The Industrial Revolution
The Industrial Revolution is traditionally said to have begun in this country in the late 18th century.
What is England?
This sector of the economy includes activities that deal directly with natural raw materials such as farming, mining, and logging.
What is the Primary Sector?
Used to measure how well each individual in a certain area is doing, this term means "per person."
What is "Per Capita?"
This theory states that all countries develop along the same path, outlined with specific steps.
What are Rostow's Stages of Growth?
This economic system, characterized by private ownership and investment in industry, provided the financial means for industrial growth.
Capitalism
As a country develops, its service economy increases. This sector of the economy includes service-related industries.
What is the Tertiary Sector?
This term is a calculation of the total value of officially recorded goods and services produced in a country in a given year.
What is Gross Domestic Product (GDP)?
This theory states that countries do not develop in a vacuum, and links development with outside exploitation by more developed countries at the expense of less developed ones.
What is Wallerstein's World Systems Theory/Core-Periphery Theory?
When industrialized countries sought raw materials outside their own borders, they often established these overseas.
What are colonies?
This term describes the tendency of businesses in the same industry to cluster together in the same geographic area.
What is agglomeration?
Average per capita income is higher in More Developed Countries (MDCs) because more people work in this sector of the economy.
What is the Tertiary/Service Sector?
This theory states that periphery countries are purposely kept from developing by core countries who exploit them for cheap labor and raw materials.
What is Dependency Theory?
Decrease is farm workers, increase in agricultural machinery, increased food output, decrease in subsistence farming.
agricultural effects of the industrial revolution.
This economic theory states that manufacturing plants will locate where costs are the least.
What is Weber's Least Cost Theory?
This metric measures the distribution of income within a population and can be used to examine income inequality.
What is the Gini coefficient?
This term describes when more than 60% of a country's exports are made up of raw materials.
What is Commodity Dependence?
Increased life expectancy, increased birth rate, urbanization, decline is death rate.
Population effect of the industrial revolution.
According to Least Cost Theory, this type of industry would want to locate closer to the market because its product costs more once it is manufactured.
What is Bulk-Gaining Industry?
Made up of a combination of factors, this measures the degree of women's equality within a population.
What is the Gender Inequality Index?
This is the term for the belief that open markets, free trade, and minimal government regulation will lead to economic prosperity for everyone.
What is Neoliberalism?