Theories
In Wallersteins Theory which stage is at the very bottom in terms of development
Periphery
What does GDP stand for?
What is the term when something gains weight after processing.
Bulk Gaining
Developed and industrialized countries with capitalist economies
First World Countries
What is a Favela?
illegal housing settlements, usually made up of temporary shelters that surround large cities.
The part of the economy that draws raw materials from the natural environment.
Primary Sector
What does MDC's and LDC's stand for
Most Developed Countries and Least developed countries
What are some positive and negative outcomes of the Industrial Revolution
Positive: Economic Growth and Technological advance.
Negative: Pollution, Poor working conditions, Social Inequalities.
What was established to protect workers and products in LDC's
Fair Trade
When an organization outsources work to an external group (typically outside the country).
Outsourcing
The theory that countries will never reach economic prosperity due to connections with external dominant powers.
What is GNP stand for.
Gross National Product
What was the industrial Revolution?
A period of time which has a significant technological and economic change and growth.
What is the increased connectivity between countries via trade, investment, and migration.
Globalization
What is the organization that negotiates, implements, and monitors international trade procedures
World Trade Organization
Which stage of rostows theory is emphasized by a growing economy new leadership and more freedom?
Stage 2 of Rostows theory
What does SEZ's Stand for and what do they do?
Special Economic Zones which is an area within a country that is subject to different and beneficial economic regulations than other areas.
Name three states that are in the rust belt:
Michigan, Ohio, Pennsylvania, Indiana, Wisconsin, Illinois, New York, West Virginia, Kentucky, Maryland, Missouri
Clumping together of industries for mutual advantage.
Agglomeration
Degradation of land, especially in semiarid areas.
Desertification
Which theory argues that industries locate where transportation costs of raw materials are minimized to maximize profits?
Webers Least Cost Theory
Name one of the purposes of the GII
to measure the loss in potential human development by reproductive health, empowerment, and labor market.
Decline of Primary and secondary industry with rise the service sectors of the industrial economy
Deindustrialization
Break of Bulk Point
What are two of the Four Asian Tigers
South Korea, Taiwan, Singapore, Hong Kong