GEOG 304 Flashcards
52 Cards in this Set
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What are services
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Production & consumption of intangible inputs & outputs.
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What are services sold to and consumed by corporations
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Producer services, (Real Estate, Insurance, Finance)
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Why do consumers require more service products today than in the past
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Rising income, demand for health care and education, complex division of labor
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What serves have a particular high income elasticity
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Entertainment, health care, transportation
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What strategy is used to minimize costs to large firms during times of economic downturns and restructuring
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externalization
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3 characteristics of industries in the service sector
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labor intensive nature, lack of unionization, gender composition
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can services be exported (and example)
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yes, offshore banking
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Transport networks are constructed to facilitate the movement of goods & people & information, which is also known as
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spatial interaction
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Example of time space convergence
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The amount of time it takes to travel from Edinburgh, Scotland to London, England has decreased due to advances in transportation technology
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Example of cost space convergence
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The amount it costs to make a phone call from New York City to San Francisco has decreased due to technology advances
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Difference between space shrinking technology & technological changes in the production process
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Space Shrinking Technology: allows more efficiency in the transportation of goods, to deliver them quicker.
Technological Changes in production process: Allows more efficiency in producing goods faster.
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What transportation technologies were tied together by the world's first containerized service
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It combined the ship & truck (container ship)
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How is technological change a "social process"
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Exchange of ideas between individuals
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Relative Distance
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Estimate of distance based on how much time you've traveled
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Absolute Distance
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Estimate of distance using the standard units of length
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Basic sector in cities is ____________ oriented
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export
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Multiplier in a given location is highest when subcontracts of the basic sector are
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export
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Why did retailers move to the suburbs
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That's where the communities are, they moved to where the customers lived
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What begins the process of exurb migration & urban blight
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affluent residents moving to the suburbs
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What does spatial mismatch refer to
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Most of the jobs are in the suburbs. Inner city residents are forced to commute to suburbs or work in staggering industrial areas.
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What activities are found in a global city
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centers of creative innovation
raising and managing of investments
centers of specialized expertise
management, planning for corporations
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How do global cities reflect broader patterns of economic restructuring in the global economy
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big service industries are in clusters in global cities
industrial restructuring (no manufacturing)
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How urbanization drives economic growth
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cities become areas of urban investment
big market area
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What is the "transformation of a non-commodity into a commodity, to assign a monetary value to something that traditionally would not be considered in monetary terms (gender, idea, identity)
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commodification
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Passive consumer
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consumption as an outcome of a production process. Consumers as powerlessness. Consumption as a process through which culture is colonized by economic forces.
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Active consumer
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emphasizes the active role of consumers in utilizing things for their own ends. Consumers actively construct their own identity through their own consumption practices.
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How is the consumption process different than the production process
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We don't often interact with the production process. We always interact with the consumption process.
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How did Fordism represent a system of balance between mass production & mass consumption
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Large scale mass consumption of a limited range of standardized commodities.
Growth of suburbs
Mass markets for standardized goods saturated from 1960's
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After WWII the expansion of consumerism was closely linked to the growth of
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credit
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What is the objective of conspicuous consumption
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show off social status
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What happens to commodities as they pass through various stages of the commodity chain
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The good becomes more complete, things are added to it, it is shipped to it's place of sell, then brought to the consumer
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What has happened to commodity chains as capitalism has globalized
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They have become longer
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According to Michael Porter's Theory of Competitive Economic Advantage, what factor most determines economic success
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productivity growth
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3 reasons why trade specialization causes wealth
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efficiency of tasks
learning by doing
capital subsitution
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Absolue Advantage
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ability of one country to produce a particular good using fewer resources than another country
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Comparative Advantage
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gained when countries focus on exporting goods they can produce at lowest relative cost
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According to comparative advantage, how does trade drive overall economic growth
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Countries specialize in a certain thing. That way there will be more of an even spread of wealth and economic growth
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Prices received for exports relative to prices paid for imports
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terms of trade
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What is one way in which Porter's Theory differs from Ricardo's Theory
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Ricardo never explained why regions specialize in some goods and not others
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What are terms of trade
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relative prices of exports to imports for a country
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As a country becomes wealthier and increase it's real output and efficiency relative to other countries, it imports more goods. What happens to the value of foreign currency as a result of importing goods
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Buy more goods & services from other countries
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According to Porter's Theory of Comparative Advantage, national development strategies should focus on which types of industries
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Higher wage, high productivity
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What are the stages of Rostow's Modernization Theory
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Traditional Society
Preconditions for take off
Take off
Drive to maturity
High mass consumption
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What are investments in human capital
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Education of population
Skills & job training
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Basic idea of the Dependency Theory
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Economics of less developed countries were purposely undeveloped via colonialism & transnational corporations to facilitate the development & expansion of the world's wealthier economies.
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Term that describes "Loosely conceived doctrine that argues for the desirability of a society organized around self regulating markets, & free to the extent possible from social & political intervention"
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Neoliberalism
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Which development strategy theory does the state provide assistance & incentives for manufacturing seeking to serve domestic markets while limiting competition from foreign firms
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Import Substitution Industrialization
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_______ is a trade strategy, now largely discredited, that puts high tariffs on imports as a way to stimulate domestic production of goods
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Import Substitution Industrialization
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________ is industrialization based on the manufacture of products for export
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Export Led Industrialization
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What does GDP per Capita measure?
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Monetary value of final output produced by U.S. businesses, individuals, and govt. inside the U.S. in a given year per person
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What factor does Thomas Malthus, as well as Malthusians believe to be the most important in explaining problems in less developed countries
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High Population Growth
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What is not a characteristic problem of less developed countries
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lack of natural resources
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