Organizations/Groups
South Korea (Seoul), Taiwan (Taipei), Hong Kong, and Singapore (industrial powers)
What is the Asian Tigers (Asian Dragons)?
Factories located across the US/Mexico border many created in response to NAFTA and free trade polices
What is Least Cost Theory (Alfred Weber)?
Number of working people are supporting higher number equals more pressure on middle age to support others
Brazil, Russia, India, China, and South Africa
Areas where countries encourage foreign corporations to locate to
What is Special Economic Zones (SEZ)?
Two vendors located at two separate spots to maximize profits
What is Hotelling's Theory?
A composite statistic used to measure and rank countries based on their levels of human development
What is UN Human Development Index (HDI)?
South American trade agreement
What is Mercosur?
One type of SEZ, a smaller very specific purpose of producing exported goods
What is Export Processing Zones (EPZ)?
Categorizes countries into core, semi-periphery, and periphery based on their roles in the global economy
What is Wallerstein's World Systems Theory?
Countries refer to their level of economic and social progress one has high living standards and the other has low living standards
What is Developed vs. Developing?
Organization of Petroleum Exporting Countries
What is OPEC?
A trade agreement that eliminated tariffs between countries involved versus a supranational organization that promotes economic and political integration between the member states
What is NAFTA vs EU?
Stages of economic growth include Traditional Society, Preconditions for Take-Off, Take-Off, Drive to Maturity, and Age of High Mass Consumption
What is Rostow's Modernization Model?
Value of goods and services produced within a country's borders regardless of who owns thems versus produced by a country's residents
What is GNP vs GDP?
A Supranational organization that creates policies on global trading
What is WTO (World Trade Organization)?
Grouping together of many firms from the same industry in a single area
What is Agglomeration?
Model of economic development that treats econmoic disparities among countries or regions as the result of historically derived power relations within the global economic system
What is Structuralist Theory?
A measure of a country's total income earned by its citizens and businesses, regardless of where the income was earned
What is Gross National Income (GNI)?