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UNIT 6 TEST REVIEW

UNIT 6 TEST REVIEW. INDUSTRIALIZATION AND ECONOMIC DEVELOPMENT. INDUSTRIALIZATION. The growth of manufacturing activity in the economy or a region and usually occurs alongside a decrease in the number of primary economic activities. THE INDUSTRIAL REVOLUTION.

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UNIT 6 TEST REVIEW

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  1. UNIT 6 TEST REVIEW INDUSTRIALIZATION AND ECONOMIC DEVELOPMENT

  2. INDUSTRIALIZATION • The growth of manufacturing activity in the economy or a region and usually occurs alongside a decrease in the number of primary economic activities.

  3. THE INDUSTRIAL REVOLUTION • It refers to the greatly increased output of machine-made goods that began in England during the 18th century (1700’s).

  4. ECONOMIC CLASSIFICATIONS

  5. PRIMARY SECTOR • This involves economic activities that revolve around getting raw materials from the earth.

  6. SECONDARY ACTIVITIES • This deals with processing the raw materials acquired through primary activities into finished products of greater value.

  7. TERTIARY ACTIVITIES • These focus on moving, selling, and trading the products made in primary and secondary activities. Tertiary activities also involve professional and financial services.

  8. QUATERNARY ACTIVITIES • This involves information creation and transfer. They assemble, distribute, and process information.

  9. QUINARY ACTIVITIES • This is a subset of quaternary activities. • This involves the highest level of decision making, including high-level government-targeted research.

  10. THEORIES/ MODELS

  11. WEBER’S LEAST COST THEORY • It attempts to predict places where industries will locate based on what would be the lowest cost to them. Hence the name-least cost theory.

  12. ROSTOW’S MODEL • During the 1950’s W.W. Rostow developed a modernization model where countries move through stages of structural change to attain development. • The model includes five stages of development. The MDCs typically are more advanced in the model, usually at stages 4 or 5. While LDCs usually are in stages 1-3.

  13. KEY TERMS

  14. Gross Domestic Product (GDP) • Value of total outputs of goods and services produced in a country, usually over one year.

  15. Maquiladora Zone • Special economic zone on Mexico’s northern border with the United States.

  16. Multinational Corporation (MNC) • As one of the primary agents of globalization, this business has headquarters in one country and production facilities in one or more other countries; sometimes called a transnational corporation.

  17. New International Division of Labor • Division of the manufacturing process across several countries, wherein different pieces of the product are made in different countries, and then the pieces are assembled in yet another country.

  18. North-south Gap • Pattern of development levels in which most most-developed countries exist in the Northern Hemisphere whereas most less-developed countries exist in the Southern Hemisphere.

  19. Outsourcing • An MNC relocating a piece (or all) of its manufacturing operations to factories in other countries.

  20. Ford Production (Fordist) Method • Manufacturing process broken down into differentiated components, with different groups of people performing different tasks to complete the product.

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