Economic Geography Vocab Test

A process involving the clustering or concentrating of people or activities. The term often refers to manufacturing plants and businesses that benefit from close proximity because they share amenities.

• Agglomeration
• Deglomeration

• Infrastructure

• Command Economy

This is the exiting of plants and businesses as they leave the area.

• Deglomeration
• Agglomeration

• Site

• Factors of Production

The actual location of a city.

• Site
• Traditional Economy

• Labor

• Subsistence Economy

The location of manufacturing is determined by minimizing labor and transportation costs, and agglomeration.

• Least Cost Theory
• Post Fordism

• Goods

• Services

Mass production of a product through outsourcing, global “teams,” and piecing products together.

• Post Fordism
• Socialist Economy

• Recession

• Capitalism

A system that combines certain aspects of free enterprise with heavy state regulation.

• Mixed Economy
• GDP

• GNP

• Least Cost Theory

Unreported legal and illegal activities that do not show up in GDP statistics.

• Shadow Economy
• Goods

• Situation

• Subsistence Economy

A service is a transaction in which no physical goods are transferred from the seller to the buyer.

• Services
• Recession

• Tariff

• Labor

An economic system that provides barely enough to keep a society alive.

• Subsistence Economy
• Underground Economy

• Socialist Economy

• Free Enterprise Economy

Economic resources used in the production of goods; the four factors are natural resources, labor, capital, and entrepreneurship.

• Factors of Production
• Capitalism

• Entrepreneur

• Site