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30 Cards in this Set

  • Front
  • Back

commodity chain

series of links connecting the many places of production and distribution and resulting in a commodity that is on world market

break of bulk location

a location where transfer is possible from one mode of transportation to another

GNP (gross national product)

the total value of all goods and services produced by a country's economy in a given year. It includes all goods and services produced by corporations and individuals of a country, whether or not they are located within the country

gross domestic product (GDP)

the total value of goods and services produced within the borders of a country during a specific time period, usually one year

gross national income (GNI)

the total value of goods and services produced by a country per year plus net income earned abroad by its nationals; formerly called "gross national product.

per capita GNI

the Gross National Product of a given country divided by its population

formal economy

the legal economy that is taxed and monitored by a government and is included in a government's Gross National Product; as opposed to an informal economy

informal economy

economic activity that is neither taxed nor monitored by a government; and is not included in that government's Gross National Product; as opposed to a formal economy

digital divide

the gulf between those who have ready access to computers and the Internet, and those who do not.

Millennium Development Goals

(MDGs) are the eight international development goals that were established following the Millennium Summit of the United Nations in 2000, following the adoption of the United Nations Millennium Declaration.

modernization model

a model of economic development most closely associated with the work of economist Walter Rostow. The modernization model (sometimes referred to as modernization theory) maintains that all countries go through five interrelated stages of development, which culminate in an economic state of self-sustained economic growth and high levels of mass consumption.


the geographical situation in which something occurs; the combination of what is happening at a variety of scales concurrently


the entrenchment of the colonial order, such as trade and investment, under a new guise

structuralist theory

a general term for a model of economic development that treats economic disparities among countries or regions as the result of historically derived power relations within the global economic system

dependency theory

a structuralist theory that offers a critique of the modernization model of development. Based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can develop


when a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency as its own

world-systems theory

(Immanuel Wallerstein) illuminated by a three-tier structure (core, semi-periphery, periphery); refers to perspective that seeks to explain the dynamics of the "capitalist world economy"t; as a "total social system". Important because explains the power hierarchy in which powerful and wealthy "core" societies dominate and exploit weak and poor peripheral societies

three-tier system

Three-Tier Structure with reference to Immanuel Wallerstein's world-system's theory, the divisions of the world into the core, the periphery, and the semi-periphery as means to help explain the interconnections between places in the global economy.


when a family sends a child or an adult to a labor recruiter in hope that the labor recruiter will send money, and the family member will earn more money to send home

structural adjustment loans

is a type of loan to developing countries. It is the mechanism by which international financial institutions, such as the World Bank and International Monetary Fund, imposestructural adjustment.

Washington Consensus

is a set of 10 economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C.–based institutions such as the International Monetary Fund (IMF), World Bank, and the US Treasury Department.


an approach to economics and social studies in which control of economic factors is shifted from the public sector to the private sector.

export processing zones (EPZs)

zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment


those U.S. firms that have factories just outside the United States/Mexican border in areas that have been specially designated by the Mexican government. In such areas, factories cheaply assemble goods for export back into the United States

special economic zones

specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment


an alliance that merges Canada, Mexico and the United States into a single market


the encroachment of desert conditions on moister zones along the desert margins, wehre plant cover and soils are threatedned by dessiccation-through overuse in part by humans and their domestic animals and possibly in part becouse of the inexorable shifts in the earths environmental zones

island of development

place built up by a government or corporation to attract foreign investment and which has relatively high concentrations of paying jobs and infrastructure


international organizations that operate outside of the formal political arena but that are nevertheless influential in spearheading international initiatives on social, economic, and environmental issues

microcredit program

program that provides small loans to poor people, especially women, to encourage development of small businesses