Unit 7 vocab

A composite index that measures gender-based inequalities in health, education, and economic participation (higher inequality in periphery)

A measure of the number of maternal deaths per 100,000 live births that occur due to pregnancy or childbirth-related complications.

The number of live births per 1,000 women aged 15-19 years old in a specific year

An index that is used to measure the social and economic development of a country (Determined by analyzing a country's life expectancy, expected year of schooling, and gross national income per capita)

Economic development generally increases the amount of gender equality in a society

(Women gain more roles in society as the societies advances in the DTM)

The process by which countries, economies, cultures, businesses, and people become interconnected and interdependent on one another (loss some sovereignty)

A tax or duty imposed by a government on goods and services that are imported into the country. (Protect local businesses)

A situation where a country imports more goods and services than it exports. (Occurs when a country spends more on imports than it earns on its exports)

An economic and political ideology that emphasises individual freedom over government control, free markets, and free trade.

A measure used in economics and trade to assess the compatibility between the products and services that two countries produce and trade with each other

An economic concept that refers to the ability of a country, individual, or organization to produce a good or service at a lower opportunity cost than another country. individual, or organization

When a country has more than 60% of its total export made of up of just commodities.

A theory that suggests that developing countries are dependent on developed countries for their economic growth.

A significant shift in production, employment, investment, trade patterns, or underlying economic systems and process

A movement in England which took agricultural land that was publicly owned by the community and privatised it. (Countered the tragedy of the commons and increased food production)

The process of relocating a business process or service to a foreign country. (Example: Company A moves its manufacturing centers out of the core country and into a semi-periphery country to take advantage of lower labor costs)

When a business contracts our a service or job to an external provider, in order to reduce their costs and increase their efficiency (Example: Company A outsources their bookkeeping to a professional accounting firm to take advantage of the accounting fums experts)

A concept that describes how countries utilize their comparative advantage to specialize in difference economic activities, resources, and capabilities

Small loans provided to individuals or small businesses who are typically excluded from traditional banking services.

A category of financial services that are for individuals and small businesses who lack access to traditional banking services. (Often includes access to saving account, insurance, or money transfer services)

A phenomenon where an original investment by an individual, business, government, or organization leads to a chain reaction of spending and increased economic activity.

A system of production that emphasizes mass production of standard goods

A system of production that emphasizes more flexible production methods where workers are trained in multiple tasks and produce custom goods.

A production and inventory control system where products and materials are delivered to the manufacturing plant precisely when they are needed in the production process.

Clustering of different economic activities and industries in a specific geographic area.

an area where new businesses start up and or businesses locate to participate in the emerging market and or attract investment for a new product and service. Ex. Scillcon valley.

The decline of industrial production and manufacturing in an economy or region.

A form of tourism that focuses on responsible travel to natural areas that conserve the environment and improve the well-being of the local people.

Small-scale business, typically operated out of a person's home (Individuals typically use traditional techniques and tools to produce custom goods by hand)

Products that have been processed in a way that increases their overall value (Final product can be sold for a higher price than the original raw materials used to make it)

The funds or resources that a company or individual put into an activity, project, or business with the expectation of generating future profits. (New investment opportunities, new economic opportunity for people in periphery / semiperiphery)

A location where goods are transferred from one mode of transportation to another

Countries with the most advanced economies and highest standard of living.

Countries that have emerging economies that are industrializing

Countries that still rely heavily on the exportation of raw resources to more economically developed countries.

The total value of all goods and services produced within a country's borders over a specific period of time

The total economic output produced by a country's residents and businesses, regardless of their location, during a specific period of time.

The total amount of income generated by a country's residents and businesses, both domestically and abroad, in a given year

The amount of land and resources that are used to support the population of a city. (Thee larger = likely to put strain on natural resources, contribute more to greenhouse gas emissions)

Refers to the depletion or exhaustion of natural resources as a result of unsustainable practice and excessive consumption.

Refers to the deterioration or decline in quality of natural resources or ecosystem due to human activities.

The warning away and displacement of the upper layer of soil due to human activities, water, wind, or other natural forces.

The process by which arable land loses its fertility and becomes a desert.

the process of salt accumulating in the soil making it difficult for crops and plants to grow.

The process of clearing a wide geographic area of trees and other vegetation.