Vocab
What is a core country?
A highly developed country that is industrialized, economically dominant, high standards of living, and take advantage of both semi-periphery and periphery countries.
What does GDP stand for and what does it measure?
It stand for Gross Domestic Product, and it measures the total value of goods and services produced within a year.
Is Iraq a core, semi-periphery, or a periphery country?
What is outsourcing in business?
When a company hires another company (often in a different country) to do jobs for them, usually to save money for them.
what does EPZ stand for?
Export processing zones
What is Grameen Bank?
Grameen banks provide financial services to the poor, especially women, to help get or make jobs.
Name one area of life that GII looks at to measure inequality
Education, job opportunities, or reproductive health
Explain the concept behind dependency theory?
The dependency theory shows the relations between trading, larger more advanced countries and less advanced countries using core, semi periphery, and periphery to further explain this.
What is bulk reducing industry?
An industry where the final product is lighter or smaller than the raw materials used to make it.
explain what an agglomeration is?
a cluster of similar businesses in a specific area, leading to shared resources, inflation, and labor pools.
What is a tariff?
A tariff is a tax or duty imposed by a government on goods imported into a country, often used to protect domestic industries and raise revenue.
Countries with a higher GDP are more likely to fall into which development category?
MDC (More Developed Countries)
What are the four economic activities of economic sectors theory?
primary, secondary, Tertiary, Quaternary
What is one environmental impact of industrialization?
Industrialization has lead to pollution, deforestation, and the depletion of natural resources due to increased demand for raw materials.
How can a growth pole help rural or less developed areas nearby?
It can create jobs and bring in money and services to those areas.
What is offshoring?
Offshoring refers to the relocation of business processes or work functions to another country, often to benefit from lower costs for a more favorable regulatory environment.
How did NAFTA impact manufacturing patterns in North America?
It encouraged companies to move factories to Mexico for lower labor costs, leading to job loss in the U.S. and industrial growth in Mexico.
What stage of Rostow is this country?
This country has been industrialized for quite some times now, has has multiple leaders, and has a very good national trading.
Stage 4 (Drive to Maturity)
explain what deindustrialization is and what it starts.
when a country has a decline in manufacturing and a shift from manufacturing based economy to a service based, this is because globalization, technological advancements, and shifts in customer preferences.
How is post fordism different from fordism?
Post fordism focuses on small, specialized teams and more variety in products, while fordism focuses on mass production.
What is a maquiladora?
A maquiladora is a factory typically located in Mexico, that assembles imported parts into finished goods for export, often to the United States, taking advantage of cheaper labor and proximity to markets
How have SEZs contributed to the uneven economic development within countries like China or India?
SEZs often grow rapidly and attract investment, while rural or non-SEZ areas lag behind, increasing regional inequality.
Why would a business move for least cost theory?
The business would be trying to cut down on costs and transport times ultimately maximizing profits.
complimentarity is when two places have a potential relationship, usually economic interactions, where one places output compliments others needs
explain fordism vs post fordism.
fordism, exemplified by Henry Fords assembly line, focused on mass production of standardized goods, while post- fordism emphasizes flexible production systems, globalization, and adaptabiltiy to change consumer demands.