World systems theory
One semi-periphery country
China
India
Ierland
Mexico
Panama
All are stages of Rostow's stage of Economic growth model except.
A) pre-condition for take-off
B)High mass consumption
C) late expanding
D) Traditional society
C
What is outsourcing?
Companies relocate to periphery countries where labor costs are lower.
Which economic activity are most core countries apart of?
Tertiary
Which stage lets women do more than traditional roles
Stage 2, preconditions of takeoff
What is the difference between GDP and GNP?
GDP (Gross Domestic Product) measures the total value of goods and services produced in the country in a year. GNP (Gross National Product) measures the total value of goods and services inside and outside a country in year.
What are microloans/microcredit and who are they mostly given to?
Giving loans to poor people to encourage development, they are usually given to women.
What are the four essential economic activities?
Production, distribution, consumption and exchange
What does the dependency theory say about Wallerstein's world theory
Countries cannot follow this theory because we are stuck. Rich countries depend on poor countries staying poor.
What are the precautions for take-off?
The industrial revolution, urbanization, technology mass production and better education
What are some economic measures used to assess a country's levels of development?
GDP
GNP
Name the economic activity: High technology information, higher education, services concerned with information or the exchange of money or goods.
Quaternary
Name the stage: Diffusion of technology, expanding international trade, population growth slows down.
Stage 4, drive to maturity
Name one economic measure and what it measures.
HDI measures a country's development based on life expectancy, education and per Capita income.
GNP measures the total value of goods and services produced inside and outside a country in a year.
GDP measures the total value of goods and services inside a country in a year.
GNI measures the same as GDP as well as income from foreign investments and foreign debts.
GII measures gender Inequality which includes reproductive health, empowerment differences and labor-market participation.
Explain what a country has to do/have to be classified as core, semi-periphery or periphery
Core: Higher levels of education, higher salaries, more technology, generates more wealth and exploits both semi-periphery and periphery countries
Semi-periphery: Both core and periphery process are happening, exploited by core counties but also exploits periphery countries.
Periphery: Lower levels of education, underdeveloped industry, less technology, engages in labor intensive production and are explored by core and semi-periphery countries.
Explain what Weber's least cost theory aims to say.
Industries should be situated within an area where the cost of transporting raw materials and the final product are minimal to maximize profits.