Geography Final

• Factors of production


  • Natural resources or raw materials
  • Human resources or labor
  • Capital resources or capital (money, tools, vendors, etc.)
• World Bank classification


  • Less Developed Country (LDC)
  • Moderately Developed Country (MDC)
  • Highly Developed Country (HDC)
• Gross National Product (GNP or GDP)


  GDP is composed of goods and services produced for sale in the market and also includes some nonmarket production, such as defense or education services provided by the government. An alternative concept, gross national product, or GNP, counts all the output of the residents of a country.
• Classification of Economic Activity

  • Primary activities – Mining – Agriculture – Fishing
  • Secondary activities – Manufacturing – Construction – Energy production
  • Tertiary activities – Retail trade – Professional services
  • Quaternary Activities •Research •Management and administration
  • Quinary – Executives
• Political Geography


  The study of the interaction of geographical area and political process
• Nation


  A group of people who speak a single language, have a common history, and share the same cultural background
• State


  A politically organized territory that is administered by a sovereign government and is recognized by a significant portion of the international community
• Nation-State


  Population possesses a substantial degree of cultural homogeneity and unity
• Nations without States


  • Kurds, Gypsies/Romani
• Sovereign State


  Nonphysical, juridical entity with: Geographic Area, Centralized government, Permanent population, Defined territory, Infrastructure
• Enclave


  A territory that is completely surrounded by the territory of one other state
• Exclave


  A portion of territory of one state completely surrounded by territory of another or others, as viewed by the home territory
• Cultural Conflicts


  The conflict of behavior patterns and values that results when different cultures are incompletely assimilated
• Balkanization


  The fragmentation of a region into smaller, often hostile, political units
• Devolution


  The process whereby regions within a state demand and gain political strength and growing autonomy at the expense of the central government
• Annexation


  Joining forces (positive) or forcible acquisition of a state's territory by another state (negative)
• Centripetal Force


  Forces from within a State that unite it
• Centrifugal Force


  Forces from within a State that tend to divide it
• Irredentism


  A policy of cultural extension and potential political expansion aimed at a national group living in a neighboring country
• Cold War


  The post World War II animosity between the United States and the USSR
• Buffer Zone


  An area of land that serves as a barrier
• Shatterbelt


  A zone of chronic political splintering and fracturing
• The Wealth of Nations was written in 1776
• In classical economic theory, the word 'rational' means that economic agents are able to consider the outcome of their choices and recognise the net benefits of each one. Rational agents will select the choice which presents the highest benefits
• Consumers act rationally by


  Maximising their utility
• Producers act rationally by


  Selling goods/services in a way that maximises their profits
• Workers act rationally by


  Balancing welfare at work with consideration of both pay and benefits
• Governments act rationally by


  Placing the interests of the people they serve first in order to maximise their welfare
• Rationality in classical economic theory is a flawed assumption as people usually don't act rationally
• A firm increases advertising


  Demand curve shifts right
• Demand curve shifting right


  Increases the equilibrium price and quantity
• Marginal utility


  The additional utility (satisfaction) gained from the consumption of an additional product
• If you add up marginal utility for each unit you get total utility
• GEOG 1700: World Regional Geography
• Patterns (Factors) of Economic Development
• The Schengen Agreement was signed on June 14, 1985, there is free travel within part of Europe — known as the Schengen area — for all citizens and residents of all 27 member states; however, non-citizens may only do so for tourism purpose, and for up to three months
• Southeast Asia is a FRAGMENTED REALM OF NUMEROUS ISLAND COUNTRIES AND PENINSULAS
• Southeast Asia EXHIBITS CHARACTERISTICS OF A SHATTERBELT
• Southeast Asia has POLITICAL INSTABILITY AND CONFLICT
• Southeast Asia has CLUSTERED POPULATION PATTERNS