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Geography: Economic Geography

memorize.ai (lvl 286)

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30 cards

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Section 1

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goods

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Geography

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Last updated

6 years ago

Date created

Mar 1, 2020

Cards (30)

Section 1

(30 cards)

goods

Front

Items purchased to satisfy needs and wants.

Back

globalization

Front

Actions or processes that involve the entire world and result in making something worldwide in scope.

Back

capital intensive

Front

An economic activity that requires lots of capital, or investment money with which to buy big machines.

Back

domestic

Front

related to your home country

Back

manufacturing and processing

Front

The economic activity of turning raw materials like cotton and trees into finished products tshirts and furniture.

Back

multinational corporation

Front

Large businesses that have various parts of their company in different parts of the world.

Back

services

Front

Actions or activities that one person performs for another.

Back

economy

Front

the process or system by which goods and services are produced, sold, and bought in a country or region

Back

informational technology

Front

The use of technology to move and process information.

Back

foreign

Front

related to a country other than your own

Back

textiles

Front

industry that uses cloth like making clothes, sheets, blankets, curtains, etc. It was one of the first industries to industrialize and very labor intensive.

Back

secondary economic activity

Front

The part of the economy that deals with manufacturing: turning raw materials like cotton into products like a tshirt.

Back

economic interdependence

Front

A condition in which countries have strong economic ties and depend on each other for resources, technology, trade, and investment.

Back

outsourcing/offshoring

Front

the sending away of jobs to another country to be done more cheaply.

Back

import

Front

Bringing (goods or services) into a country from abroad for sale.

Back

sweatshops

Front

Factories in poor countries (LDCs) with low wages, long hours, and sometimes terrible working conditions.

Back

market

Front

Any kind of arrangement where buyers and sellers of a particular good, service, or resource are linked together to carry out an exchange.

Back

labor intensive

Front

An economic activity that requires a lot of workers.

Back

export

Front

A good or service produced in the home country and sold in another country.

Back

more developed countries (MDC)

Front

rich country

Back

international trade

Front

Exchanging goods and services between countries.

Back

tertiary economic activity

Front

The part of the economy that deals with basic services like retail, accounting, education, low-level government jobs, etc.

Back

subsidies

Front

government money to certain industries to help them stay in business or to keep prices on a good or service low

Back

quinary economic activity

Front

The decision-makers of an economy: this can include high-level administrations in companies and governmental organizations.

Back

free trade

Front

international exchange of goods and services with limited tariffs (taxes)

Back

tariffs

Front

taxes on imported or exported goods and services.

Back

less developed countries (LDC)

Front

poor country

Back

quaternary economic activity

Front

The part of the economy that deals with high-level information-based services that require high expertise in research and development: for example, biomedical services, cutting edge technologies, aerospace, etc.

Back

primary economic activity

Front

The part of the economy that works with materials from the earth such as mining, fishing, forestry, and especially agriculture.

Back

international division of labor

Front

the new worldwide manufacturing system where goods and services are designed and managed in wealthier countries, produced in poorer countries for cheaper and shipped all over the world using container ships.

Back