Economic Geography

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Key terms in Chapter 6: Economic Geography in the AP book.

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Export-processing zone: Areas where governments create favorable investment and trading conditions to attract export-oriented industries.
Fordism: System of standardized mass production attributed to Henry Ford.
Least-cost theory: A concept developed by Alfred Weber to describe the optimal location of a manufacturing establishment in relation to the costs of transport and labor, and the relative advantages of agglomeration or deglomeration.
Bulk reducing industries: Industries whose final products weigh less than their constituent parts, and whose processing facilities tend to be located close to sources of raw materials.
Gross Domestic Product: The total value of goods and services produced within the borders of a country during a specific time period, usually one year.
Quinary economic activities: The most advanced form of quaternary activities consisting of high-level decision making for large corporations or high-level scientific research.
Globalization: The idea that the world is becoming increasingly interconnected on a global scale such that smaller scales of political and economic life are becoming obsolete.
Deglomeration: The dispersal of an industry that formerly existed in an established agglomeration.
Bulk gaining industries: Industries whose products weigh more after assembly than they did previously in their constituent parts. Such industries tend to have production facilities close to their markets.
Quaternary economic activities: Economic activities concerned with research, information gathering, and administration.
Core-periphery model: A model of the spatial structure of development in which underdeveloped countries are defined by their dependence on a developed core region.
Productivity: A measure of the goods and services produced within a particular country.
Fast world: Areas of the world, usually the economic core, that experience greater levels of connection due to high-speed telecommunications and transportation technologies.
Periphery: Countries that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living. The world economic periphery includes Africa (except for South Africa), parts of South America, and Asia.
Economic backwaters: Regions that fail to gain from national economic development.
Industrialization: Process of industrial development in which countries evolve economically, from producing basic, primary goods to using modern factories for mass-producing goods. At the highest levels of development, national economies are geared mainly toward the delivery of services and exchange of information.
Manufacturing region: A region in which manufacturing activities have clustered together. the major US industrial region has historically been in the Great Lakes, which includes the staes of Michigan, Illinois, Indiana, Ohio, New York, and Pennsylvania. industrial regions also exist in southeastern Brazil, central England, around Tokyo, Japan, and elsewhere
Brick-and-mortar business: Traditional businesses with actual stroes in which trade or retail occurs; it does not exist solely on the Internet.
Primary economic activities: Economic activities in which natural resources are made available for use or further processing, including mining, agriculture, forestry, and fishing.
Gender equity: A measure of the opportunities given to women compared to men within a given country.
Gross National Product: The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year.
Offshore financial center: Areas that have been specially designed to promote business transactions, and thus have become centers for banking and finance.
Purchasing Power Parity: A monetary measurement of development that takes into account what money buys in different countries.
Deindustrialization: Loss of industrial activity in a region.
Industrial Revolution: The rapid economic and social changes in manufacturing that resulted after the introduction of the factory system to the textitle industry in England at the end of the 18th century.
Break-bulk point: A location where large shipments of goods are broken up into smaller containers for delivery.
Maquiladoras: Those U.S. firms that have factories just outside the United States/Mexican border in areas that have been specially designated by the Mexican government. In such areas, factories cheaply assemble goods for export back into the United States.
Conglomerate corporation: A firm that is comprised of many smaller firms that serve several different functions.
Ecotourism: A form of tourism, based on the enjoyment of scenic areas or natural wonders, that aims to provide an experience of nature or culture in an environmentally sustainable way.
Nonrenewable resources: Natural resources, such as fossil fuels, that do not replenish themselves in a timeframe that is relevant for human consumption.
Footloose firms: Manufacturing activities in which cost of transporting both raw materials and finished product is not important for determining the location of the firm.
Backwash effect: The negative effects on one region that result from economic growth within another region.
Least-developed countries: Those countries including countries in Africa, except for South Africa, and parts of South America and Asia, that usually have low levels of economic productivity, low per capita incomes, and generally low standards of living.
Net National Product: A measure of all goods and services produced by a country in a year, including production from its investments abroad, minus the loss or degradation of natural resource capital as a result of productivity.
Core: National or global regions where economic power, in terms of wealth, innovation, and advanced technology, is concentrated.
Human Development Index: Measure used by the United Nations that calculates development not in terms of money or productivity but in terms of human welfare. The HDI evaluates human welfare based on three parameters: life expentancy, education, and income.
Anthropocentric: Human-centered; in sustainable development, anthropocentric refers to ideas that focus solely on the needs of people without considering the creatures with whom we share the planet or the ecosystems upon which we depend.
Outsourcing: Sending industrial processes out for external production. The term increasingly applies not only to traditional industrial functions, but also to the contracting of service industry functions to companies to overseas locations, where operating costs remain relatively low.
Industrialized countries: Those countries including Britain, France, the United States, Russia, Germany, and Japan, that were all at the forefront of industrial production and innovation through the middle of the 20th century. While industry is currently shifting to other countries to take advantage of cheaper labor and more relaxed environmental standards, these countries still account for a large portion of the world's total industrial output.
Development: The process of economic growth, expansion, or realization of regional resource potential.
Agglomeration: Grouping together of many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labor resources.
Foreign investment: Overseas business investments made by private companies.
Cottage industry: An industry in which the production of goods and services is based in homes, as opposed to factories.
E-commerce: Web-based economic activities.
Ancillary activities: Economic activities that surround and support large-scale industries such as shipping and food service.
Renewable resources: Any natural resource that can replenish itself in a relatively short period of time, usually no longer than the length of a human life.
Regionalization: The process by which specific regions acquire characteristics that differentiate them from others within the same country. In economic geography, it involves the development of dominant economic activities in particular regions.

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