Industrial Rev
Trade and the World Economy
Economic Activities
Theories of Econ.
and Soc. Development
and Soc. Development
Misc.
100
What was the "Industrial Revolution"?
A period of rapid economic and technological change that began in the late 18th century and spread throughout Europe, America and most of the world resulting in mass production of cheaper goods.
100
economic policies that promote free market principles, such as deregulation, liberalization, and privatization.
What is ...neoliberal policies.
100
Place on the Rostow Model: Automotive, manufacturing, food processing.
What is ...Secondary (2) economic sector
100
GNI or Gross National Income measures what?
All income generated by a country's people regardless of where it was earning in the world. Seen as an alternative to GDP.
100
Fayetteville, Arkansas is an example from the Sun Belt of specific industries increasing wages, housing, and the local economy. This is called a...
Growth Pole
200
What is a "Break - of - Bulk Point"? Provide one example.
a location where the cargo switches from one mode of transportation to another. These are usually ports or airports.
200
What type of advantage?
Outsourcing of iphone factories to China where labor and manufacturing is cheaper than if iphones were produced in the US
What is ...Comparative Advantage
200
NGO’s, Nursing Homes, Police Service
What is...Quinary (5) economic sector
200
_____ , _____ and _____ are indicators of the human development index.
What is ... Life expectancy at birth, Expected years of schooling/mean years of schooling, GNI per capita.
200
Schengen, China has an agglomeration of services related to technology, particularly iphones. This area is known for its large workforce and essential services, known as a SEZ or
Special Economic Zone
300
A “market economy” is determined by these three factors.
consumers preferences, producers seeking profits, purchasing power
300
Functions as an area with cheaper labor and less business restrictions in Mexico that pairs with a parent company in the USA
What is ...Maquiladora
300
Walerstein's World Systems Theory says that Core countries benefit from Periphery countries who are dependent upon them. Many argue this directly descends from what historical connection?
What is colonialism?
300
Commodity dependence occurs when ____ % of a country's exports are commodities.
What is ...60% of a country's exports are commodities.
300
Reducing government spending, often in an effort to reduce budget deficits or debt. (What type of neoliberal policy?)
Austerity
400
What’s the difference between a "command" economy, a "market" economy, and a "mixed economy"?
Command=Government directed and controlled
Market=Private enterprise with little to no government control
Mixed = hybrid between market and command. Characterized by a mix of private enterprise and government control.
400
Reducing government spending, often in an effort to reduce budget deficits or debt.
What is ...austerity measures.
400
Which of these levels of economic activity is concerned with the generation and sharing of knowledge and research?
What is ...Quaternary (4) economic sector
400
Economic growth becomes self-sustaining. Huge technological advancement, development of the domestic manufacturing sector.
What is ...Stage 3 (Rostow’s Model)
400
Describe the difference between a “Supranational organization and an “international organization”.
500
Describe "Alfred Weber’s Least Cost Theory".
attempts to describe and predict the location of manufacturing industries based on three factors: transportation costs, labor cost, and the benefit of agglomeration (clustering with similar, interdependent businesses)
500
The US, MEX, CAN used to be in a free-trade relationship called NAFTA (North American Free Trade Agreement) that removed all ______ .
What is ...tariffs
500
Alfred Weber’s Least Cost Theory
Model of industrial location emphasizes the owner’s desire to _______ costs and create an _________ of services
What is ...minimize, agglomeration
500
_____ _____ _____ includes the earnings from all assets owned by residents, omitting the earnings of all foreigners living in the country.
What is ...Gross National Product
500
What do the following stand for?
MPI, GDP, GNP, EPI, GDI, GNI, HDI,
Gross Domestic Product (GDP)
Gross National Product (GNP)
Gross National Income (GNI)
Human Development Index (HDI)
Multidimensional Poverty Index (MPI)
Gender Development Index (GDI)
Environmental Performance Index (EPI)