Industrial Revolution
Where was the hearth of the Industrial Revolution located and when did it begin?
England in the 1700s
What three factors did Weber say needed to be considered when deciding where to open a factory?
Transportation costs, labor costs, agglomeration
What is the largest trading bloc in the world?
The European Union
How many stages of development are included in Rostow’s model?
Five
In highly developed countries, which economic sector is the most dominant?
Tertiary
In which region is ecotourism most prevalent?
Latin America
Which world region has been the least impacted by industrialization?
Sub-Saharan Africa
In Least Cost Theory, what determines the cost of transportation?
Weight of materials and distance shipped
What term describes companies that operate in more than one country?
Transnational corporations
In which stage of Rostow’s model do consumers have disposable income to spend on luxury goods?
Stage 5 - High Mass Consumption
Which term describes the worth of what is produced within a country plus income received from investments outside the country in a given year?
Gross National Income
Google, Meta, and Sony have their own campuses. What is the geographic term for such places?
Business parks
Who invented a means of mass production that was based on the assembly line method and revolutionized manufacturing?
Henry Ford
What are the three points of the locational triangle?
The market, input 1, input 2
Input = source of resource
Honduras has a surplus of bananas and the US wants to buy bananas. What is this an example of?
Complementarity
In which stage of Rostow’s model is there limited trade, primarily based on the barter system?
Stage 1 - Traditional Society
When the car business boomed in Detroit, new entertainment and dining facilities sprang up. What term describes those businesses?
Ancillary activities
When the car business boomed in Detroit, new entertainment and dining facilities sprang up. What term describes those businesses?
Ancillary activities
Why did the population of the world more than double during the Industrial Revolution?
More food was available and medical advances led to longer life expectancies
What is the term for an industry in which the raw materials used to make it are lighter than the final product?
Bulk-gaining industry
What economic approach is based on the idea of free markets and minimal government intervention?
Neoliberalism
In which stage of Rostow’s model does social mobility begin?
Stage 2 - Pre-Condition for Takeoff
Name three Newly Industrialized Countries.
Mexico, Brazil, South Africa, Turkey, China, India, Malaysia, Thailand, Philippines
Name three Newly Industrialized Countries.
Mexico, Brazil, South Africa, Turkey, China, India, Malaysia, Thailand, Philippines
What new political theory emerged as a response to the working and living conditions for factory workers during the Industrial Revolution?
Socialism
What is it called when businesses group together to share costs?
Agglomeration
Explain comparative advantage.
A country should specialize in producing products for export that they hold an advantage in producing.
In which stage of Rostow’s model do the majority of workers shift from agriculture to manufacturing?
Stage 3 - Takeoff
What are the three aims of ecotourism?
Protecting the environment, preserving local culture, providing long term economic benefits to locals
What are the three aims of ecotourism?
Protecting the environment, preserving local culture, and providing long term economic benefits to locals