7.2+3 Economic Sectors/Patterns+Measures of Development
This economic sector is concerned directly with natural resources of any kind (agriculture, mining, fishing, and forestry)
Primary
This term is used to describe regions that dominate trade, control most advanced technologies, high levels of productivity and diversified economies
Core
This is the taxation of imported goods to the U.S.
Tariffs
This is the process of moving certain aspects of office and production to another country
Offshoring
This term is the promotion of tourist income from activities based on the significance of a countries landscape.
Ecotourism
Historic Figure James Watts is recognized as the creator of this new new source of power for the industrial revolution.
Steam Engine
Regions with undeveloped or narrowly specialized economies with low levels of productivity but potentially have raw materials needed by core countries
Periphery
This term defines policies that favor free markets and privatization over government control.
Neoliberalism
This is the process of industries leaving to other regions. (ie, the Rust Belt)
Deindustrialization
Sustainable Development is described as economic development without the depletion of this
Natural Resources
What economic sector would the CO of walmart be in
Quinary
this Divides the world into three tier structure, helps explain the interconnections between places in global economy.
Wallerstein World Systems Theory / Core-Periphery Model
a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time
Quota
These areas offer favorable tax, regulatory, and trade arrangements to foreign firms
Export Processing Zones (EPZ) or Special Economic Zone
17 goals were created by the UN and serve as countries standards for this general term
Sustainable Development
This term defines the value of goods/services produced WITHIN a country in a year
GDP / Gross Domestic Product
According to Wallerstein, India, Mexico, South Africa, Brazil, and China are all examples of this type of region
Semi-Periphery
EU, World Trade Organization (WTO), Mercosur, USMCA and OPEC are all
Trade Agreements
Outsourcing revolves around contracting work out to other companies who can do it _________ and ___________
Effectively and Cheaper
When developing an ecotourism experience in a country, it is essential to have this demographic involved in planning
locals / natives / inhabitants
The UN'S ___ bases the level of development on
decent standard of living (per capita GNI)
long and healthy life (life expectancy)
access to knowledge (education rates)
Human Development Index
DAILY DOUBLE-----
Name earths five less developed regions
(or 500 pts to the team who names the most)
Latin America, Southeast Asia, The Middle East, South Asia, and Sub-Saharan Africa.
A situation in which one country can produce something more efficiently (lower opportunity cost) than another country.
Comparative Advantage
the increase in time and cost that usually comes with increased distance over which commodities must travel.
Friction of Distance or Distance Decay
Sustainable Development is centered around these three core elements
economic growth, social inclusion and environmental protection