Barron’s Chapter 6 Test – Flashcards
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| What is the study of the flow of goods and services through space? |
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| Economic Geography |
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| Who studies the ways in which people provide for themselves in different places and geographic patterns of inequality at all scales of economic organization? |
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| Economic Geographers |
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| What has always been a major theme in economic geography? |
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| Industrialization |
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| Where were most goods produced before the Industrial Revolution? |
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| Small shops or out of the home |
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| By the end of the 20th century, mass production and assembly lines, first championed by who, had replaced many specialty goods? |
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| Henry Ford |
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| What are particularly important examples of the social changes associated with the Industrial Revolution? |
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| The rise of wage labor and large-scale urbanization |
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| For almost how many years was heavy industry mostly limited to northern Europe, East Asia, and North America? |
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| 200 |
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| What 6 countries remained at the forefront of the industrial production and innovation through the middle of the 20th century? |
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| Britain, France, the United States, Russia, Germany, and Japan |
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| By what time period did the most highly developed countries already start shifting to information and service-based economies? |
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| 1970's |
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| The high-tech and service industry jobs that began to dominate these countries' job markets during the 1970s and 1980s generally provide what 4 things? |
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| Better pay, safer working conditions, less pollution and a higher standard of living than factory jobs |
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| Deindustrialization has been particularly extreme in places like what? |
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| The American Midwest and Central Britain |
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| What is an example of an economic region that has been hit particularly hard by deindustrialization? |
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| The Great Lakes |
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| What is particularly disheartening example of deindustrialization? |
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| Flint, Michigan |
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| T/F: Deindustrialization has highly regionalized effects? |
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| True |
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| While deindustrialization was debilitating some regions of the developed world, other regions were undergoing a different type of economic revolution--which is what? |
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| High tech boom |
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| Between what two years did defense and aerospace contribute greatly to the rapidly growing high-tech industry? |
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| 1960 and 1990 |
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| During what time did software development and e-commerce rise to prominence? |
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| 1990's |
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| In the future, all commerce would take place where? |
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| On-line |
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| What is an acute example of the problem of selling products online? |
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| On-line grocery stores |
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| What ultimately caused the the on-line grocery stores' to fail? |
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| Transaction costs |
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| What is a classic example of a transnational corporation? |
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| Nike is a classic example and General Motors is an example |
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| T/F: Most transnationals are also conglomerate corporations? |
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| True |
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| What are 3 examples of glomerate corporations? |
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| General Motors, General Electric, and Mitsubishi |
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| T/F: Export-processing zones are not common around the world? |
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| False |
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| What is one prime example of export-processing zones? |
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| Mexico's system of maquiladoras |
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| What are some examples of offshore financial centers? |
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| Panama, Luxembourg, Switzerland, Singapore, the Bahamas, and Kuwait |
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| Over the past how many years, the economies of countries like the United States, Germany, and Great Britain have followed similar paths of economic development? |
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| 200 |
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| T/F: All countries contain all four types of economic activities? |
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| True |
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| Who's economy relies on banking research and development, tourism, and other quaternary activities? |
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| Switzerland's |
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| What country is extensively industrialized but far less developed than Switzerland; it is currently the site of a vast secondary activity economy, yet it has relatively few advanced quaternary activities? |
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| Indonesia |
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| What is one of the world's least-developed countries? |
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| Madagascar |
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| Primary economic activities including farming, livestock ranching, nomadic herding, mining, and fishing dominate what country's economy? |
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| Madagascar |
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| T/F: The shift from primary and secondary economic sectors to tertiary and quaternary will always achieve absolute completion within a country? |
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| False, it never will |
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| In 1960, who developed these observations into a formal theory called Rostow's stages of development? |
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| W. W. Rostow, an American economist and historian |
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| Rostow argued that countries undergo how many stages of economic development? |
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| 5 |
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| What happens during the first stage of Rostow's theory? |
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| The country's economy is dominated by primary activities |
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| What happens during the second stage of Rostow's theory? |
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| Preconditions for economic development arise |
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| What happens during the third stage of Rostow's theory? |
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| Foreign investment pours in, jumpstarting an economy that was already prepped for growth |
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| What is an important aspect of the third stage? |
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| A large proportion of foreign investment goes to infrastructure improvements, such as building roads and canals. |
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| What happens during the fourth stage of Rostow's theory? |
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| The country develops a broad manufacturing and commercial base |
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| What happens during the fifth stage of Rostow's theory? |
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| High per capita incomes and high levels of mass consumption |
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| What is an example of a country in the first stage of Rostow's model? |
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| Nepal |
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| What is an example of a country in the fifth stage of Rostow's model? |
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| Denmark |
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| T/F: Rostow's stages of development model accounts for deindustrialization? |
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| False |
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| Indices of development fall into one of what two categories? |
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| Economic measures or Noneconomic measures, which usually consist of a specific measure of social welfare |
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| What is one important economic measure of development? |
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| the Gross National Product or GNP |
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| What does the GNP assume that development can be measured by? |
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| Monetary terms |
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| What two things does the GNP not account for? |
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| The money value of all the goods produced by subsistence economies characteristic of many developing countries and capital that is lost through the exploitation of natural resources |
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| For what country would the GNP by significantly larger than the GDP? |
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| Japan |
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| What is one example of an alternate measure of development? |
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| Human Development Index |
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| The Human Development Index evaluates human welfare based on what three parameters? |
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| Life Expectancy, Education, and Income |
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| What is an important measure of human welfare that is not necessarily correlated with GNP? |
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| Gender equity |
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| The core- which includes most of Europe, Japan, the United States, Canada, Australia, and New Zealand- is made up of countries with what? |
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| Relatively high per-capita incomes and high standards of living |
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| What are three examples of world cities? |
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| London, Tokyo, and New York |
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| What are examples of places on the semi-periphery? |
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| Chile, Brazil, India, China, and Indonesia |
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| What are examples of places in the periphery? |
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| Africa (without S. Africa), parts of South America and Asia |
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| Where are the people that live in some of the worst conditions on Earth located? |
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| Sao Paul, Brazil; Mexico City, Mexico; Jakarta, Indonesia; and Mumbai, India |
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| Who's world-system theory describes the earth as an interdependent system of countries liked by political and economic competition, similar to the core-periphery model? |
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| Immanuel Wallerstein |
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| On a smaller scale, who studies the factors that determine where specific economic activities take place? |
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| Economic Geographers |
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| One of the location principles says that the location a company chooses must provide easy ______ to the materials necessary for production? |
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| Access |
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| One of the location principles says that the location must have an adequate _______________. For some industries inexpensive, unskilled labor is best, but for others, such as information technology, an abundance of skilled labor is necessary? |
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| Supply of labor |
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| One of the location principles says that _________________________________ is also a key factor, especially for industries producing items that are either bulky or perishable. These items either expensive to ship or, by their nature, time-sensitive? |
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| Proximity to shipping and markets |
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| One of the location principles says that the site should be chosen to minimize _______________. Firms can minimize production costs by locating in a place with cheap land. Government policies can also have an important impact on production costs. States like Nevada have attracted many firms during the past decades by providing tax incentives for relocating there? |
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| Production costs |
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| One of the location principles says that _______________, such as climate, may limit the geographical distribution certain types of firms, such as agribusiness corporations? |
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| Natural factors |
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| One of the location principles says that the firm's _______ and its leaders' _____________________ may also influence the final choice? |
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| History; Personal inclinations |
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| What is an important exception to Weber's least-cost theory? |
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| Some industries have no real inclination to be located close to either raw materials or primary markets, since their products are so lightweight and valuable |
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| What are excellent examples of footloose firms? |
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| The diamond and computer chip markets |
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| What are examples of agglomeration? |
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| Computer companies in Silicon Valley, California and Austin, Texas; Fashion designers in Milan, Italy and Paris, France; Motion picture studios in Los Angeles, California and Mumbai (Bombay), India |
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| T/F: As more firms from the same industry locate in particular areas, even more resources become available? |
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| True |
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| What is it called that happens in the previous question? |
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| Multiplier Effect |
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| What is the opposite of agglomeration? |
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| Deglomeration |
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| What is an example of deglomeration? |
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| After the dot-com bust, some high-tech firms left San Francisco because the costs of living were so high |
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| What has historically been the primary manufacturing region in the United States? |
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| The Great Lakes Region: Michigan, Illinois, Indiana, Ohio, New York, and Pennsylvania |
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| How soon is our global supply of oil suspected to run out? |
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| Less than 100 years |
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| In what tiny Himalayan country is the government's official policy to measure success through "gross national happiness," not Gross National Product? |
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| Bhutan |
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| What is a particularly well-suited tool for understanding the injustices inherent in global economics and for evaluating options for helping people to create a truly sustainable future? |
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| Human Geography |
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| What is the probably most commonly abused catch phrase used to explain the world's current political and economic trends? |
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| Globalizatoin |
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| During what time period did the world become increasingly interconnected? |
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| Renaissance |
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| During what century did the Industrial Revolution once again increase global economic integration, as industrializing countries sought raw materials for construction and new markets for their goods? |
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| 19th |
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| After the connection in the 19th century, during what years were the connection interrupted by the wave of economic crises that rocked the world's markets? |
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| 1880s and 1890s |
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| What represents a medium for current globalization? |
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| Cyberspace |
