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Which of these countries has become famous for ecotourism?
“Ecotourism” is a facet of sustainable development that is particularly popular in Costa Rica. The goal of ecotourism is to direct tourists towards threatened and endangered natural regions so as to raise awareness of environmental concerns at the same time as making a profit.
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Which of these levels of economic activity is concerned with the harvesting of raw materials?
The evolution of western economies can be mapped to the growth from primary economic activities to quaternary and quinary economic activities. It is often assumed that this process can be transferred to the developing world, but there have been some notable exceptions that suggest that not all countries will experience the same manner of progression. Primary economic activities are concerned with the harvesting of raw materials - industries like agriculture and mining.
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Which of these levels of economic activity is concerned with the generation and sharing of knowledge and research?
The generation of knowledge and the sharing of research are associated with quaternary economic activities. Examples of this include teaching, tourism, and customer service. As the economies of Europe and North America have transitioned away from primary and secondary economic activities the majority of the population has become employed in quaternary or tertiary economic activities.
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Which of the following choices is best described as an example of a quaternary economic activity?
Quaternary economic activities include anything that has to do with research, teaching, and development. Other examples include computer and information work, consultancy, and scientific inquiry.
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__________ is/are affected by environmental laws, labor availability, and access to markets.
Of the following choices, manufacturing locations is affected by environmental laws (it may not be eco-friendly to manufacture products in certain areas), labor availability (a product should be manufactured in an area where labor is plentiful), and access to markets (a product should be manufactured in an area where it can be marketed and compete with other similar products). GDP and property tax rates are not necessarily impacted by all three factors.
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What was the target year for the United Nations Millennium Development Goals?
Believe it or not the target year for the United Nations Millennium Development Goals was 2015. Seeing as you are reading this in either 2015, or after, you can be fairly confident that the United Nations did not meet its goals of eradicating starvation and poverty, providing universal public education, and combating malaria (as well as several others). But, these dates are often arbitrary and are more meant to serve as motivation than concrete deadlines. Progress has certainly been made in almost all areas of the United Nations Millennium Development Goals since 2000.
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Which of the following regions has a high population density but a low level of economic development?
While India is the second most populous nation in the world, the rate of economic development is much lower compared to nations like the United States (third most populous nation), Japan (tenth most populous nation), and Australia. Nations with high population density tend to be poverty-stricken as well, due to too many people in a given area competing for resources (agricultural, financial, etc).
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Which of these best explains why the 1970s and 1980s were so challenging for workers in the developed world?
In the 1970s and 1980s most of the developed world transitioned from a primarily industrial economy to a service-based economy. This had many benefits for the people of the developed world, such as higher wages and safer working conditions, but also brought with it many difficulties. The demand for unspecialized and factory-based labor declined rapidly and dramatically, as those jobs were transitioned overseas. Many workers were too old, or too deprived of any higher education, to transition smoothly into a new working environment, and unemployment and social unrest were rife throughout the developed world as a result.
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The process of deindustrialization in the developed world has led to a transition into __________.
During the past half-century much of the developed world has experienced a process known as deindustrialization -factories and manufacturing centers have closed down in the United States of America, Western Europe, and Japan and those jobs have been outsourced to the developing world. This has led to the rise of “service-based economies” in the developed world. A “service-based economy” is an economy in which most of the workers are involved in providing services such as research, marketing, telecommunications, innovation, teaching, and so on.
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In which of these regions of the United States have the effects of deindustrialization been felt most extremely?
During the late nineteenth and first half of the twentieth century the industrial center of the United States was the Midwest. Factories in Michigan, Ohio, Illinois, and Pennsylvania accounted for a disproportionate share of American industrial power. When, in the 1970s, American companies began to move their manufacturing centers abroad, the economy of the Midwest suffered dramatically. Unemployment rose very quickly and people began to migrate away from the region in search of work and a sustainable living situation. This has led the region to be called the “Rust Belt,” based on the rusting heavy machinery lying around throughout the Midwest. Cities like Detroit, Flint, Akron, and Toledo have felt this transition particularly extremely.
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The shift in major urban areas moving from an economy based on industry to one based on a service-sector economy is known as __________.
Economic restructuring is a phenomenon that has accelerated in the last part of the twentieth century and into the twenty-first century. Economic restructuring is the process in which economies move from a blue-collar industrial base, especially around heavy industry and factories, into more of a white-collar service sector. This process is typical in most major American cities, which has produced a thinner middle class and more menial jobs.
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In which decade did E-commerce first emerge?
“E-commerce” refers to the use of the internet to sell goods and services that would traditionally have required going to an actual store. It began in the 1990s as the internet exploded into existence all around the developed world. Many prognosticators at the time predicted that E-commerce would completely replace actual stores in a very short space of time, however that has not been the case. Instead we have seen an integration of E-commerce into the existing economy - where some things are bought online and some things are bought in person.
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In the second half of the twentieth century most of the major corporations of the world transitioned their manufacturing centers from __________ to __________.
In the second half of the twentieth century most of the major corporations of the world transitioned their manufacturing centers from the developed world (countries like the United Kingdom, Germany, and the United States of America) to the developing world (countries like India, Mexico, and Brazil). The primary reason behind this is because it is extremely cost effective for the companies- they have access to much cheaper labor and, often, lower tax rates and other benefits. The consequences of this movement are still being felt and understood, but it has involved the transition of the national economies of much of the world.
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What name is given to a company that is comprised of many smaller firms who all specialize in one aspect of the company's product development or sale?
A “conglomerate corporation” is a company that is comprised of many smaller firms who all specialize in various aspects of the company’s product development and sale. So a large corporation might have different firms responsible for harvesting raw materials, manufacturing products for sale, transporting products to different markets, advertising and marketing, and so on. In the twenty-first century almost all major corporations are “conglomerate corporations.”
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What name is given to the process of transferring service-based jobs to other countries?
It has become common in recent years for companies to transfer service-based jobs, particular call centers, to other countries. This is called “outsourcing.” This is generally done because the company knows it can save money by paying the outsourced workers a lower wage to do the same job.
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Which of the following American regions is incorrectly matched with its specialty?
All of the American regions are correctly matched with their regional economic specialties except Hartford. Hartford is a city in Connecticut and has an extremely high concentration of insurance industries. It is not known for tourism.
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In the 1990s, many economists thought that E-commerce was going to eliminate __________.
E-commerce was the name given to any sales-related business conducted over the internet. When it first exploded in the 1990s, many economists expected E-commerce to completely eliminate and replace the business generated by actual in-person shops. These in-person shops are referred to as “brick and mortar businesses.” Instead, E-commerce has become an option available to consumers but not a replacement of traditional brick and mortar businesses.
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All of the following are tertiary economic activities except __________.
Tertiary economic activities are activities in the service sector. Agriculture is a primary economic activity, focusing on use of natural resources.
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In a bulk-reducing industry, the inputs weigh more than the final product. Which of these statements is true about bulk-reducing industries and how they try to offset the costs related to product inputs?
Since the inputs weigh more than the final products, and transportation is generally more expensive for heavier things, the bulk-reducing industries locate themselves near their inputs in order to pay less for the transportation of heavier items.
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Why is longer-distance transportation cheaper per kilometer?
The cost of labor for loading and unloading goods from vehicles is considered a fixed cost, and this fixed cost doesn't change regardless of the distance traveled. Therefore, the longer the distance traveled, the cheaper the cost of transportation per kilometer traveled.
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