Weber's Least Cost Theory
The movement of goods using either highway (Truck), rail (Train), air (Airplane), pipeline, or water (Ships).
Transportation
Total value of the goods and services produced by a country in a year.
Goods are made both inside and outside the country itself.
GNP (Gross National Product)
Subsistence Farming, Rigid social structure, slow to change technology.
Stage 1 (Traditional Society)
An industry in which the final product weighs more than the raw materials.
Weight-Gaining Industry
Total value of the goods and services produced INSIDE a country in a year.
GDP (Gross Domestic Product)
Stage 3 (Takeoff)
An industry in which the final product has less space than the raw materials.
Bulk-Reducing Industry
Measures reproductive health, indices of empowerment, and labor-market participation.
GII (Gender Inequality Index)
Diffusion of Technology, Industrial Specialization, Expanding international trade, population growth slows.
Stage 4 (Drive to maturity)
An industry in which the final product weighs less than the raw materials.
Weight-Reducing Industry
A measure to show spatial variation among states in levels of development.
HDI (Human Development Index)
New Leadership, greater flexibility, Openness, and Diversification.
Stage 2 (Preconditions of Takeoff)
An industry in which the final product has more space than the raw materials.
Bulk-Gaining Industry
Cons of GNP, GDP, GNI
- Indicates little about the distribution of wealth
- Likely does not give an accurate view of the average person's life
- Leaves out black market, drug trade, and garden plot incomes
- Includes only formal economy transactions
Rostow's model is also known as...
"Ladder of Development"