Vocabulary
Coal, oil, and natural gas are examples of this type of energy.
Name two social indicators used in HDI.
education and life expectancy
Which model divides the world into core, periphery, and semi-periphery regions?
Wallerstein’s World Systems Theory
Name one factor that influences where an industry is located.
transportation, labor, or raw materials
Sets rules for international trade.
World Trade Organization
This energy source powered early factories and the Industrial Revolution.
Coal
Which indicator compares the number of men to women in political and economic positions?
Gender Inequality Index
Rostow’s model starts with which stage?
traditional society
The clustering of similar industries for mutual benefit
Agglomeration
World Bank
This sector includes services like retail, education, and banking.
Tertiary
What does GNI per capita measure?
the average income per person
Which model is used to predict the location of industries based on transportation, labor, and agglomeration?
Weber’s Least Cost Theory
This is the reason why call centers are often located in India or the Philippines.
English proficiency
The term for a company that operates in multiple countries.
Transnational corporation (TNC)
Economic activity that is not taxed or monitored by the government.
Informal Economy
Name a country with high GNI but relatively low health/education outcomes
Qatar or Saudi Arabia
What happens in the final stage of Rostow's model?
mass consumption
Process where companies move production to lower-cost locations.
Will accept either: outsourcing or offshoring
Which trade agreement includes the U.S., Mexico, and Canada?
USMCA (formerly NAFTA)
When manufacturing shifts from developed countries to developing ones.
Deindustrializing
The country of Côte d’Ivoire (Ivory coast) relies heavily on exporting cocoa. This makes its economy vulnerable to global price changes. This situation is best described as
Commodity dependence
Which model is criticized for being Eurocentric and assuming all countries follow the same path?
Rostow’s Stages of Economic Growth
These areas are found in industrializing areas, from East Asia to Latin America.
manufacturing export zone
or export processing zone
or special economic zone
When a country specializes in producing goods it can make more efficiently than others and trades for the rest, this is known as:
comparative advantage