1-5
Primary activities extracts or harvests products from the earth such as raw materials and basic foods.
Primary Activities
A composite statistic used to rank countries by level of "human development." It is a comparative measure of life expectancy, literacy, education and standards of living for countries worldwide.
Human Development Index (HDI)
an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners
Comparative Advantage
The number of deaths of babies under one year of age per 1,000 live births.
Infant mortality rate
The core countries are the industrialized capitalist or imperialist countries, which depend on appropriation from peripheral countries and semi-peripheral countries. Core countries control and benefit from the global market.
Core Countries
produces finished goods from the raw materials extracted by the primary economy.
Secondary Activities
The total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.
Gross Domestic Product (GDP)
The total amount of money earned by a nation's people and businesses.
Gross National Income (GNI)
The average number of children that would be born to a woman over her lifetime.
Total Fertility Rate
The semi-periphery countries are the industrializing, mostly capitalist countries which are positioned between the periphery and core countries.
Semi-Periphery Countries
Also known as the service industry. This sector sells the goods produced by the secondary sector.
Tertiary Activities
refers to the growing interconnectedness of the world through trade, culture, technology, and transportation.
Globalization
includes GDP, income earned by residents from overseas investments, minus income earned by foreign residents.
Gross National Product (GNP)
the percent of the population that can read and write.
Literacy rate
The periphery countries are those that are less developed than the semi-periphery and core countries. These countries usually receive a disproportionately small share of global wealth.
Periphery Countries
The knowledge, economy, and jobs dealing with other people's money.
Quaternary Activities:
a process used by firms to gather resources, transform them into goods or commodities, and finally, distribute them to consumers.
Commodity Chain
a measure of the total output of a country (the gross domestic product) divided by the number of people in the country.
Per capita GDP
a composite metric of gender inequality using three dimensions: reproductive health, empowerment and the labor market.
Gender Inequality Index
States that industry is situated within the area where the costs of transporting raw materials and the final output are minimal. Therefore, in this theory, Weber attempted to consider the role of transportation costs when choosing the location of an industry.
Weber's Least Cost Theory
The quinary sector includes the highest levels of decision-making in a society or economy.
Quinary Activities
The actual or potential relationship between two places, usually referring to economic interactions
Complementarity
The average expected number of years of life.
Life expectancy
A theory that countries are dependent on each other politically and economically.
Wallerstein's World Systems Theory
products that are larger/bulkier/more volume than their parts
Bulk-gaining