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Ap vocab 3

industry and development

Question	Answer
Brandt Line	a line that divides the North and the South. It shows the divide between the more developed regions and the less developed regions.
Human Development Index (HDI)	measures the status of life in any given place based on life expectancy, education levels, and income per capita.
Gross National Income (GNI)	The total value of what is produced in a country in addition to the income received from investments outside of the country and minus payment to other countries around the world.
Purchasing Power Parity (PPP)	a measure of how many units of currency are needed in one country to buy the amount of goods and services that one unit of currency will buy in another country.
Gross Domestic Product (GDP)	The value of the total output of goods and services produced in a country in a given time period (normally one year)
Primary Sector	Farming, fishing, timber, and mining, jobs that extract natural resources from the environment ex: agriculture, fishing, mining
Secondary Sector	Factory jobs or manufacturing jobs.
Tertiary Sector	The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment. ex: retail, law, healthcare, police officers
Quaternary	service sector industries concerned with the collection, processing, and manipulation of information and capital. Ex: research and development, skills and education, teachers
Quinary	the branch of a country's economy where important decisions are made by top-level executives or ceos in the government, industry, business, education, media and nonprofit organization
Productivity	the value of a particular product compared to the amount of labor needed to make it.
Pupil/Teacher Ratio	the ratio of students to teachers
Literacy Rate	the percentage of a country's people who can read and write.
Gini coefficient	a measure of statistical dispersion intended to represent the income distribution of a nation's residents, and is the most commonly used measure of inequality.
Gender Gap	difference in jobs, wages, roles, education, etc.
Gender-related Development Index (GDI)	an index designed to measure gender equality. GDI together with the Gender Empowerment Measure (GEM) were introduced in 1995 in the Human Development Report written by the United Nations Development Program.
Gender Inequality Index (GII)	A measure of the extent of each country's gender inequality.
Female Labor Force Participation Rate	The percentage of women holding full-time jobs outside of the home.
Maternal Mortality Rate	Maternal mortality refers to deaths due to complications from pregnancy or childbirth.
Adolescent Fertility Rate	The adolescent fertility rate is defined as the number of births per 1,000 women ages 15 to 19.
Rostow’s Model	summarises economic growth of countries into five different stages
Stage 1	Traditional Society, based on subsistence farming and other jobs in the primary sector, this is not for profit.
stage 2	Transitional Stage, infrastructure necessary for development is being built, transport networks are established, there is money from farming, power supplies and communications are also being formed.
stage 3	Takeoff, industrialization takes place, infrastructure improves, there is financial investment and cultural change.
stage 4	Drive to Maturity, new ideas and technologies improve and it starts to replace older industries, economic growth spreads nationwide.
stage 5	Age of Mass Consumption, people are very wealthy so there are people who are buying a lot of services and goods, this is known as a consumer society. There are fully developed welfare systems and trade expands.
International Monetary Fund-	Provides assistance to countries having financial difficulty including inability to meet international payments, extreme inflation, instability, etc.
Wallerstein’s World Systems Theory	divides countries of the world into three groups based on political power, social standing, and economic and technological development, core, semi-periphery and periphery
Complementarity Advantage	a good whose use is related to the use of an associated or paired good. Kind of like Oreos and Milk.
Comparative Advantage	the ability of a firm or individual to produce goods and/or services at a lower opportunity cost than other firms or individuals.
Microfinance (Microloans)	Provision of small loans and other financial services to individuals and small businesses in developing countries.
Ecotourism	form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way.
Weber’s Least cost model/ location theory	triangular model that emphasizes that firms seek a site of minimum transport and labor cost.
Outsourcing	A decision by a corporation to turn over much of the responsibility for production to independent suppliers. Often overseas to nations where labor costs less.
Vertical Integration	Ownership by the same firm of a number of companies that exist along a variety of points on a commodity chain.
Special Economic Zones	an area in a country that is subject to unique economic regulations that differ from other regions of the same country. The SEZ regulations tend to be conducive to foreign direct investment
Export Processing Zones	developing world. They provide incentives for foreign companies to conduct their business in developing regions. They provide benefits to the developing world in the form of foreign investments and improved employment opportunities.
Maquiladoras	Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.
Free Trade Zones	no tariffs between countries, special zones in which all trade barriers between two countries are eliminated. The FTZs usually consist of labor intensive manufacturing plants, such as the maquiladoras.
Corporate Parks	an area of land in which many office buildings are grouped together. refers to a center of high-tech manufacturing and information-based quaternary industry.
Technopole	An area planned for high technology where agglomeration built on a synergy among technological companies occurs, silicon valley is an example.
Trading Blocs	A group of neighboring countries that promote trade with each other and erect barriers to limit trade with other blocs.
Cottage Industry	industry in which the production of goods and services is based in homes (not factories)
Biomass Fuel	Fuel that derives from burnt plant material and animal waste
Bulk-reducing industry	An industry in which the final product weighs less or comprises a lower volume than the inputs, and example would be trees turning into toothpicks.
Bulk-gaining industry	An industry in which the final product weighs more or comprises a greater volume than the inputs, example is soft drinks because water is very heavy.
Break-of-bulk point	a location, such as a city or an airport, where you can transfer goods from one mode of transportation to another with minimal costs. For example, at a sea port, you can transfer goods from a train to a ship in the same place.
Just-in-time delivery	made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production, planning that what they need for longer-term production will arrive when needed.
Footloose Industry	an industry that can be placed and located at any location without effect from factors such as resources or transport.
Dependency Theory	Theory which holds that the political and economic relationships between countries and regions of the world control and limit the economic development possibilities of poorer areas.
Deindustrialization	A process by which companies move industrial jobs to other regions with cheaper labor, leaving the newly industrialized region to switch to a service economy and to work through a period of high unemployment.
European Union	an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation among its members
World Trade Organization	an organization of 188 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Mercosur	South American organization whose purpose is to expand trade, improve transportation, and reduce tariffs among member countries including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, and Uruguay.
OPEC	Organization of Petroleum Exporting Countries, its purpose is to control worldwide prices of gas.
Post-Fordist Production	Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.
Fordist Production	Form of mass production in which each worker is assigned one specific task to perform repeatedly.
Multiplier Effect	An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent.

Created by: chloe_kinirons

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