Economic Sectors
Industrialization
Vocabulary
Rostow
Weber's Least Cost Theory
Wallerstein
Measures of Development
Random
25
Fishing, farming, forestry, and mining are part of which economic sector
Primary Sector
25
When and where did the Industrial Revolution begin
Mid 1700s AND England
25
Tourism to exotic or threatened ecosystems to observe wildlife or to help preserve nature.
Eco-Tourism
25
What stage of Rostow's Economic Development would the United States below to?
Age of High Mass Consumption (Stage 5)
25
___________________ is when similar businesses cluster in the same area. Businesses support each other, reduce costs
Agglomeration
25
What are the 3 stages of Wallerstein?
Core, Periphery, and Semi-Periphery
25
Total value of goods produced and services provided in a country during one year
GDP (Gross Domestic Product)
25
Is contracting work out to noncompany employees or other countries - example: customer service call center in India
Outsourcing
50
Most people in the United States work in this economic sector, such as retail, marketing, banking, etc.?
Tertiary Sector
50
What is the image below an example of?
Assembly Line (substitution principle)
50
A post-industrial zone in the northeastern United States. (abandoned factories)
Rust Belt
50
What stage of Rostow's Economic Development would a poor African country below to?
Traditional Society (Stage 1)
50
What are the 3 major factors that determine location
Transportation
Labor
Agglomeration
50
What stage has the following characteristics:
Urban ▪Most Developed Countries ▪ Highly Industrialized ▪ Powerful government (usually democratic) ▪ Financial Power (controls global markets) ▪ Needs labor and natural resources from periphery and semiperiphery nations
Core Countries
50
Measures the value of goods and services produced by country’s citizens both domestically and aboard
GNP (Gross National Product)
50
What are 5 of the United Nations’ (UNs’) Sustainability development goals
No poverty
Zero hunger
Good health and well-being
Quality education
Gender equality
Clean water and sanitation
Affordable and clean energy
Decent work and economic growth
Industry, Innovation, and Infrastructure
Reducing inequalities
Sustainable cities and communities
Responsible consumption and production
Climate action
Life below water[edit]
Life on land
Peace, justice and strong institutions
75
This economic sector involves the processing of raw materials, such as manufacturing and building
Secondary Sector
75
Industrial/Manufacturing jobs are moving to the ____________________ as a result of the rust belt.
Also, why????
Sun-belt
Better paying jobs, cheaper cost of living, warmer
75
A program that gives money to the poor, particularly women, to encourage the development of businesses.
Micro-finance/micro-loans
75
What stage is described below:
Over 85% of this country that is counted in the labor force is involved in Agriculture. This country mostly produces cocoa, coffee, tea, oil, copper, and wood for countries like Australia, China, and Japan.
Traditional Society
75
An industry in which the final product weighs more or comprises a greater volume than the inputs (example: the production of automobiles)
Bulk-Gaining Industry (Weight Gaining)
75
What stage is described below?
▪ Primary Sector Economy (agricultural) – high % of low-skill jobs
Periphery Countries
75
GNP divided by a country’s population so that you have an estimated income per person
Gross National Income Per Capita
75
Industrial areas where the gov't creates specialized policies and desirable investment and or manufacturing conditions to attract businesses
EPZ's (Export Processing Zones)
100
President or CEO would be found in this economic sector
Quinary Sector
100
What is the image below
Multiplier Effect
100
Whereby the major world powers control the economies of the poorer countries, even though the poorer countries are now politically independent, sovereign states.
Neo-Colonialism
100
What stage is described below:
This industrial newcomer is currently making waves in the world market. Although they have one of the highest GDPs (4th) their GDP per capita is extremely low (166th). This country is becoming a regional giant, and will certainly continue to grow as it develops its manufacturing capabilities
Pre-Conditions to Take-off or Take-off
100
An industry in which the final product weighs less or comprises a lower volume than the input. (Example:production of potato chips)
Bulk-Reducing Industry (Weight Losing)
100
What stages is described below:
Sometimes known as emerging economies (developing countries) - manufactures goods
Semi-periphery countries
100
examines three features of a country’s human development: long and healthy life, knowledge, and standard of living
Human Development Index (HDI)
100
one trade partner might be better at producing agricultural goods, while the other partner might be better at manufacturing products. Each will specialize at what they are good at.
COMPARATIVE ADVANTAGE
125
College Professors would be part of this economic sector
Quaternary Sector
125
________________ began in the 1980's, workers are being replaced by machines because it cuts costs
Post-Fordism
125
A region of many hightech businesses (agglomeration) Silicon Valley, CA
Growpole or Technopole
125
What are the 5 Stages of Rostow's Economic Development
1) Traditional Society
2) Pre-Conditions to Take-off
3) Take-off
4) Drive to maturity
5) Age of High Mass Consumption
125
What are 10 core countries?
Australia
Austria
Belgium
Canada
Denmark
Finland
France
Germany
Ireland
Italy
Japan
Netherlands
New Zealand
Norway
Portugal
Spain
Sweden
Switzerland
United Kingdom
United States
125
measures gender inequality, and looks at reproductive health, levels of empowerment, and labor-market participation
Gender Inequality Index (GII)
125
a location where transfer is possible from one mode of transportation to another.
break bulk