![]() ![]() ![]() Gross National Product (GNP) GDP + income earned by citizens abroad - income earned by foreign workers in the U.S. Gross Domestic Product (GDP) The total value of goods and services produced within the borders of a country during a specific time period, usually one year.Įxample: The United States' GDP decreased by 0.7% recently. , caused by CO2 trapping some radiation emitted by the surface.Įxample: climate change is said to be offset by Greehouse gases, also know as the Greenhouse effect. Foreign Direct Investment (FDI) Investment made by a foreign company in the economy of another country.Įxample: American country taking majority stake in a company in China Greenhouse Effect The anticipated increase on earth's temp. Footloose Industry is a general term for an industry that can be placed and located at any location without affect from factors such as resources or transport.Įxample: Although software companies may not technically fit in the category of heavy industry, they do constitute a footloose industry, as nothing truly has to be shipped Fordist Production A form of mass production in which each worker is assigned one specific task to perform repeatedly.Įxample: being the battery installer at a Samsung factory for your entire 8 hour shift. A port where merchandise can be imported and re-exported without paying import duties.Įxample: the city of Dubai in the UAE Export Processing Zone (EPZ) Areas where governments create favorable investment and trading conditions to attract export-oriented industries.Įxample: Export processing zones are used to attract foreign business. example: the Primary, Secondary and Tertiary Sectors Economies of Scale The Increase in efficiency of production as the number of goods being produced increasesĮxample: Ford Motor Companies Ecotourism A form of tourism to exotic or threatened ecosystems to observe wildlife or to help preserve nature.Įxample: Littering when traveling makes your trip non-ecotourism Entrepôt A big commercial center for importing and exporting commodities. Economic Sectors Three Main Sectors are :Primary, Secondary and Tertiary and it describes the main areas at which people work in the economy Based on the idea that certain types of political and economic relations (especially colonialism) between countries and regions of the world have created arrangements that both control and limit the extent to which regions can developĮxample: Between 19, African Nations received $540 billion in loans from wealthy countries. Deindustrialization process by which companies move industrial jobs to other regions with cheaper labor, leaving the newly deindustrialized region to switch to a service economy and to work through a period of high unemploymentĮxample: Detroit, Michigan Dependency Theory a structuralist theory that offers a critique of the modernization model of development. ![]()
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