Economic Development Key Terms

  • Created by: annanolan
  • Created on: 05-01-17 19:14
Development
the use of resources and the application of available technology to improve the standard of living in this country
1 of 35
Environmental impact assessment
a document required by law in many countries, detailing all the impacts on the environment of a project above a certain size
2 of 35
Quality of life
This sums up all the factors that affect a persons general well being and happiness (economic, physical, social and psychological)
3 of 35
Sustainable development
development that meets the needs of the present without harming the ability of future generations to meet their own needs
4 of 35
North-South divide
the simple division between MEDCs (mainly in the north) and LEDCs (mainly in the south)
5 of 35
International aid
the giving of resources from one country or organisation to another poorer country. The primary objective is to improve the economy and quality of life in the poorer country
6 of 35
Appropriate technology
aid supplied by a donor country whereby the level of technology and the skills required to service it are properly suited to the conditions in the receiving country
7 of 35
Product chain
the full sequence of activities needed to turn raw materials into a finished product
8 of 35
Foreign direct investment
overseas investments in physical capital by MNCs
9 of 35
Multinational companies (MNCs)
firms that produce goods in more than one country (e.g. Macdonalds)
10 of 35
Subsistence farming
the most basic form of agriculture where the produce is consumed entirely or mainly by the family who work the land or tend to the livestock.
11 of 35
Outsourcing
where a company contracts out some of its work to another company. This is usually because the company can save money. However, it can also happen if a company lacks certain skills
12 of 35
Extensive farming
when one type of farming and large farms dominate a very large area. Inputs per hectare are low compared with intensive farming, such as market gardening
13 of 35
Optimum location
the location that best satisfies the objectives of a company. For most, this will be the maximum profit location
14 of 35
Global city
major world city supplying financial, business and other significant services to all parts of the world
15 of 35
Back offices
offices of a company handling high-volume communications by telephone, electronic transaction or letter.
16 of 35
High-technology cluster
where high tech companies group together in a region because their location factors are similar and such companies benefit from being in close proximity
17 of 35
Cumulative causation
the process whereby a significant increase in economic growth can lead to even more growth as more money circulates in the economy
18 of 35
Economic core region
the most highly developed region in a country with advanced systems of infrastructure and high levels of investment, resulting in high average income
19 of 35
Periphery
the parts of a country outside the economic core region. The level of economic development in the periphery is significantly below that of the core
20 of 35
Globalisation
the increasing interconnectedness and interdependence of the world economically, culturally and politically
21 of 35
New international division of labour (NIDL)
this divides production into different skills and tasks that are spread across regions and countries rather than within a single company
22 of 35
Deindustrialisation
the long term absolute decline of employment in manufacturing
23 of 35
Dependant
when an area is reliant on one company for the majority of its employment
24 of 35
Economies of scale
a situation in which an increase in the scale at which a business operates will lead to a reduction in the average costs of production
25 of 35
Reindustrialisation
the establishment of new industries in a country or region that has experienced considerable decline of traditional industries
26 of 35
Niche markets
small markets that deal in a specialised product
27 of 35
Global civil society
international groups, associations and movements that are not controlled by the state government
28 of 35
Acid rain
rainwater containing sulphuric acid, nitric acid and compounds of ammonia. These pollutants have been pumped into the atmosphere by manufacturing industry and vehicle emissions
29 of 35
Carbon footprint
the effect human activities have on the climate in terms of the total amount of greenhouse gas production
30 of 35
Greenhouse effect
the property of the Earth's atmosphere by which long wavelength heat rays from the Earth's surface are trapped or reflected back by the atmosphere
31 of 35
Thermal expansion
as sea and ocean temperatures increase, the water molecules near the surface expand and the sea level rises
32 of 35
Biofuels
any fuel derived from renewable biological sources such as animal waste or plants
33 of 35
community energy
energy produced close to the point of consumption
34 of 35
Low-carbon economy
a country where significant measures have been taken to reduce carbon emissions in all sectors of the economy
35 of 35

Other cards in this set

Card 2

Front

Environmental impact assessment

Back

a document required by law in many countries, detailing all the impacts on the environment of a project above a certain size

Card 3

Front

Quality of life

Back

Preview of the front of card 3

Card 4

Front

Sustainable development

Back

Preview of the front of card 4

Card 5

Front

North-South divide

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Geography resources:

See all Geography resources »See all Development resources »