14 Questions
What does the field of study of a Contemporary Economic Geographer entail?
Study of the spatial patterns and processes that shape economic activities and their impact on the environment and society.
What is the significance of Purchasing Power Parity (PPP) in comparing economies globally?
PPP adjusts for differences in the cost of living between countries, enabling more accurate comparisons of economies.
How did the emergence of flexible manufacturing change the industry from its Fordist origins?
Flexible manufacturing introduced more adaptable and specialized production, replacing Fordist mass production and deskilling of labor.
What are the limitations of Gross Domestic Product (GDP) as a measure of a country's wealth?
GDP does not account for income inequality, environmental degradation, and unpaid work, providing an incomplete picture of a country's wealth.
What are the key factors that contributed to de-industrialization in the manufacturing sector?
Globalization, automation, and changes in consumer demand led to de-industrialization and job losses.
What are the fundamental differences between the fields of Economics and Economic Geography?
Economics focuses on economic systems and markets, while Economic Geography examines the spatial patterns and processes of economic activities.
What are the key characteristics of Subsistence, Commercial, and Planned economies?
Subsistence economies focus on self-sufficiency, Commercial economies prioritize profit, and Planned economies are state-controlled.
What is the significance of trademarking in wealth creation?
Trademarking protects intellectual property, enabling companies to secure their brand identities and generate revenue.
What are the main differences in the transportation of goods compared to people?
The transportation of goods requires different modes of transportation, infrastructure, and logistics compared to the transportation of people, which prioritizes safety and comfort.
How has human transition contributed to the development of the modern day world?
Human transitions, such as the shift from agricultural to industrial and then service-based economies, have driven economic growth, urbanization, and technological advancements, shaping the modern world.
What are the main categories of economic activity?
The main categories of economic activity are primary, secondary, and tertiary, which refer to the extraction, manufacturing, and service sectors of the economy, respectively.
What is the significance of Purchasing Power Parity (PPP) in comparing economies globally?
PPP is a method that adjusts for differences in the cost of living between countries, allowing for more accurate comparisons of economic output and wealth.
What are the key characteristics of Corporate Farming as a model of agricultural production?
Corporate Farming is characterized by large-scale industrial production, vertically integrated operations, heavy reliance on technology, and profit-driven decision-making.
What are the limitations of GDP and GNP as measures of a country's wealth?
GDP and GNP have limitations, such as not accounting for income inequality, environmental degradation, and informal economies, which can lead to an incomplete picture of a country's economic well-being.
Study Notes
Exam Questions and Topics
- Past test questions for GEOV211: Economic and Development Geography
- Topics include Contemporary Economic Geography, comparing economies globally, flexible manufacturing, and more
Economic Geography
- Defined as a sub-discipline that studies economic systems and activities within a geographic context
- Examines the spatial organization of economic activities and their relationships with the environment and society
Comparing Economies Globally
- Difficulties include differences in economic systems, institutions, and cultural contexts
- Purchasing Power Parity (PPP) is a method used to compare economies globally by adjusting for price differences
Flexible Manufacturing
- Emerged as a response to Fordist mass production methods
- Characterized by flexibility, adaptability, and customization in production processes
Economic Systems
- Three types typically found in the late 20th Century: Subsistence, Commercial, and Planned economies
- Each type has unique characteristics and features
Gross Domestic Product (GDP) and Gross National Product (GNP)
- Both are measures of a country's wealth, but have limitations and drawbacks
- GDP measures domestic production, while GNP measures national income
De-industrialization
- A process of decline in manufacturing industries, leading to job losses
- Factors contributing to de-industrialization include globalization, technological change, and shifts to service-based economies
Renewable and Non-Renewable Resources
- Renewable resources can be replenished naturally, while non-renewable resources are finite
- Examples of renewable resources include solar, wind, and hydro power
Economic Development
- Development needs to happen sustainably, considering environmental and social impacts
- Trademarking is important for wealth creation, as it protects intellectual property and promotes innovation
This quiz covers the differences in transporting goods versus people and explores the historical relationship between development processes and human transitions. It delves into the various transitions in society and their contributions to modern society.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
