*Lower order urban areas serve smaller regions and have fewer goods and services. *Higher-order urban areas server larger areas have more goods including those of the urban areas lower in the order. *The largest cities will be the production centers for establishments with the largest market areas but they will also provide all the goods and services available in the lower order cities Concept?
What is Central Place Theory?
100
Comprises the central county or counties or equivalent entities containing the core, plus adjacent outlying counties having a high degree of social and economic integration with the central county or counties as measured through commuting. At least 10,000 population in urbanized area
What is a core based statistical area?
100
US dominance in products, markets, finance; Shift to to larger and larger corporations; Dominance of US multi-plant corporations; Baby boom fueled domestic growth; New consumer spending; Military innovation;WWII translated into civilian uses
US Led Mature Industrial Capitalism (1945-1973)
100
Assist businesses in likelihood of making profit; Create business-friendly environment
What is role of economic development within the market system?
100
Summarizes the total impact expected for a change in economic activity in the base
What is economic base multiplier?
200
a set of human and social activities and institutions related to the production, distribution, exchange and consumption of goods and services
What is an economy ?
200
omprises the central county or counties or equivalent entities containing the core, plus adjacent outlying counties
having a high degree of social and economic integration with the central county or counties as measured through commuting. At least 50,000 population in urbanized area
What is a MSA?
200
Emergence of large powerful national corporations
–Large scale, assembly line manufacturing.
–Large variety of consumer goods.
–From protectionist to Free Trade.
–Technology change was important – the harnessing of electricity, the electric motor, steel, telephone, internal combustion engine.
What is National Industrial Capitalism (1895 – 1945)?
200
DOUBLE WILD CARD!!!!
What is rocking and rolling!!!!!
200
Explores such questions such as, “How should the economy be organized to be efficient and/or equitable"
What is normative economics?
300
Device for measuring the relative specialization of the region in select industry categories or sectors
What is a location quotient?
300
Inertia, Transportation Cost-Minimizing Models, Production Costs, Labor costs, Quality of Life
What are locational factors?
300
Based on agriculture and the export of staple products
Major Function – import of manufactured products from Europe and exporting raw materials (fish, fur, timber, agricultural products)
Households and small workshops rather than factories.
Major industry was cotton textiles.
What is The Frontier Mercantile Era?
300
A group of enterprises (private businesses or government-operated corporations) that produce a specific type of good or service
What is an industry?
300
Increases in income, increases in population density, increases in transportation costs
What are reasons the size of market areas may decrease?
400
The geographic space in which a product is sold
What is definition of market area?
400
NAICS
What is the North American Industrial Classification System?
400
The task is to determine the facts of economic life. How things are rather than how one thinks they should be.
What is positive economics?
400
The minimum quantity a producer must sell (amount of demand) to earn a normal profit?
What is threshold demand?
400
Reasons for the initial decision to locate in a given place may not have changed. This is called
What is inertia?
500
Direct method, Assumptions, Minimum Requirements, Location Quotients
What are ways to measure the economic base?
500
WILD CARD
What is Winning?
500
The start of manufacturing and processing plants using capital derived from trade. Small industry – protected by trade barriers Steam engine, railroad. Availability of cheap labor. Opening of rich hinterlands (Midwest, Ontario) Stimulus from the Civil War
What is Early Industrial ( 1845 – 1895)?
500
The tendency of establishments to locate in the middle of their market
What is principle of median location?
500
Refers to the process in which local governments or community-based (neighborhood) organizations engage to stimulate or maintain business activity and/or employment