HUGS U7

the process of using machines and large-scale processes to convert raw materials into manufactured goods

the basic substances such as minerals and crops needed to manufacture finished goods

a place where products are sold

small home-based businesses that made goods

a series of technological advances

led to more complex machinery driven by water or steam power that could make products faster and at lower costs

a belt of significant workforces along coasts or rivers which provided easy transportation to global markets

a process of decreasing reliance on manufacturing jobs

regions that have large numbers of closed factories

extracts natural resources from the earth

EX: farming

makes products from natural resources

EX: manufacturing

provides information and services to people

EX: Retail sales

manages and processing information

EX: Software development

creates information and makes high level decisions

EX: Research

the potential of a job to produce additional jobs

explain the key decisions made by businesses about where to locate factories

Three points that include : a market for a good and two resources needed to make the good

weight-losing, raw material oriented industries

EX: copper production

weight-gaining, market-oriented, or market-dependent industries

highly dependent on a workforce and will want to be near a source of those workers

the procedure of transferring cargo from one mode of transportation to another

the system in which goods are loaded into a standardized shipping unit

meaning they can be carried on a truck, train, ship, or plane

the ability to pack up and leave for a new location quickly and easily

corporation main offices for its top executives on the expensive upper floors of a skyscraper in a large city

offices for the rest of its employees in less expensive office spaces

The dollar amount of all goods and services produced by a country's citizens in one year

The dollar amount of all final goods and services produced within a country in one year

the profits from a foreign-owned company were leaving the country and going back to the home country

the amount of output per person

a measure of what similar goods cost in different countries

the portion of the economy that is monitored by government

the portion of the economy that is not monitored by government

A measure of the distribution of income within a population

ranged 0 to 1

the number of years a person is expected to live

the percentage of population that can read and write

Differences in the privileges afforded to males and females in a society

a composite measure of several factors indicating gender disparity

one economic measure + 3 social measures

(GNI per Capita + life expectancy, expected years of schooling, and average years of schooling)

programs enacted by governments and international non-profit agencies

usually helps empower women to find jobs outside the home

microfinance programs that provide loans often to women to start or expand a business

he believed all countries wanted to modernize

Stages

• traditional society

• preconditions for take-off

• take-off

• drive to maturity

• high mass consumption

dependency model

states that countries do not exist in isolation but are part of an intertwined world system in which all countries are dependent on each other

(core, semiperiphery, and periphery)

raw materials such as coffee, cocoa, and oil, that have not undergone any processing

when more than 60 percent of a country’s exports are raw materials

occurs when one party desires a good or service that it does not have but another does

a system of exchange in which no money changes hands

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

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

laws that reduce barriers to trade.

a set of reforms that reduced government regulations and taxation

groups of countries that agree to a common set of trade rules

an example of a trading bloc

“southern common market”

includes several south American countries

a global organization made to monitor the rules of international trade by negotiating trade deals, settling disputes, and supporting the needs of developing countries

created to aid countries caught in need of financial assistance

contracting work to noncompany employees or other companies

Companies will locate services or manufacturing in other countries if the costs of doing business are lower and worth the risk of moving some operations overseas

returning jobs to the business’s home country

a changed system of employment in the various economic sectors throughout the world

Actions that create new wealth for a region

actions that don’t generate new money for the area

EX: a grocery store

Businesses that operate in multiple countries

special manufacturing zones

offers foreign corporations major tax savings, inexpensive labor, and fewer environmental regulations…

special manufacturing zones in China

used to attract foreign trade and businesses

situated near major ports

special manufacturing zones in Mexico

second largest source of income

special manufacturing zones in singapore

where a foreign company can store, warehouse, transfer, or process without additional taxation or duties

an economy that that no longer employs large numbers of people in factories but has people who provide services and process information

when an item is moved from worker to worker, with each repeatedly performing the same task

highly specialized and organized mass production at a single site that usually has less-skilled workers

when businesses maximize profit by substituting one factor of production for another

when workers are often trained to do more than one job, so they can rotate among a few different workstations during a day, reducing the risk of injuries

a system in which the inputs in the assembly process arrive at the assembly location when they are needed

the location decision for one factory is dependent upon the location of other related factories

the grouping together of many firms from the same industry in a single area to share resources and increase customers

a hub for information-based industry and high-tech manufacturing

a specific area or sector that drives economic development in a region

positive economic outcomes beyond the growth pole

negative effects on one region that result from economic growth in another region

sites of abandoned factories

the northeast and lands around the great lakes

region hit hardest by deindustrialization in US

the area where buildings congregate to take advantage of agglomeration economies

Using the earth's resources without doing permanent damage to the environment

made to address problems caused by depletion of natural resources, mass consumption of goods, pollution of air and water, and the impact of climate change

a person’s impact on the environment

travel to a region by people who are interested in its distinctive and unusual ecosystem

intended to finish the job that the MDGs has begun, but with more awareness of environmental challenges and ways to overcome them