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Agglomeration

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Phenomenon of economic activity congregating in or close to a single location, rather than being spread out uniformly over space.

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Ancillary Activities

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Economic activities that surround and support large-scale industries such as shipping and food service.

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Assembly Line

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Arrangement of tools, machines, and workers in which a product is assembled by having each perform a specific, successive operation on an incomplete unit as it passes by in a series of stages organized in a direct line.

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Basic Industry

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Industry producing goods or services for sale to other regions.

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Bid Rent Theory

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Geographical economic theory that refers to how the price and demand on real estate changes as the distance towards the Central Business District (CBD) increases.

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Break-of-Bulk Point

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Point of location where transfer among transportation modes is possible.

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BRIC

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Brazil, Russia, India, and China are the four fast-growing markets that represent important opportunities.

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Bulk-Gaining Industry

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Industry that makes something gain volume or weight during production.

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Bulk-Reducing Industry

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Economic activity in which the final product weighs less than its inputs.

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Canadian Industrial Heartland

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Canada has a sizable manufacturing sector, centred in Central Canada, with the automobile industry especially important.

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Capitalism

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An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth.

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Conglomerate Corporation

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A firm that is comprised of many smaller firms that serve several different functions.

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Communism

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A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.

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Comparative Advantage

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The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.

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Complementarity

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The actual or potential relationship between two places, usually referring to economic interactions.

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Cottage Industry

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Home-based manufacturing. An example of this is textile manufacturing.

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Deglomeration

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The process of industrial de-consentration in response to technological advances and/or increasing costs due to congestion and competition.

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Deindustrialization

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Process by which companies move industrial jobs to other regions with cheaper labor, leaving the other region to switch to a service economy and to work through a period of high unemployment.

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Distance Decay

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The effects of distance on interaction, generally the greater the distance the less interaction.

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Economic Sectors

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The primary, secondary, tertiary, quaternary, and quinary sectors.

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Economies of Scale

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Lower production costs as a result of larger volume of production.

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Ecotourism

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A form of tourism that supports the conservation and sustainable development of ecologically unique areas.

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Energy Resources

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Natural resources that can be converted into energy.

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Entrepot

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A trading post where merchandise can be imported and exported without paying import duties.

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Export Processing Zone

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Industrial parks for foreign companies to conduct export-oriented manufacturing.

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Fixed Costs

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Costs that do not vary with the quantity of output produced.

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Footloose Industry

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Industry that is located in a wide variety of places without a significant change in its cost of transportation, land, labor, and capital.

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Fordism

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Approach that explains how many industries are attracted to locations with relatively skilled labor to introduce new rules. Traditionally, in large factories, each worker was assigned one specific task to perform repeatedly. Relatively skilled workers are needed to master the wider variety of assignments given to them.

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Four Tigers

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Four Asian Tigers refers to the economies of Taiwan, Singapore, Hong Kong, and South Korea, aka, Asia's Four Little Dragons.

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Friction of Distance

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The increase of time and cost that usually comes with the increase of distance.

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Growth Poles

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Economic development, or growth, is not uniform over an entire region, but instead takes place around a specific pole.

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Industrial Location Theory

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By Alfred Weber, an industry is located where the transportation costs of raw materials and final product is a minimum.

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Industrial Revolution

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Revolution that transformed how goods are produced for a society and the way people obtain food, clothing, and shelter.

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Infrastructure

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Fundamental facilities and systems serving a country, city, or area, as transportation and communication systems, power plants, and schools.

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International Division of Labor

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Selective transfer of skilled jobs in MDCs to LDCs that still allows skilled jobs to exist in MDCs.

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"Just-in-Time" Delivery

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Method of inventory management made possible by efficient transportation and communication system, whereby companies keep on hand what they need for near term production, planning that what they need for longer term production will arrive when needed.

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Labor-Intensive Industry

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Type of industry in which labor cost is a high percentage of expense.

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Least Cost Theory

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States that optimum location of a manufacturing firm is explained in terms of cost minimization.

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Maquiladora

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Factories built by U.S. companies in Mexico near the U.S. border to take advantage of much cheaper labor costs in Mexico.

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NAFTA

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North American Free Trade Agreement; allows open trade with US, Mexico, and Canada.

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Non-Basic Industry

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Industry producing goods and services for sale within the local region.

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Outsourcing

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To turn over in part or in total to a third party.

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Postindustrial

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Relating to a society or economy marked by a lessened importance of manufacturing and an increase of services, information, and research.

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Primary Industry

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Economic activity that directly extracts or harvests from the Earth.

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Quaternary Industry

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The research and distribution of information.

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Quinary Industry

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Provides services such as education, health care and domestic work that focuses on consumers.

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Regionalization

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Process by which specific regions acquire characteristics that differentiate them from others within the same country; certain economic activities may dominate in particular regions.

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Rostow's Modernization Theory

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A theory that focuses on the process of change and the responses to change. It looks at internal dynamics of a country while referring to social and cultural structures and the adaptation to new technologies.

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Secondary Industry

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Economic activity that transforms raw materials into usable products, adding value in the process.

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Site Factors

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Characteristics that result from the characteristics of a location, such as land, labor, and capital.

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Situation Factors

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Characteristics that involve transporting materials to and from a factory.

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Socialism

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A system in which society, usually in the form of the government, owns and controls the means of production.

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Special Economic Zones

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Specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment.

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Stages of Development Model

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Stage 1-Conformity Stage 2-Dissonance and appreciation Stage 3-Resistance and immersion Stage 4-Introspection Stage 5-Integrative Awareness

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Substitution Principle

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Principle that maintains that the correct location of a production facility is where the net profit is the greatest. Therefore in industry, there is a tendency to substitute one factor of production (e.g., labor) for another (e.g., capital for automated equipment) in order to achieve optimum plant location.

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Tertiary Industry

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Economic activity that links the primary and secondary sectors to the consumers and other businesses either by selling goods directly or by performing services utilizing those goods.

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Topocide

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The deliberate killing of a place through industrial expansion and change, so that its earlier landscape and character are destroyed.

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Transnational Corporation

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A company that conducts research, operates factories, and sells products in many countries, not just where its headquarters or shareholders are located.

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Variable Costs

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Costs that change directly with the amount of production.

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Wallerstein's Dependency Theory

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Rejects the thought that LDCs are mirror images of what MDCs used to be. Instead of stating that these LDCs can catch up with MDCs, this theory states that they are in another class completely and should stop trying to follow the same path as MDCs followed, and choose a path more suited to their own needs. Also states that MDCs were never in the "primitive" stage that LDCs currently reside in. Wallerstein says that LDCs should reduce their relations to MDCs so that they can fit in better with their classification.

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Wallerstein's World Systems Analysis

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This analysis holds the view that the global economic system is divided between nations that control wealth and those from which resources are taken. This analysis describes the unequal economic and political relationships in which certain industrialized nations dominate the core of the system.

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Wallerstein's Core-Periphery Model

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States that more developed countries (with the exception of Australia and New Zealand) are the core, and that LDCs are the periphery. When looking at a polar map, this is shown with a circular view, and when looking at a flat map, this is divided by a north-south line.

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Weber

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Creator of the model that states that the optimum location of a manufacturing firm is explained in terms of cost minimization.

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World Cities

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Huge urban areas that are the most important centers of economic power and wealth.

AP Human Geography Chapter 11–Carlisle – Flashcards

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