Wood Unit 6 Vocab

Acid Rain
By-product of air pollution; forms when sulfur dioxide nd nitrogen oxides are released into the atmosphere by burning fossil fuels
Act of collecting in a mass
Transfer of cargo from one type of carrier to another
Bulk Reducing Industries
When raw materials are heavier and bulkier than the finished products
Bulk Gaining Industries
When the finished products are heavier than the raw materials
Capitalist World Economy
A global economic stsyem that is based in high-income nations with market economies
Compressed Modernity
Rapid economic and political change that transformed the country into a stable nation with democratizing political institutions, a growing economy, and an expanding ofweb nongovernmental institutions
Conglomerate Corporations
Companies that have diversified into various economiv activities usually through a process of mergers and acquisitions
Exodus of businesses from a crowded area
When manufacturing as a share of total employment has fallen dramatically in the MDCs
Dependency Theory
That economic development of many countries in the world is blocked by the fact that industrialized nations exploit them
Distance Decay
The diminishing in importance and eventual disappearance of a phenomenon with increasing distance from its origin
Economic Development
Process of improving the material conditions of people through diffusion of knowledge and technology, has occurred as a result of industrialization
Economic Geography
A discipline that studies the impact of economic activities on the landscape and investigates reasons behind the locations of economic activities
Export-Oriented Industrialization
To directly integrate economies into the global economy by concentrating on economic production to find a place in international markets
Footloose Industry
When neither resource or market-oriented
Friction of Distance
The increase in time and cost that usually comes with increasing distance
Fossil Fuels
Residues of plants and animals that were buried millions of years ago, including coal, petroleum, and natural gas
Global Warming
Increase in earth’s temperature causd primarily by the burning of fossil fuels
Gross Domestic Product (GDP)
Value of the total output of goods and services produced in a country during a year
Gross Domestic Product Per Capita
Dividing the GDP by total population; measure of the average person’s contribution to generating a country’s wealth in a year
Greenhouse Effect
Warming that results when solar radiation is trapped by the atmosphere
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 consumptions
Industrial Revolution
The transformation from an agricultural to an industrial nation
Services that support economic activities
International Division of Labor
Some components of products are made in one country and others in another
Kanto Plain
Japans dominant region of industrialization, which includes Tokyo
Labor Intensive Industries
An industry for when labor costs comprises a high percentage of total expenses
Locational Interdependence Theory
The influence on a firm’s locational decision by locations chosen by its competitors
Maquiladora District
Produces goods primarily for consumers in the U.s
Meiji Restoration
A remarkable government-sponsered campaign for modernization and colonization
Modernization Model
Identifies tradition as the greatest barrier to economic development
More Developed Countries
Those that have experienced industrialization
Less Developed Countries
Not experienced in industrialization
North American Free Trade Agreement; It eliminated barriers to free trade among the three countries of Mexico, United States, and Canada
New International Division Of Labor
Process that keeps global inequalities in place
Newly Industrializing Country
Countries that are newly industrialized
Northeast District (China)
Manchuria, created on the region’s coal and iron deposits near the city of Shenyang
Oligarchs (Japan)
Industrial and military leaders that came to political power
Pacific Rim
Countries that border the Pacific Ocean on their eastern shores
Post-Industrial Societies
Countries where most people are no longer employed in industry
Primary Economic Activities, Primary Sector
Drawing raw materials from the natural environment
Primary Industry, Secondary Industry
Develops around raw materials; Transforms raw materials into manufactured goods
Provern Reserve
Energy deposits that have been discovered
Potential Reserve
Energy deposits that have not been discovered
Quaternary Sector
Includes service jobs concerned with research and development, management and administration, and processing and disseminating information
Rostow, W.W, Rostow’s Stages
Noted for a belief in the efficacy of capitalism and free enterprise; 5 stages- 1) Traditional- farming, 2) Preconditions for Takeoff- commercial exploitations of materials, 3) Take off- massive investment and produce goods for manufacturing, 4) Drive to Maturity- wealth goes up, 5) Age of Mass Consumption
Second Economic Activities, Secondary Sector
Turning raw materials into manufactured goods
Secondary Industrial Region
Where agglomeration is somewhat less, but still significant. Ex: Nigeria, Brazil, Argentina, Venezuala, South Africa
Single-Market Manufacturers
Maufacturers that produce goods for one type of market
Site Factors
Particular to a geographic location and focus on varying of land, labor, and capital
Social Development
Development of literacy, formal education and good healthcare
Space-Time Compression
Describes the reduction in the time it takes to diffuse something to a distant place as a result of improved communications and transportation systems
Special Economic Zones
Government designated areas where foreign investments is allowed and capitalistic ventures are encouraged
Substitution Principle
Suggests that business owners can juggle expenses, as long as labor, land rents, transportation, and other costs don’t all go up at one time
Sustainable Development
Developing that meets the needs of the present withouth compromising the ability of future generations to meet their own needs
Tertiary Sector
Parts of economy that involves services rather than goods
Trading Blocs
Conglomerations of trade among countries within a region
Transnational Corporations
Transnational Corporations
Companies that operate factories in countries other than the ones in which they are headquartered
Value Added Productivity
Extra money added to a product for laboring cost
Variable Revenue Analysis
The firm’s ability to capture a market that will earn it more customers and money than its competitors
Wallerstein, Emanuel
First explained economic development in 1974 using model of the capitalist world economy
Watt, James
(1736-1819) Improved upon Newcomen’s Steam Engine. Watt’s Steam Engine would be the power source of the Industrial Revolution
Weber, Alfred
Creator of the model that states that the optimum location of a manufacturing firm is explained in terms of cost minimization

Leave a Reply

Your email address will not be published. Required fields are marked *