Geog ch 12

  1. system in which the state defers to private enterprise and a stock market raises and allocates capital
    capitalist economic system
  2. the process of progressively increasing the value of goods and services that a place is able to produce in order to enjoy or export
    economic development
  3. the economic factors determining that as the number of units of a good produced increases, the production cost per unit generally falls
    economies of scale
  4. travel to see distinctive examples of scenery, unusual natural environments, or wildlife
  5. a national economic policy of welcoming foreign investment to build factories that will manufacture goods for international markets
    export-led economic growth
  6. defined during the cold war, all reasonably well-to-do, non-Communist countries
    First World
  7. investment by foreigners in wholly owned enterprises that are operated by the foreigner
    foreign direct investment (FDI)
  8. an undeveloped region that may offer potential for settlement
  9. the total value of all goods and services produced within a counrty
    gross domestic product
  10. a country's GDP plus any income that residents receive from foreign investments, minus any money paid out of the country to foreign investors
    gross national income
  11. a statistic that combines statistics of life expectancy, school enrollment, literacy, and income to compare the quality of life around the world
    human development index (HDI)
  12. a national economic policy of protecting domestic infant industries
    import-substitution economic growth
  13. a society with a significant share of its output from the secondary sector
    industrial society
  14. newly developing industries that probably cannot compete with imports
    infant industries
  15. a capitalist system that minimizes the government's role in the economy
    laissez-faire capitalism
  16. manufacturing that locates close to the market either bc the processing increases the perishability of the product or because the processing adds bulk or weight to the product
    market oriented manufacturing
  17. an enterprise that produces and markets goods in several countries
    multinational corporation
  18. the name given to the delegation of any of a firm's operations to an external subcontractor who specializes in that activity
  19. if the outsourcing is to a foreign country
    off shore outsourcing
  20. the study of individual countries' organization and regulation of their economies
    political economy
  21. a society with the bulk of its economic activity in the tertiary sector
    postindustrial society
  22. a society with the bulk of its economic activity in the primary sector
    preindustrial society
  23. defined during the cold war, the Soviet bloc dominated by totalitarian Communist governments
    Second World
  24. a shift in the concentration of activity from an economy's primary sector to its secondary and tertiary sectors
    sectoral evolution
  25. defined during the cold war, the countries characterized by what is seen as underdevelopment, overpopulation, irrationality, religion, and political chaos
    Third World
  26. an enterprise that produces and markets goods in several countries
    transnational corporation
Card Set
Geog ch 12