, japan, and elsewhere
those US firms that have factories just outside the US/mexican border in areas that have been specially designated by the mexican govt. in such areas, factories cheaply assemble goods for export back to the US
net national product
a measure of all goods and services produced by a country in a year, including production from its investments abroad, minus the loss or degradation of natural resource capita as a result of productivity
offshore financial center
areas that have been specially designed to promote business transactions, and thus have become centers for banking and finance
countries that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living. the world economic perihpery include africa (except for south africa), parts of south america, and asia
primary economic activities
economic activities in which natural resources are made available for use or further processing, including mining, agriculture, forestry, and fishing
a measure of the goods and services produced within a particular country
purchasing power parity
a monetary measurement of development that takes into account what money buys in different countries
quaternary economic activities
economic activities concerned with research, info gathering, and administration
quinary economic activities
the most advanced form of quaternary activities consisting of high-level decision making for large corps or high-level sci research
the process by which specific regions acquire characteristics that differentiate them from others within the same country. in economic geography, it onvolves the development of dominant economic activities in particular regions
rostow's stages of development
a model of economic developent that describes a country's progression which occurs in 5 stages transforming them from least-developed to most-developed countries
rust belt
the mfg region in the US that is currently debilitated b/c many mfg firms have relocated to countries offering cheaper labor and relaxed environmental regulations
secondary economic activities
economic activities concerned with the processing of raw materials such as mfg, construction, and power generation
those newly industrialized countries with median standards of living, such as chile, brazil, india, china, and indonesia. these countries offer their citizens relatively diverse economic opportunities but also have extreme gaps b/w rich and poor
service-based economies
highly developed economies that focus on research and development, marketing, tourism, sales, and telecommunications
slow world
the developing world that does not experience the benefits of high-speed telecommunications and transportation technology
spatially fixed costs
an input cost in mfg that remains constant wherever production is located
spatially variable costs
an input cost in mfg that changes significantly from place to place in its total amt and in its relative share of total costs
specialty goods
goods that are not mass-produced but rather assembled individually or in small quantities
sustainable development
the idea that people living today should be able to meet their needs w/o prohibiting the ability of future generations to do the same
tertiary economic activities
activities that provide the market exchange of goods that bring together consumers and providers of services such as retail, transportation, gov't, personal, and professional services
transnational corporation
a firm that conducts business in at least 2 separate countries; aka multinat'l corps
world cities
a group of cities that form an interconnected, internationally dominant system of global control of finance and commerce
world-systems theory
theory developed by immanuel wallerstein that explains the emergence of a core, periphery, and semi-periphery in terms of economic and political connections 1st est at the beginning of exploration in the late 15th century and maintained thru increased economic access up until the present