Primary sector
Economic sector associated with removing or harvesting products from the earth.
when and where did the 2nd industrial revolution take place?
Britain, Germany, United states, France, Italy, and japan in 1870-1914
Definition of least cost theory
A theory by Weber that says businesses should locate their facilities in a particular place because that location minimizes the costs of production.
What is the 1st stage?
Traditional Society
Tourism focused on nature, conservation, and local communities.
Break of bulk points
Locations where goods switch transportation modes.
1. Increased use of machines over human
2. New inventions
3. Better metals and richer fuel
4. New steam engines
Why is Australia an example of a postindustrial economy?
It is less in manufacturing and more in information.
What is the 2nd stage?
Pre-Conditions to Take Off
What is the primary goal of sustainable development?
To meet present needs without compromising the ability of future generations to meet their own needs.
Dual economy
Economies with two district distributions of economic activity across the economic sectors.
what were the major advancements during the 3rd industrial revolution?
Invention of the transistor, helped us process computers better causing us to communicate more, and enabled to be more productive.
Factors of the least cost theory
Transportation, labor, and agglomeration
True or False: Rostow believed all countries must pass through the same stages of development
True
What is the main feature of sustainable agriculture?
Using farming techniques that preserve soil, water, and ecosystems, such as crop rotation, reduced pesticide use, and conservation tillage.
Moving jobs abroad for cost savings.
What were the major advancements during the 4th industrial revolution?
Artificial intelligence and more jobs will be made.
Limitations/ short comings of the least cost theory?
Equal cost of land everywhere, assumes one market, no traffic condition, and no choreographed challenges.
Criticism of Rostow's Model?
All countries do not develop at the same level
What is a key challenge to sustainability in urban areas?
Urban sprawl, which leads to increased reliance on cars, destruction of farmland, and high infrastructure costs.
What does SEZ stand for?
Special Economic Zones
Who made the bessemer process? (must say his first and last name to get credit)
Henry Bessemer
which economic sectors exist in a semi-periphery country?
Secondary sector
According to Rostow, which sector sees rapid expansion during the Take-off stage?
Manufacturing and industrial sectors
(country question) What country is highlighted green?
Peru