Fair trade - a movement that encourages multi-national corporations to pay living wages to workers in LDCs instead of the lowest possible wage, Industrialization - the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of good, break-of-bulk point - a place where cargo is unloaded from one form of transportation and pieces of it are sent out in different directions to other forms, bulk-gaining industry - Industry that makes something that gains volume or weight during production, bulk-reducing industry - industry that makes something that loses volume or weight during production, Least cost theory - Alfred Weber's theory that tries to explain and predict the locational pattern of industry, core - in World's Systems Analysis, the core are the powerful, wealthy countries that have great influence on the world economy, Periphery - in World's Systems Analysis, the periphery are the least economically developed countries that have little influence over the world's economy, Semiperiphery - in World's Systems Analysis, the semi-periphery is the more-wealthy LDCs that have some influence on world economies, Gender Inequality Index (GII) - a statistic created by the United Nations to measure how much development is lost because of inequalities between men and women, Dependency theory - the idea that MDCs have become wealthy at the expense of LDCs, Microloans - a small sum of money lent at low interest to a new business, Commodity dependence - when a country's economy is reliant on a single product, Comparative advantage - the ability of a group to carry out an economic activity more effieciently than another economic activity, Agglomeration - the benefits that companies experience due to being clumped closely together, Just-in-time delivery - a strategy for maintaining just the right amount of inventory so as to not have to pay for storage, Sustainable development - economic development that is conducted without depletion of natural resources at rapid rates, Ecotourism - tourism directed toward natural environments (often threatened) intended to support conservation efforts, Multiplier Effects - an increase in spending produces an increase in national income and consumption greater than the initial amount spent, Maquiladora - a factory in Mexico owned by a foreign company that only creates products to export to other countries, Free trade zone - regions in LDCs where tariffs are waived by governments wanting to encourage MNCs to invest in their countries, World Trade Organization (WTO) - an economic supranational organization that deals with trade rules between countries and settling trade disputes,

Unit 6 Vocab

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