Question 1

Agglomeration diseconomies

Accepted Answer

the negative economic effects of urbanization & the local concentration of industry.

Question 2

Autarky

Accepted Answer

insignificant contributions to the flows of imports & exports that constitute the geography of trade.

Question 3

Backwash effects

Accepted Answer

the negative impacts on a region (or regions) of the economic growth of some other region.

Question 4

Carrying capacity

Accepted Answer

the maximum number of users that can be sustained, over the long term, by a given set of natural resources.

Question 5

Conglomerate corporations

Accepted Answer

companies that have diversified into various economic activities, usually through a process of mergers & acquisitions.

Question 6

Creative destruction

Accepted Answer

the withdrawal of investments from activities ( and regions) that yield low rates of profit in order to reinvest in new activities (and new places).

Question 7

Cumulative causation

Accepted Answer

a spiral buildup of advantages that occurs in specific geographic settings as a result of the development of external economies, agglomeration effects, & localization economies.

Question 8

Debt trap

Accepted Answer

syndrome of always having to borrow in order to fund development.

Question 9

De-industrialization

Accepted Answer

a relative decline in industrial employment in core regions.

Question 10

Dependency

Accepted Answer

high level of reliance by a country on foreign enterprises, investments, or technology.

Question 11

Ecological footprint

Accepted Answer

a measure of the human pressures on the natural environment from the consumption of renewable resources & the production of pollution indicating how much space a population needs compared to what is available.

Question 12

Elasticity of demand

Accepted Answer

the degree to which levels of demand for a product or service change in response to changes in price.

Question 13

Export-processing zones (EPZs)

Accepted Answer

small areas within which especially favorable investment and trading conditions are created by governments in order to attract export-oriented industries.

Question 14

External economies

Accepted Answer

cost savings that result from circumstances beyond a firm’s own organization & methods of production.

Question 15

Flexible production systems

Accepted Answer

the ability of manufacturers to shift quickly & efficiently from one level of output  to another, or from one product configuration to another.

Question 16

Fordism

Accepted Answer

principles of mass production based on assembly-line techniques, scientific management, mass consumption based on higher wages, & sophisticated advertising techniques.

Question 17

Foreign direct investment

Accepted Answer

the total of overseas business investments made by private companies.

Question 18

Geographical path dependence

Accepted Answer

the historical relationship between the present activities associated with a place & the past experiences of the place.

Question 19

Gross domestic product (GDP)

Accepted Answer

an estimate of the total value of all materials, foodstuffs, goods, & services produced by a country in a particular year.

Question 20

Gross national income (GNI)

Accepted Answer

similar to GDP, but also includes the value of income from abroad.

Question 21

Growth poles

Accepted Answer

economic activities that are deliberately organized around one or more high-growth industries.

Question 22

Import substitution

Accepted Answer

the process by which domestic producers provide goods or services that formerly were bought from foreign producers.

Question 23

Inflation

Accepted Answer

the increase of printed currency that leads to higher prices & international financial differentials.

Question 24

Infrastructure (fixed social capital)

Accepted Answer

the underlying framework of services & amenities needed to facilitate productive activity.

Question 25

Initial advantage

Accepted Answer

the critical importance of an early start in economic development; a special case of external economies.

Question 26

International division of labor

Accepted Answer

the specialization, by countries, in particular products for export.

Question 27

Just-in-time production

Accepted Answer

manufacturing process where daily or hourly delivery schedules of materials allow for minimal or zero inventories.

Question 28

Localization economies

Accepted Answer

cost savings that accrue to particular industries as a result of clustering together at a specific location.

Question 29

Neo-Fordism

Accepted Answer

economic principles in which the logic of mass production couples with mass consumption is modified by the addition of more flexible production, distribution, & marketing systems.

Question 30

Newly industrializing countries (NICs)

Accepted Answer

countries formerly peripheral within the world system that have acquired a significant industrial sector, usually through foreign direct investment.

Question 31

Offshore financial centers

Accepted Answer

islands or microstates that have become a specialized node in the geography of worldwide financial flows.

Question 32

OECD

Accepted Answer

Organization for Economic Cooperation and Development

Question 33

Primary activities

Accepted Answer

economic activities that are concerned directly with natural resources of any kind.

Question 34

Quaternary activities

Accepted Answer

economic activities that deal with the handling & processing of knowledge and information.

Question 35

Secondary activities

Accepted Answer

economic activities that process, transform, fabricate, or assemble the raw materials derived from primary activities, or that reassemble, refinish, or package manufactured goods.

Question 36

Spread effects

Accepted Answer

the positive impacts on a region (or regions) of the economic growth of some other region.

Question 37

Strategic alliances

Accepted Answer

commercial agreements between transnational corporations, usually involving shared technologies, marketing networks, market research, or product development.

Question 38

Sustainable development

Accepted Answer

a vision of development that seeks a balance among economic growth, environmental impacts, & social equity.

Question 39

Terms of trade

Accepted Answer

the ratio of prices at which exports and imports are exchanged.

Question 40

Tertiary activities

Accepted Answer

economic activities involving the sale & exchange of goods and services.

Question 41

Trading blocs

Accepted Answer

groups of countries with formalized systems of trading agreements.

Question 42

Transnational corporations

Accepted Answer

companies with investments and activities that span international boundaries and with subsidiary companies, factories, offices or facilities in several countries.

Question 43

Vertical disintegration

Accepted Answer

the evolution from large, functionally integrated firms within a given industry toward networks of specialized firms, subcontractors, & suppliers.

Question 44

World cities

Accepted Answer

cities in which a disproportionate part of the world’s most important business is conducted.

Question

Question

Question

GEOG 1101 Chap. 7

key terms

Question	Answer
Agglomeration diseconomies	the negative economic effects of urbanization & the local concentration of industry.
Agglomeration effects
Ancillary activities
Autarky	insignificant contributions to the flows of imports & exports that constitute the geography of trade.
Backwash effects	the negative impacts on a region (or regions) of the economic growth of some other region.
Carrying capacity	the maximum number of users that can be sustained, over the long term, by a given set of natural resources.
Conglomerate corporations	companies that have diversified into various economic activities, usually through a process of mergers & acquisitions.
Creative destruction	the withdrawal of investments from activities ( and regions) that yield low rates of profit in order to reinvest in new activities (and new places).
Cumulative causation	a spiral buildup of advantages that occurs in specific geographic settings as a result of the development of external economies, agglomeration effects, & localization economies.
Debt trap	syndrome of always having to borrow in order to fund development.
De-industrialization	a relative decline in industrial employment in core regions.
Dependency	high level of reliance by a country on foreign enterprises, investments, or technology.
Ecological footprint	a measure of the human pressures on the natural environment from the consumption of renewable resources & the production of pollution indicating how much space a population needs compared to what is available.
Elasticity of demand	the degree to which levels of demand for a product or service change in response to changes in price.
Export-processing zones (EPZs)	small areas within which especially favorable investment and trading conditions are created by governments in order to attract export-oriented industries.
External economies	cost savings that result from circumstances beyond a firm’s own organization & methods of production.
Flexible production systems	the ability of manufacturers to shift quickly & efficiently from one level of output to another, or from one product configuration to another.
Fordism	principles of mass production based on assembly-line techniques, scientific management, mass consumption based on higher wages, & sophisticated advertising techniques.
Foreign direct investment	the total of overseas business investments made by private companies.
Geographical path dependence	the historical relationship between the present activities associated with a place & the past experiences of the place.
Gross domestic product (GDP)	an estimate of the total value of all materials, foodstuffs, goods, & services produced by a country in a particular year.
Gross national income (GNI)	similar to GDP, but also includes the value of income from abroad.
Growth poles	economic activities that are deliberately organized around one or more high-growth industries.
Import substitution	the process by which domestic producers provide goods or services that formerly were bought from foreign producers.
Inflation	the increase of printed currency that leads to higher prices & international financial differentials.
Infrastructure (fixed social capital)	the underlying framework of services & amenities needed to facilitate productive activity.
Initial advantage	the critical importance of an early start in economic development; a special case of external economies.
International division of labor	the specialization, by countries, in particular products for export.
Just-in-time production	manufacturing process where daily or hourly delivery schedules of materials allow for minimal or zero inventories.
Localization economies	cost savings that accrue to particular industries as a result of clustering together at a specific location.
Neo-Fordism	economic principles in which the logic of mass production couples with mass consumption is modified by the addition of more flexible production, distribution, & marketing systems.
Newly industrializing countries (NICs)	countries formerly peripheral within the world system that have acquired a significant industrial sector, usually through foreign direct investment.
Offshore financial centers	islands or microstates that have become a specialized node in the geography of worldwide financial flows.
OECD	Organization for Economic Cooperation and Development
Primary activities	economic activities that are concerned directly with natural resources of any kind.
Quaternary activities	economic activities that deal with the handling & processing of knowledge and information.
Secondary activities	economic activities that process, transform, fabricate, or assemble the raw materials derived from primary activities, or that reassemble, refinish, or package manufactured goods.
Spread effects	the positive impacts on a region (or regions) of the economic growth of some other region.
Strategic alliances	commercial agreements between transnational corporations, usually involving shared technologies, marketing networks, market research, or product development.
Sustainable development	a vision of development that seeks a balance among economic growth, environmental impacts, & social equity.
Terms of trade	the ratio of prices at which exports and imports are exchanged.
Tertiary activities	economic activities involving the sale & exchange of goods and services.
Trading blocs	groups of countries with formalized systems of trading agreements.
Transnational corporations	companies with investments and activities that span international boundaries and with subsidiary companies, factories, offices or facilities in several countries.
Vertical disintegration	the evolution from large, functionally integrated firms within a given industry toward networks of specialized firms, subcontractors, & suppliers.
World cities	cities in which a disproportionate part of the world’s most important business is conducted.

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