Unit 5
Columbian Exchange
The exchange of plants, animals, diseases, and technologies between the Americas and the rest of the world following Columbus's voyages.
Infant Mortality Rates
The number of deaths per year of infants less than one year old for every 1000 live births
World Trade Organization
a permanent global institution to promote international trade and to settle international trade disputes
Cash Crop
A crop that is unnecessary for survival, but can be sold for a large profit.
Colonialism
An attempt by one country to establish settlements and impose its political, economic, and cultural principles in another territory
Outsourcing
obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.
Dispersed rural settlement
A rural settlement pattern characterized by isolated farms rather than clustered villages.
Megacity
urban areas (a.k.a the metro area) with MORE than 10 million people (currently 33)
Post-Fordist Production
Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.
Commodity Chain
A series of links connecting the many places of production and distribution, resulting in a finished commodity that is on the market.
Human Development Index
A composite statistic of life expectancy, education, and income indices used to rank countries into four tiers of human development.
Free Trade Zones
designated areas where foreign companies can warehouse goods without paying taxes or customs duties until they move the goods into the marketplace
Hearths of agriculture
Southeast Asia (Indus River Valley, Middle East (Fertile Crescent), and Central America (Mesoamerica)
Periphery
Processes that incorporate lower levels of education, lower salaries, and less technology; and generate less wealth than core processes in the world-economy
Rostow's Stages of Development
A model of economic development that describes a country's progression which occurs in five stages transforming them from least-developed to most-developed countries.