Unit 7 Vocabulary

the changes that occur as a country transitions from an agricultural economy to industry-based economy with rising living standards

• development

• industrialization

• standard of living

• least cost theory

the process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods

• development

• industrialization

• standard of living

• least cost theory

level of wealth available to a person or community

• development

• industrialization

• standard of living

• least cost theory

a place where cargo is unloaded from one form of transportation and pieces of it are sent out in different directions to other forms

• break-of-bulk point

• bulk-gaining industry

• bulk-reducing industry

• market

Industry that makes something that gains volume or weight during production

• break-of-bulk point

• bulk-gaining industry

• bulk-reducing industry

• market

industry that makes something that loses volume or weight during production

• break-of-bulk point

• bulk-gaining industry

• bulk-reducing industry

• market

a place where goods are sold (non-physical markets have expanded greatly since the Internet became mainstream)

• core

• bulk-gaining industry

• bulk-reducing industry

• market

in World's Systems Analysis, the core are the powerful, wealthy countries that have great influence on the world economy

• core

• periphery

• semi-periphery

• market

in World's Systems Analysis, the periphery are the least economically developed countries that have little influence over the world's economy

• core

• periphery

• semi-periphery

• market

in World's Systems Analysis, the semi-periphery is the more-wealthy LDCs that have some influence on world economies

• core

• periphery

• semi-periphery

• market