AP Human Geography: Unit 7 ~ Industrial and Economic Development Patterns and Processes ~

New tech (to ship and make goods), demand for goods, capital (money from investors given to business), labor surplus (farmers not needed due to new tech)

18th century Britain

Began in England (1733), England and parts of France (1826), then France and American, spreads out from there (East Asia)

increased production and efficiency, lower prices, more goods, improved wages, and rural to urban migration

Primary, Secondary, Tertiary, Quaternary, and Quinary

anything that has to do with harvesting or extracting raw materials (ex: farming, fishing, mining, etc.)

industries involved in transforming raw materials into finished products (ex: making a desirable product in a factory)

anything that has to do with the sale or exchange of goods (ex: waiter, cashiers, etc.)

activities that involve the creation and distribution of knowledge and information (ex: jobs that deal with other peoples money)

decision making and policy making and other sectors of economy (ex: jobs with high levels of administration)

a location where the transfer of goods from one mode of transportation to another takes place

all major corporations make decisions about where to have their production and manufacturing facilities based on the least possible combination of costs, so as to get the greatest profit

make products that weigh more after assembly than before assembly (ex: automobiles, coca cola, etc.)

make products that weigh less after assembly than before assembly (ex: copper concentration and steel making)

locates it’s manufacturing centers close to them market (cost to make it < transportation to market)

An industry for which labor costs comprise a high percent of total expenses

the concept that corporations can draw from labor markets around the world. This is made possible by innovations in transportation and communication systems that compress time and space. 

grouping together of many firms from the same industry in a single area for a collective or cooperative use of infrastructure and sharing of labor resources

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

a method of managing inventory that provides products only as they are needed, rather than storing them

process of moving Industrial production or service industries to external facilities or organizations often out of the country

export-processing cities in northern Mexico, near the U.S. border, that are owned by foreign corporations.

a shift in the way goods are produced characterized by a move away from mass production and towards more flexible, customized production methods

how many times money spent circulates through a country’s economy

the reduction in there per unit cost of production as the volume of production increases

the total value of goods and services produced within the borders of a country during a specific time period (usually annually)

a metric used to measure a country's economic output, and is the total value of all products and services produced by a country's citizens in a year, including those generated from its investments abroad.

the total monetary value, in U.S. dollars, of all the goods, services, and investments produced by a country in a year

measures the status of life in any given place based on life expectancy, education levels, and income per capita

measures gender inequalities in achievement in 3 basic dimensions of human development, health, female and male life expectancy at birth and how many years of education

a composite metric of gender inequality using 3 dimensions, reproductive health, empowerment, and labor market

1. traditional society 2. Pre conditions for take off 3.Take off 4. Drive to maturity 5. High mass consumption

divides countries of the world into 3 groups based on political power, social standing, and economic and tech development

lower developed countries are highly dependant on foreign factories and tech from more developed countries to provide employment and infrastructure

explains regional inequalities by suggesting that core regions accumulate economic wealth and resources, while Periphery regions experience a lack of investment and development

actual or potential relationship between 2 places usually referring to economic interactions

the ability of an actor to produce more of a good or service than a competitor

the ability of an actor to produce a good or service for a lower opportunity cost than a competitor

goal is to increase trade among countries by reducing tariffs (NAFTA- no tariff between U.S., Canada, and Mexico)

a worldwide period of economic difficulty experienced by markets and consumers

international institution set up to maintain an order in the internal monetary system

small business loans often used to buy equipment operate a business

region offering special tax breaks eased environmental restrictions and other incentives to attract foreign business and investments

a region where a group of countries has agreed to reduce or eliminate trade barriers

areas where governments create favorable investment and trading conditions to attract export- oriented industries

a collection of 17 goals designed to be a “blueprint to achieve a better and more sustainable future for all”

economic development that is conducted without depletion of natural resources

The practice and business of recreational travel based on concern for the environment