Economic sectors
Jobs involving the extraction of raw materials
What is the primary sector?
A factory that assembles products that gain weight during production is this type of industry.
What is bulk-gaining industry?
What is Wallerstein's World Systems Theory?
This indicator measures life expectancy, education, and income
What is Human Development Index (HDI)?
This term describes the shift of jobs from industrial production to service/information work in developed countries.
What is deindustrialization?
This sector processes raw materials into finished goods.
What is the secondary sector?
Goods are transferred from ship to rail at this type of location.
What is break-of-bulk point?
This theory minimizes transportation, labor and agglomeration costs when placing an industry.
What is Weber's Least Cost Theory?
This indicator shows the total income of a country's residents including income from abroad.
What is Gross National Income (GNI)?
This global organization deals with international trade rules and reduces barriers to trade between countries.
What is World Trade Organization (WTO)?
This sector involves professions like teachers, retailers, and healthcare providers.
What is the tertiary sector?
These are government policies that prohibit union membership as a job condition. This weakens collective bargaining.
What are right-to-work laws?
This is a key criticism of Rostow's model.
What is its assumption that all countries follow the same linear path?
What is inequality in wealth or limited access to education/healthcare?
A country with a large maquiladora industry is most likely in this REGION which facilitates production for export. (BE SPECIFIC w direction)
What is the northern part of Mexico?
This sector includes decision-making roles and top-level executives.
What is the quinary sector?
This type of zone, found in developing countries, offer tax incentives and fewer labor regulations to attract foreign investment and offshoring, often at the expense of worker protection.
What is a Special Economic Zone (SEZ)?
A country with large-scale agricultural exports and low-wage manufacturing is playing what role in the global economy according to Wallerstein?
What is periphery?
Country A has a high GNI but low access to healthcare/education. Country B has low GNI but better healthcare/education. What country has a higher HDI and why?
What is Country B because HDI considers education and life expectancy as well as income?
This strategy reduces debt by cutting government spending and increasing taxes, often causing economic hardship in developing countries.
What is an austerity strategy?
This is the purpose of the quaternary sector.
What are knowledge-based activities like research, technology, and data processing?
This describes the shift of production to lower-cost regions worldwide, leads to job losses in MDCs and industrial growth in LDCs
What is global economic restructuring?
These are the five stages in Walt Rostow's model of economic growth, outlines how societies turn from subsistence-based economies to modern nations.
What are Traditional, Preconditions, Takeoff, Drive, and Age of Mass Consumption?
A country has a higher GNI than GDP. What does this reveal about the rold of its citizens?
What is that many citizens earn income abroad, boosting income beyond what is produced domestically?
This term describes the practice of reducing a country's debt by changing loan terms through international institutions.
What is a Structural Adjustment Program?