Module 53
What is the Industrial Revolution?
a period of major technological advancements and societal shifts, primarily in the late 18th and 19th centuries, that transformed economies and societies from agrarian to industrial
what is a core country?
a highly developed nation with a strong economic base, often dominant in the global capitalist system
What is the least cost theory?
suggests that industries locate where they can minimize transportation costs of raw materials and final products to maximize profits
what are some things that open more opportunities for women?
increased education and workforce participation, closing the gender pay gap, and addressing systemic biases in the workplace.
what is a custom union?
a trade agreement where participating countries eliminate tariffs and other trade barriers on goods and services among themselves, while also agreeing to adopt a common set of tariffs on imports from non-member countries
Why are raw materials so important for Industrializing?
they serve as the fundamental inputs for manufacturing finished products, fueling economic growth and technological advancements
what is a periphery country?
a nation that is less developed than both core and semi-periphery countries and often exploited for their natural resources
what is the dependency theory?
suggests that the wealth of core (rich) countries is maintained by exploiting the periphery (poor) countries, creating a cycle of dependence
How do micro loans help women in developing countries?
They give impoverished women opportunities to start businesses and get out of their situation
what is deindustrialization?
decline in industrial activity in a region or economy.
How did Geographic factors help the Industrial Revolution?
providing access to resources, facilitating transportation, and influencing population density
what is a semi periphery country?
A country that has elements of both core and Periphery countries
what is the Walter W. Rostow’s economic development model?
outlines a five-stage progression of economic development, suggesting that countries move through these stages in a linear fashion. The stages are: Traditional Society, Preconditions for Take-off, Take-off, Drive to Maturity, and High Mass Consumption.
what are the drawbacks of giving women in LDCs micro loans?
it can cause debt that they are unable to pay back
what sector rises in employment after deindustrialization?
what is Urbanization?
the process by which the population of a region becomes increasingly concentrated in towns and cities
what does the Core - Periphery model do?
Describes the uneven distribution of power, wealth, and development
what is Wallerstein world systems theory?
a framework that views the world as a single, interconnected system driven by capitalism, with countries categorized into core, semi-periphery, and periphery based on their economic and political roles
what is absolute advantage?
the principle where a country or region specializes in producing goods or services for which it has a lower opportunity cost than others
what are growth poles?
an area, usually a city, experiencing significant economic growth that then spreads to nearby regions
why do rural dwellers move to urban areas after Industrialization?
Industrialization causes them to lose their land, so they move to urban areas to find jobs.
what are the five Sectors and what do each of them do?
1) Raw materials
2) manufacturing
3) services
4) knowledge
5) an extension of the third and 4th sectors
how do you calculate the HDI?
averaging the scores of three key components: life expectancy, education, and standard of living (GNI per capita)
what are Free trade agreements?
a treaty between two or more countries that reduces or eliminates trade barriers like tariffs, quotas, and other restrictions on the movement of goods and services
what are the UN sustainable development goals?
a set of 17 interlinked goals adopted by the United Nations in 2015 to address global challenges