AP Test Flashcards

9969331078	Agglomeration Diseconomies	Negative economic and social effects steaming from concentration of industry in a particular area	0
9969343074	Ancillary Activities	Economic activities that surround and support large scale industries. ex: delivery, food services, accounting	1
9969361260	Backwash Effect	Negative effects on one region that results from economic growth within another region	2
9969372592	Base Ratio	Ratio of basic to nonbasic employees in a local area, typically an urban area	3
9969380918	Basic vs Nonbasic Sector	Basic sector- includes any industry that brings in money from outside the area nonbasic- includes all industry that supports and services the local community	4
9969397561	Brain Drain	When people of high education or with high-level professional positions pursue economic opportunities outside their home country	5
9969408142	Break of Bulk Point	Location where large shipments of goods are broken up into smaller containers, for example ports. Often a shift in transportation.	6
9969427802	Brick-and-Mortar Business vs E-commerce	Brick-and-Mortar- traditional businesses with actual stores in which trade or retro; occurs E-commerce- web based economic activities	7
9969440991	BRICS	Brazil, Russia, India, China, and South Africa which are rapid growing economies in the developing world	8
9969453641	Bulk-Gaining and Bulk-Reducing Industries	Gaining- product weighs more after the assembly Reducing- weighs less after production	9
9969475950	Call centers	Industries that experience a large volume of telephone-related interactions. India is known for these.	10
9969487310	Comparative Advantage	Areas or regions should produce goods for which they have the greatest relative advantage over other areas.	11
9969511808	Core-Periphery Model	Models the spatial structure of development in which undeveloped countries are defined by their dependence on a developed core.	12
9969531085	Core, Periphery, and Semi-periphery	Core- includes national or global regions where economic power is concentrated Periphery- countries with low levels of economic productivity, low GDPs, and generally low standards of living Semi-periphery- includes newly industrialized countries with median standards of living	13
9969555499	Cottage Industry	Industry in which production of goods and services is based in homes, as opposed to factories.	14
9975991331	Cumulative Causation	Similar to the multiplier effect, an economic term used to describe the positive effect of agglomeration.	15
9976058263	Deglomeration	The dispersal of an industry that formerly existed I an established agglomeration	16
9976065554	Deindustrialization	Loss of industrial activity in a region, typically because of relocation to developing countries with cheaper labor and relaxed environmental standards.	17
9976080518	Dependency Theory	Development philosophy whereby recently independent colonies independent colonies work to remove themselves from the economically dependent relationship established under colonization	18
9976098917	Digital Divide	Term used to describe a big gap in access to communications technologies typically between the highly develop and least developed regions of the globe	19
9976125588	Downfalls of Sustainable Development Model	Model focuses only on humans, without consideration of other animals or ecosystems humans depend on. Vague and no guarantee that it will actually result in conservation or natural resources	20
9976142714	Ecological Footprint	A measure that calculates how much space the population needs compared to whats available. Based on consumption of renewable resources and pollution production	21
9976156796	Economic Development	Process of economic growth, expansion, or realization of regional resource potential.	22
9976165881	Economic Sectors: Globally	Transition from being focused on primary and secondary economic activities to being concentrated in tertiary and quaternary activities	23
9976179306	Ecotourism	Form of tourism based on enjoyment of scenic areas or natural wonders.	24
9976188688	Export Processing Zones (EPZs)	Areas where governments create favorable investment and trading conditions to attract export-oriented industries. (Maquiladoras)	25
9976201649	Factory Location Considerations	-easy access to production materials needed -Adequate supply of labor -proximal to shipping and markets -should minimize production costs -physical geography/ history (Not always)F	26
9976221158	Fast World vs Slow World	Fast- experience greater levels of connection due to technology Slow- experience lower levels of connection due to nonexistent technology	27
9976240788	Footloose Industry	Manufacturing or other industry in which the cost of transporting both raw materials and finished product is not important for determining location of the firm. ex: Magazine industries	28
9976254074	Fordism	System of standardized mass production attributed to Henry Ford. (Assembly Lines)	29
9976327422	Foreign Direct Investment	Overseas business investments made by private companies. Labor is typically cheaper than in the homeland so factories are bought by transnational corporations	30
9976361052	Formal vs Informal economic activities	-economic activities that are a part of the formal economy are legally registered and taxed -economic activities are not legally registered or taxed	31
9976376846	Four Tigers	Hong Kong, Singapore, South Korea, and Taiwan economies. Pursued export driven development in the 60s but leveled off in the 90s	32
9976398823	GDP, GNP, PPP	-Gross Domestic Product: total amount of good and services produced within the boarders of a country -Gross National Product: Total value of goods and services produced by residents of a country -Purchasing Power Parity: Momentary measurement of development that takes into account what money buys in different countries	33
9976424091	Gender Equity	Measure of opportunities given to women compared to men within a given country.	34
9976434468	Geography of Tourism	Lots of money is coming into LDC through tourism.	35
9976454855	Global Distribution of GNP	-highest GNP are found in core regions -mid level GNP are found in semi-peripheral regions -Low levels f GNP are found in South Asia and sub-Saharan Africa	36
9976469155	Globalization	The idea that the world is becoming integrated on a global scale such that smaller scales of political and economic life are becoming obsolete	37
9976488682	Human Development Index (HDI)	Measure used by the UN that calculates development in terms of human welfare rather than money or productivity. (Life expectancy, education, and income)	38
9976503768	Import Substitution	Strategy where domestic producers substitute manufactured imports with goods produced locally	39
9976518678	Industrial Revolution	Profound technological and economic changes that arose I England During the late eighteenth century and rapidly spread to other parts of Europe and North America. (modern factories, mass-produced goods, and modern forms of capital investment)	40
9976538171	Industrialization	Process of industrial development in which countries evolve economically from primary based goods to using modern factories for mass production	41
9976552175	Industrialization and Urbanization	industrialization was a form of urbanization. it was also a major step towards modern urbanization	42
9976561356	Industrialized Countries	Britain, France, Germany, Japan, Russia, and the US.	43
9976568383	Infrastructure	The set of technological support and services that maintain and advance society. (Land Features)	44
9976584756	Intervening Opportunities	A closer, alternative supply source between a demand point and the original supply source	45
9976593841	Just-in-Time Production	Because of increase in transportation and communications technologies, producers can minimize their inventory through frequent deliveries of specific amounts of material.	46
9976606086	Least-Developed Countries (LDCs)	Low levels of economic productivity, Low per capita incomes, and generally low standards of living. (South and South East Asia, parts of South America, and sub-Saharan Africa except South Africa)	47
9976620759	Localization Economies	type of agglomeration economy in which smaller industries concentrate together in one area or region.	48
9976627288	Manufacturing Region	A region which manufacturing activities have clustered together. (US Great Lakes States)	49
9976637504	NAFTA/ North American Free Trade Agreement	International treat made between Canada, US, and Mexico that lessens trade restrictions to increase business between the three countries. (1994)	50
9976650594	Neocolonialism	economic, political, or military dependencies that exist between developed and developing countries. even after most countries under colonial rule achieved independence.	51
9976670029	Neoliberal Policies	Economic policies that limit the role of the government in favor of free-market mechanisms	52
9976678715	Net National Product (NNP)	Measure of all goods and services produced by a country per year, minus loss or degradation of natural resource capital as a result of productivity.	53
9976696018	Newly Industrializing Countries (NICs)	Countries that were formerly peripheral but have developed a significant industrial sector as a result of foreign direct investment	54
9976704210	Offshore Financial Centers	Areas that have been specifically designed to promote business transactions, making them centers for banking and finance.	55
9976713000	Outsourcing	sending industrial out for external production, typically where labor is cheaper than internal labor	56
9976726581	Quaternary and Quinary Economic Activities	Quatern-service based concerned with research, information gathering, and administration Quin- high level decision making for large corporations or high-level scientific research.	57
9976738735	Rostows Model	Stage 1- Primary Economic sector Stage 2- Preconditions for take-off emerge, includes commercialized agriculture. Stage 3- Foreign investment pours in, jump starting an economy prepped for growth Stage 4-a broad manufacturing commercial base is developed Stage 5- characterized by high mass consumption and high per capita incomes	58
9976764116	Rostows Model: Critiques	-Model describes development process in America and Europe but not many other countries. -assumes there is only five stages of economic growth -high levels go mass consumption may not be associated with high levels of development -Does not account for deindustrialization	59
9976929362	Secondary Economic activities	Concerned with precessing of raw material. ex: manufacturing	60
9976936977	Service Offshoring	Practice of hiring foreign workers or contracting with an international third-party service provider to run service-based functions of a particular industry. ex: call centers	61
9976953990	Spatially Fixed vs Spatially Variable Costs	Fixed- costs are input costs in manufacturing that remain constant whenever production is located Variable- input costs that change significantly from place to place int hero total amount share of total costs	62
9976968690	Specialty Goods	Goods that are not mass-produced but rather assembled individually or in small quantities.	63
9976974768	Sustainable Development	Idea that people living today should be able to meet their needs without prohibiting ability or future generations to do the same	64
9976989813	Tertiary Economic Activities	Provide the market for exchange of goods by bringing together consumers and providers of services such as retail, transportation, government, and personal and professional services	65
9977002271	Transferability	The cost os moving a commodity relative to the commodity's ability to bear the cost of moving.	66
9977010545	Transition of the Global Economic Core Over Time	1800s-the core regions included Western Europe and Eastern US 1900s- Core regions had extended to all of the US, more of Western Europe, Australia, and Japan 2000s- Us, Western Europe, Australia, and Japan however more countries were considered semi-periphery instead of peripheral regions.	67
9977031960	Transnational Corporations (TNCs)	Take advantage of geographic differences in wages, labor, environmental regulations, taxes, and distribution of natural resources by locating various aspects of production in different countries.	68
9977044374	Urbanization Economies	type of agglomeration economy describing clustering of industrial activity in urban areas	69
9977053093	US Agglomeration	Los Angeles- Entertainment Industry Silicon Valley and Norther California- Computer and software exists New York- Finance Activities Connecticut-insurance related industries Texas- Energy related industries	70
9977071784	Weber's Least Cost Theory	Describes optimal location of a manufacturing establishment in relation to costs of transportation, labor, and relative advantages of agglomeration	71
9977081895	World Systems Theory	(Wallerstein) Describes the emergence of a core, periphery, and semi-periphery in terms of economic and political connections.	72