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Unit 7 Vocab Part 1
7.1, 7.2, 7.4
| Question | Answer |
|---|---|
| Industrial Revolution | Beginning in Britain in the 18th century, the process of change from an agrarian and handicraft economy to one dominated by industry and machine manufacturing. |
| Industrialization | The process by which an economy is transformed from a primarily agricultural one to one based on the manufacturing of goods. (Stage 2 to Stage 3) |
| Standards of Living | The degree of wealth and material comfort available to a person or community. |
| Agglomeration | Describes the advantage for companies in the same or similar industries in locating near each other in order to take advantage of specialized labor, materials, and services. |
| Primary Sector | Jobs that involve extraction of raw materials and natural resources from the earth’s surface. |
| Secondary Sector | Jobs that involve processing and manufacturing raw materials into a finished product. |
| Tertiary Sector | Service sector, jobs that focus on moving, selling, and trading products in primary and secondary sectors. |
| Quaternary Sector | Knowledge-based sector, jobs focusing on research and information creation and transfer. |
| Quinary Sector | Highest levels of decision making, jobs include top officials in government and business. |
| Break-of-Bulk Point | Locations where it is more economical to break raw materials into smaller units before shipping them farther. Usually occurs at locations where mode of transportation changes. |
| Least Cost Theory | Model that is used to analyze spatial patterns in the secondary economic sector. Says that businesses will locate their facilities in locations that minimize costs of production. |
| Core | Dominant capitalist countries that exploit peripheral countries for labor and raw materials. Have the most advanced economies, traditionally have a higher standard of living. (Ex: USA, Canada, many Western European countries) |
| Semi Periphery | Share characteristics of both core and peripheral countries. Are seeing their standard of living increase, with more industrialization happening. (Ex: Mexico, Brazil, China, India) |
| Periphery | Dependent on core countries for capital and have underdeveloped industry. Standard of living is low, most production being exported to more developed countries. (Ex: many countries in Africa and Asia) |
| Bulk-gaining Industry | Raw materials cost less to transport than finished goods. Therefore the factory will be placed close to the market. |
| Bulk-reducing Industry | Raw materials cost more to transport than finished goods. Therefore, the factory will be placed close to the source of raw materials. |
| Gender Parity | The proportionate representation of men and women in a given group. Similar to equality and equity. |
| Microloans | Very small short-term loans with low interest intended to help people in need. Good option for women in the developing world. |
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MelanieLeavitt
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