Unit 6
the ongoing process of developing towns and cities
urbanization
The size of population necessary for any particular service to exist and remain profitable
threshold
Caused by an increase in purchasing power, this allowed for customers to spend more money on goods.
mass consumption
A tax on imported goods
tariff
cities with 10 million or more people
megacities
A city with a population over 20 million people
metacities
GDP divided by population
GDP per capita
an urban center with certain attributes that, if augmented by a measure of investment support, will stimulate regional economic development in its hinterland
growth pole
A model that explains the size and spacing of centers that specialize in different goods and services
central place theory
The process by which banks refused loans to those who wanted to purchase/ improve properties in certain urban areas
redlining
define Dependency Theory
a model of economic and social development that explains global inequality in terms of the historical exploitation of poor nations by rich ones
Small-business loans often used to buy equipment or operate a business which have been used to help support women and minority run businesses.
micro loans
The process of wealthier residents moving into a neighborhood, renovating properties, and making it unaffordable for existing residents
gentrification
When people of one ethnic group are frightened into selling their homes at low prices when they hear a family of another race or ethnicity is moving in
blockbusting
A specialized agency of the United Nations that makes loans to countries for economic development, trade promotion, and debt consolidation. Its formal name is the International Bank for Reconstruction and Development.
world bank
The practice of exporting U.S. jobs to lower paid employees in other nations.
offshoring
define brownfield
An abandoned industrial property that has the potential to be a hazard or pollutant
pros of gentrification
-Improves Property Values
-Increases Local Tax Revenue
-Draws In New Businesses
Service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services.
Quaternary Sector
a view of economic development in which countries do not exist in isolation but are part of an intertwined global system where all countries depend on each other (both an economic & political theory). Countries fit into three categories - core, semi-periphery, or periphery
World's System Theory (Wallerstein's Model)