Unit 7

any economic activity using machinery on a large scale to process raw materials into products

any metals, wood or other plant products, animal products, or other substances that are used to make intermediate or finished goods

the process in which the interaction of social and economic factors causes the development of industries on a wide scale

The change in manufacturing methods from small-scale, hand-crafted, muscle-powered production, to power-driven mass production

High quality craft goods were made in isolated, independent, small scale operations.

A form of manufacturing in which members of families spread out through rural areas and worked in their homes to make goods.

The Industrial Revolution began in the 18th century in Britan, partially due to their access to natural resources.

Textiles

It allowed for machines to produce massive amounts of a product. It also allowed iron workers to generate more heat, creating new ways to fashion iron.

Relocation: The British textile manufacturer moved to the US in 1789, and his technology became the 1st center of industrial production in the US

Where there was coal, industrialization was able to happen faster. Coal was the basis of the revolution, so the countries that had access to it industrialized

When: 18th century

Powered By: Coal, Steam, and waterpower

Industries: Textiles, iron, and coal

Key Innovations: Spinning jenny, water frame, power loom, steam engine

When: Late 19th century

Powered By: Electricity and internal combustion engine

Industries: Steel, automobiles, airplane, chemical, and consumer appliance

Key Innovations: Assembly line and machine tools

When: After WWII (1945ish)

Powered By: Advances in computerization and miniaturization

Industries: Computer manufacturing, software engineering, telecommunications, banking, and insurance

Key Innovations: Computer changes

There was a rise in the amount of factories, which gave more people jobs. This lead to wealth being a marker of class.

The growth of robotics, information, and biomedical industries.

Collections of industries engaged in similar economic activities based on the creation of raw materials, the production of goods the provision of services or other activities

Jobs consisting of extracting, processing, producing an packaging raw materials and basic foods from the Earth.

Manufacturing, processing, and constructing finished goods by transforming raw materials

Services for the general population and businesses to acquire and use finished goods

Knowledge and skills for complex processing and handling of information and environmental technology

High-level economic and social decision making through responsible institutions

Industrialization provides a city with more jobs, firstly typically working in factories. This causes more people to come to the cities for stable jobs, causing urbanization.

An economic pattern marked by predominant tertiary sector employment with a good share of quaternary and quinary jobs

Primary: Very low employment, many farmers moved to cities

Secondary: relatively low employment, workers must learn new skills in other fields

Tertiary: predominant employment

Quaternary: rising amount of jobs available

Quinary: rising amount of jobs available

Women get more advanced educations and make up more of the workforce; AI and IT have developed.

The total value of all goods and services produced by a country’s citizens within the country in a year

Economies with two distinct distributions of economic activity across the economic sectors (ex. Brazil)

There are multiple theories some of which are resistance is due to tradition or agricultural workers don’t see enough benefit to moving to the secondary sector

A theory suggesting that business locate their facilities in a particular place because that location minimizes production cost.

Transportation, Labor, and Agglomeration

The tendency of enterprises in the same industry to cluster in the same area

A place where goods are transferred from one kind of transport to another

Ignore political or economic systemic influence; There are fixed amount of raw materials; workers who make up a labor force won’t move; There is a uniform transportation cost.

An industry where the raw material weighs more then the finished good

An industry where the raw material weighs less than the finished good

Ignores political and economic influence; only works in capitalism systems; market is not located at a singular point

Use of airplanes, ships, and supertankers; Use of shipping containers; Higher labor cost; Many goods weigh less

A collection of manufacturing facilities in a particular area

The process involved in the improvement of people’s freedoms, rights, capabilities, choices, and material conditions

The total value of the goods and services produced by a country’s citizens within the country in a year

Per capita, the total value of goods and services globally produced by a country in a year divided by the country’s population

Businesses, enterprises, and other economic activities that have government supervision, monitoring, and protection, and are taxed

Any part of a country’s economy that is outside government monitoring or regulation, sometimes called the informal economy

A measurement of LE at birth, education access, and GNI per capita to indicate level of development

LE at Birth - health dimension

Access to education, measured in years of schooling - education dimension

GNI per capita - economic dimension

Doesn’t reflect poverty, gender equality, environmental quality or sustainability; Doesn’t take into account lack of equal access to income, education, and healthcare; doesn’t consider political aspects

A balance between the genders

When everyone has the same level of resources and opportunities for everyone, regardless of gender

The acknowledgment of how the lack of access to opportunities and resources affects people of different genders.

A measure that calculates gender disparity taking knowledge and standard of living into account

A measure that calculates inequality based on reproductive health, empowerment, and labor market participation

A very small short-term loan with low interest indented to help people in need

Ensure that financial assets are in the hands of women; Keep girls in school; Improve reproductive health and access to family planning; Support women’s leadership

A model that suggests that all countries can be categorized on a spectrum from traditional to modern and to become modern, countries need to pass through defined stags of economic growth

A theory that explains the development challenges poorer countries face, it also explains the political and economic relationships between richer and poorer countries

When a country’s economy is reliant in the export of 1 or 2 resources

The ability to produce a good or service at a lower cost than others

When a country has the income, goods or services that another country desires

the belief that open markets and free trade across the globe will lead to economic development everywhere and also result in less political conflict or more democracy

laws that encourage trade

Policies can either encourage or discourage trade. Tariffs can be put in place to decrease dependent on foreign goods or to influence another country

A group of countries that agree to acommon set trade rules

International financial institution - assists struggling countries with financing and provide professional development advice

An IFI with 190 member states that aids countries in need of financial assistance and promotes economic stability and provides loans.

contracting work to non company employees or other companies

Businesses that operate in multiple countries