Industrial Rev
What was the "Industrial Revolution"?
A period of rapid economic and technological change that began in the late 18th century and spread throughout Europe, America and most of the world resulting in mass production of cheaper goods.
Economic policies that promote free market principles, such as deregulation, free trade, and privatization.
What is ...neoliberal policies.
What economic sector?
Automotive, manufacturing, food processing.
What is ...Secondary (2) economic sector
GNI or Gross National Income measures what?
All income generated by a country's people regardless of where it was earning in the world. Seen as an alternative to GDP.
What are terminal costs?
The costs of handling your goods to move them to a new mode of transport.
Terminal = end of a line of transport.
EV manufacturing in Georgia is an example from the Sun Belt of specific industries increasing wages, housing, and the local economy. This is called a...
Growth Pole
These made international shipping much easier, faster, and cheaper leading to more globalization and trade since the 1950s.
Shipping containers.
What is a "Break - of - Bulk Point"? Provide one example.
a location where the cargo switches from one mode of transportation to another. These are usually ports or airports.
What type of advantage?
Outsourcing of iphone factories to China where labor and manufacturing is cheaper than if iphones were produced in the US
What is ...Comparative Advantage
This sector includes important organization structures such as government organizations, public services, healthcare, and other decision making jobs for lots of people.
What is...Quinary (5) economic sector
_____ , _____ and _____ are indicators of the human development index.
What is ... Life expectancy at birth, Expected years of schooling/mean years of schooling, GNI per capita.
What are line costs?
Mode of transportation costs (ship, rail, truck, air.)
Schenzen, China has an agglomeration of services related to technology, particularly iphones. This area is known for its large workforce and essential services, known as a SEZ or
Special Economic Zone
Car manufacturing is usually done close to the market/buyers. Why?
It is a bulk-gaining industry
The UK
Functions as an area with cheaper labor and less business restrictions in Mexico that pairs with a parent company in the USA. This was before NAFTA/USMCA...
What is ... a Maquiladora
Wallerstein's World Systems Theory says that Core countries benefit from Periphery countries who are dependent upon them. Many argue this directly descends from what historical connection?
What is colonialism?
Commodity dependence occurs when ____ % of a country's exports are commodities.
What is ...60% of a country's exports are commodities.
What are some SITE factors that Location Theory considers? (3 answers 300 pts each.
Land, Labor, Capital.
Low-level tasks (call centers & textiles) are sent overseas where labor is cheap through contractors
Outsourcing
What measure does the UN use to track reproductive health, empowerment and the labor market access between men and women?
Gender Inequality Index
What are the SITUATION factors that are important for Location Theory?
Access to transportation. Proximity to markets.
The goal of this is to minimizes storage & inventory costs
Just-In-Time Delivery
Which of these levels of economic activity is concerned with the generation and sharing of knowledge and research?
What is ...Quaternary (4) economic sector
Name that theory stage...
Economic growth becomes self-sustaining. Huge technological advancement, development of the domestic manufacturing sector.
What is Takeoff/Stage 3 of Rostow’s Model
Paper is usually produced close to forests and timberland. Why?
Economic restructuring in Vietnam to allow for more economic freedom.
Doi Moi
These outline economic development goals LDCs must meet before receiving loans from the IMF and World Bank.
Structural Adjustment Programs
Describe the goal of Alfred Weber’s Least Cost Theory.
attempts to describe and predict the location of manufacturing industries based. Where to build a factory.
The US, MEX, CAN used to be in a free-trade relationship called NAFTA (North American Free Trade Agreement) that removed all ______ .
What is ...tariffs
Alfred Weber’s Least Cost Theory
Model of industrial location emphasizes the owner’s desire to _______ costs and create an _________ of services
What is ...minimize, agglomeration
This theory of development IGNORED the impact of colonialism on both MDCs and LDCs
Rostow's Theory of Modernization
What three variables/factors did Weber base his Least Cost Theory on? (3 answers 500 pts each)
Factory owners try to minimize transportation costs,\ & labor costs, while MAXIMIZING economies of agglomeration (clustering with similar, interdependent businesses)
Describe the multiplier effect
Basic jobs lead to the creation of non-basic jobs.
The higher the salary of a job the more jobs will be created in a place
What are the limitations of per capita measures of development?
Per capita measures can hide gender, racial, economic, and other inequalities.