unit 7

shipping container:

container with strength suitable to withstand shipment, storage and handling

Least Cost Theory:

Alfred Weber theory that describes the optimal location of an industry in relation to costs of transport, labor, and relative advantages of agglomeration an industry is located where it can minimize its costs, and therefore maximize its profits

development:

a change in the economic and social level of a country through industrialization, urbanization, and standard of living

post-industrial society:

a society in which the economy has transitioned from a manufacturing-based economy to a service-based economy

objective of gender equality:

a society in which women and men enjoy the same opportunities, rights, and obligations in all spheres of life and is linked to sustainable development

gender inequality:

acknowledges that gender affects an individual's lived experiences; gender inequality is experienced across different cultures; tradition and culture pose obstacles to women's economic development, especially in less developed countries

rise of women in the workforce:

although more women are in the workforce, they do not have equity in wages or employment opportunities

labor:

availability/cost

land costs:

availability/cost

resources:

availability/cost

spread of industrialization:

caused food supplies to increase and populations to grow created new industrial jobs in the cities changed social class structures caused investors in industry to seek out more raw materials and new markets contributed to the rise of colonialism and imperialism

role of women:

changes as countries develop economically

semi-periphery:

countries that are industrializing that exert more power in the world economy than the periphery, but are dominated to some degree by the core e.g. newly industrialized countries such as Brazil, Russia, India, China, South Africa, Turkey

core:

countries where economic power (wealth, innovation, technology) is concentrated that control and benefit from the global market on which periphery and semi-periphery countries depend e.g. U.S., Western European countries, Canada, Australia, Japan

MDC (more developed country):

countries with highly developed economies, high levels of industrialization, urbanization, advanced technological infrastructure and high standards of living

periphery:

countries with low levels of economic productivity and a disproportionately small share of the world's wealth with weaker state institutions, lower standards of living and are often dependent on the core e.g. Sub-Saharan African countries (except South Africa), parts of South America and Asia

LDC (less developed country):

countries with low levels of industrialization, urbanization and low standards of living that are mainly focused on primary activities, predominantly agriculture

quinary sector:

economic activity consisting of high-level decision making and advancement of human capacities e.g. scientific research, higher education, government

quaternary sector:

economic activity that involves collecting, processing & manipulation of information & capital e.g. finance, insurance, computer services

primary sector:

economic activity that involves extracting (raw materials) or harvesting (food) products e.g. gathering industries (renewable resources): agriculture, forestry, hunting and gathering, fishing, grazing e.g. extractive industries (nonrenewable resources): mining, quarrying

secondary sector:

economic activity that processes raw materials and transforms them into finished goods e.g. manufacturing industries

tertiary sector:

economic activity that provides services e.g. health, legal, education, restaurants, stores

markets:

facilitate trade (the exchange of goods/services)

footloose industries:

industry in which the location is not impacted by the cost of transporting either raw materials or finished products e.g. software, insurance, semiconductors, computer chips, e-commerce

intermodal container:

large standardized shipping container that can be used across different modes of transportation (ship-rail-truck)

NIC (newly industrialized country):

less developed countries with growing industrial economies and a developing trade status in the global market place (BRICs: Brazil, Russia, India, China, South Africa)

microloan:

low interest loans usually for smaller sums of money to provide extremely poor people the opportunity to open a small local business and is often targeted to women in less developed countries to lift them out of poverty and is helping to improve standards of living

Gini coefficient:

measurement of income distribution within a population e.g. percent of income inequality vs income equality

gender parity:

measurement of the relative access to education of males and females e.g. ratio of females to males enrolled in a given stage of education (primary, secondary)

GNI per capita (gross national income per capita):

measurement of the total value of goods and services produced within the borders of a country plus the net income from companies that are located outside the country and foreign investments, but minus dividend payments and indirect business taxes during a specific time period, usually one year, divided by the population

GDP (gross domestic product):

measurement of the total value of goods and services produced within the borders of a country during a specific time period, usually one year

GNP (gross national product):

measurement of the total value of goods and services produced within the borders of a country plus the net income from companies that are located outside the country and foreign investments during a specific time period, usually one year

GII (gender inequality index):

measurement that evaluates women's status in a country based on participation in economic, political, and labor-market participation, as well as reproductive health issues, indices of empowerment, and labor-market participation

HDI (human development index):

measurement used by the United Nations to calculate development in terms of human welfare (using both economic and social indicators)

infant mortality rate:

number of deaths under one year of age per 1,000 live births during a given year

use of fossil fuels and renewable energy:

percent from which a country obtains its energy source

literacy rate:

percent of population who can read and write

intermodal connections:

places where two or more modes of transportation meet (air, road, rail, ship)

industrialization

process that occurs when countries evolve from primarily agricultural producing basic, primary goods to one based on mechanized mass manufacturing of goods (craftsmen are replaced by assembly lines)

transportation:

proximity to shipping and markets

access to health care:

refers to the ease with which an individual can obtain needed medical services

fertility rate:

the average number of children a woman will have during her childbearing years (15-49)

agglomeration:

the clustering of businesses that can benefit from close proximity because they share skilled-labor e.g. auto industry in Michigan technology industry in northern California insurance industry in Connecticut

economic sectors of the economy:

the percent of economic activities that a country relies on -periphery countries tend to have a larger percentage engaged in primary activities -semi-periphery countries are transitioning from primary activities to secondary activities -core countries tend to have a larger percentage engaged in tertiary, quarternary, and/or quinary activities

formal and informal economic activity:

the percent of taxed and non-taxed economic activity within a country e.g. semi-periphery and periphery countries tend to have a larger percentage engaged in the non-taxed economy

Industrial Revolution

the term used for the transformation from an agricultural society to an industrial society as a result of new technologies and facilitated by the availability of natural resources (resulting in factories, mass-produced goods, and assembly lines that replaced handmade goods)

break of bulk point:

the transfer of transported cargo from one kind of carrier to another e.g. port: from ship to truck