Vocab
What is the process by which economic activities on the Earth's surface evolved from producing basic primary goods to using factories for mass-producing goods for consumption.
Industrialization
What measures the value of the total output of goods and services produced in a country in a year, not accounting for money that leaves and enters the country.
Gross Domestic Product (GDP)
Which stage in Rostow's theory has a rigid social structure and is in LDCs?
Stage 1
What would the economic activities of a country that has more service industries and focuses on the market be categorized in?
Tertiary
What are regions within a country's borders that offer special economic regulations and incentives to promote the production of goods and services for export?
Economic Processing Zones (EPZ)
A sustainable type of tourism with a focus on the enjoyment of nature
Ecotourism
What does the UN use to measure the Gender Inequality Index? (what do they measure to determine the GII?)
Reproductive Health, Empowerment, and the Labor Market
What is the theory that demonstrates how costs of transportation are changed based on location?
Weber's least cost theory
If a country is experiencing economic activities such as agriculture and ranching, what category would this country be in?
Primary
What mode of transportation usually holds shipping containers?
Ships
What is it called when a business contracts out a service or job to an external provider in order to reduce their costs and increase their efficiency.
Outsourcing
What is the total amount of income generated by a country's residents and businesses
GNI(Gross National Income)
Which Rostow stage has industrial revolutions and technological advancements?
Stage 3
Identify a characteristic of a secondary sector of the economic sectors.
Manufacturing or processing
What is the loss of industrial activity in one region, usually because of relocation to developing countries with cheaper labor and low economic standards.
Deindustrialization
Is a product that becomes lighter and easier to transport as production occurs Bulk Reducing or Bulk Gaining
Bulk Reducing
What does HDI stand for and what does it measure?
Human Development Index and it measures the social ad economic development of a country.
What is the name of the theory that contradicts Rostow's theory?
The Dependency Theory
Identify 3 services that appear in the tertiary sector.
Lawyers, doctors, nurses, teachers, sales people
What is one company that uses sustainable development polocies?
Patagonia and Ikea
An economy with a cluster of companies and industries to benefit from costs
Agglomeration
What is the difference between GNP and GNI
GNP is Gross National Product and it measures the total economic output produced by a country's residents and businesses regardless of their location during a specific period of time. GNI is Gross National Income and measures the total amount of income generated a country's residents and businesses, both domestically and abroad, in a given year.
Thailand, Brazil, South Africa, and Portugal are what type of countries in Wallersteins world systems theory?
Semi-periphery
Country A's economy relies on manufacturing raw materials from other countries, and sells the manufactured goods to countries whose main economy relies on jobs and services. What economic sector is this?
Secondary sector
What does NAFTA Stand for and what is its purpose?
North American Free Trade Agreement. To eliminate tariffs and other barriers to trade and investment between the three countries.