| A | B |
|---|
| 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 |
| Ancillary activities | Economic activities that surround and support large-scale industries such a shipping and food service. |
| Backwash effect | The negative effects on one region that result from economic growth within another region. |
| Brick and Mortar business | Traditional businesses with actual stores in which trade or retail occurs; it does not exist solely on the internet |
| Conglomerate corporation | A firm that is comprised of many smaller firms that serve several different functions. |
| Core | National or global regions where economic power, in terms of wealth, innovation, and advanced technology is concentrated. |
| 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. |
| Deglomeration | The dispersal of an industry that formerly existed in an estbalished agglomeration. |
| Deindustrialization | loss of industrial activity in a region. |
| E-Commerce | Web based economic activities |
| Economic backwaters | Regions tht fail to gain from national economic development. |
| Export-processing zone | Areas where governments create favorable investment and trading conditions to attract export-oriented industries. |
| Fast World | Areas of the world, usually the economic core, that experience greater levels of connection due to high-speed telecommunications and transportation technologies. |
| Footloose firms | manufacturing activities in which cost of transporting both raw materials and finished porduct is not important for determining the location of the firm. |
| Fordism | System of standardized mass production attrributed to Henry Ford. |
| Foreign Investment | Overseas business investments made by private companies. |
| Gross Domestic Product | The total value of goods and services produced within the borders of a country during a specific period, usually one year. |
| Gross National Product | The total value of goods and services, uncluding income received from abroad, produced by the residents of acountry within a specific time period, usually one year. |
| Industrial Revolution | The rpid economic and social changes in manufacturing that resulted after the introductio of the factory system to the textile industry in England at the end of the 18th cenutry. |
| Industrialization | Process of industrial development in which countries evole economically, from producing basic, primary goods to using modern factories for mass-producing goods. At the highest levels of development, national economis are geared mainly toward the delivery of services and exchange of information. |
| Industrialized countries | Those countries including BRitain, France, the united states, Russia, Germany, and Japan, that were all of the forefront of industrial productionand innovation through the middle of the 10th 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. |
| Least-Cost Theory | A concept developed by Alfred Weber to describe the optimal location of a manufacturing establishment in relatio to the costs of transport and labor, and the relative advantages of agglomeration or deglomeration. |
| 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 caita incomes, and generally low standards of living. |
| Manufacturing Region | A region in which manufacturing activities have been clustered together. The major U.S. industrial region has historically been in the Great Lakes which includes the states of Michigan, Illinois, Indiana, Ohio, New York, and Pennsylvania. Industrial regions also exist in southeastern Brazil, central England, around Tokyo, Japan, and elsewhere. |
| Maquiladoras | Those U.S. firms that have factories just outside the United States/Mexican border in areas that hve been specially designated by the Mexican government. In such areas, factories cheaply assemble goods for export back into the United Sates. |
| 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. |
| Offshore financial center | Areas that have been speically designed to promote business transactions, and thus have become centers for banking and finance. |
| Primary Economic Activites | Economic activites in which natural resources are made available for use or further processing, including mining, agriculture, forestry, and fishing. |
| Productivity | A measure of the goods and services produced within a particular country. |
| Purchasing Power Party | A monetary measurment of development that takes into account what money buys in different countries. |
| Rostow's Stages of Development | A model of economic development that describes a country's progression which occurs in five stages transforming them from least-developed to most-developed countries. |
| Rust Belt | The manufacturing region in the United States that is currently debilitated because many manufacturing firms have relocated to countries offering cheaper labor and relaxed environmental regulations. |
| Secondary economic activities | Economic activities concerned with the processing of raw materials such as manufacturing, construction, and power generation. |
| Semi-periphery | Those newly industrialized countries with median standards of living, such as Chile, Brazil, India, China, and Indonesia. Semi-Peripheral countries offer their citizens relatively diverse economic opportunites but also have xtreme gaps between rich and poor. |
| Service-based economies | Highly developed economies that focus on research and development, marketing, tourism, sales, and telecommunications. |
| Specialty goods | Goods that are not mass-produced but rather assembled individually or in small quantities. |
| Tertiary economic activities | Activities that provide the marjet exchange of goods, and that bring together consumers and providers of services such as retail, transportation, government, personal, and professional services. |
| World-systems theory | Theory developed by Immanuel Wallerstein that explains the emergence of a core, periphery, and semi-periphery in terms of economic and political connections first established at the beginning of exploration in the late 15th century and maintained through increased economic acess up until the present. |
