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