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Multiplier effect: Describes the expansion of an area’s economic base as a result of the basic and non-basic industries located there. Variable cost: A cost that changes based on the level of output that a business produces.An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent. For example, if a corporation builds a factory, it will employ workers and their suppliers, as well as those who work in the factory.Substitution Principle. maintains that the correct location of a production facility is where the net profit is the greatest. Therefore in industry, there is a tendency to substitute one factor of production (e.g., labor) for another (e.g., capital for automated equipment) in order to achieve optimum plant location.
What is the multiplier effect AP Human Geography example?
An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent. For example, if a corporation builds a factory, it will employ workers and their suppliers, as well as those who work in the factory.
What is substitution principle in AP Human Geography?
Substitution Principle. maintains that the correct location of a production facility is where the net profit is the greatest. Therefore in industry, there is a tendency to substitute one factor of production (e.g., labor) for another (e.g., capital for automated equipment) in order to achieve optimum plant location.
The International Division Of Labor A New Economy [AP Human Geography Unit 7 Topic 7] (7.7)
Images related to the topicThe International Division Of Labor A New Economy [AP Human Geography Unit 7 Topic 7] (7.7)
What is comparative advantage Human Geography?
Comparative Advantage – an economic concept related to Free Trade that says a country should specialize in certain products for export when they hold an advantage in producing those products, and import other products in which they do not have an advantage as compared to other countries.
What is Weber’s least cost theory APHG?
Weber’s Least Cost Theory attempts to describe and predict the location of manufacturing industries based on three factors: transportation costs, labor cost, and the benefit of agglomeration (clustering with similar, interdependent businesses).
Is it better to have a higher or lower multiplier effect and why?
With a high multiplier, any change in aggregate demand will tend to be substantially magnified, and so the economy will be more unstable. With a low multiplier, by contrast, changes in aggregate demand will not be multiplied much, so the economy will tend to be more stable.
Who was von thunen AP Human Geography?
The agrarian revolution that accompanied the industrial revolution caught the eye of a German economist-farmer named Johann Heinrich von Thünen. He owned a large farming estate near the German city of Rostock, and for more than 40 years, he kept precise records of his estate’s transactions.
What is neocolonialism AP Human Geography?
Neocolonialism. Definition:control by a powerful country of its former colonies (or other less developed countries) by economic pressures.
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Free AP Human Geography Flashcards about … – StudyStack
Human Geo Unit 7 ; multiplier effect, is the idea that an initial amount of spending (usually by the government)leads to increased consumption spending and so …
AP Human Geography Unit 7 Vocabulary Flashcards | Quizlet
Start studying AP Human Geography Unit 7 Vocabulary. … multiplier effect. An effect in economics in which an increase in spending produces an increase in …
What is the multiplier effect in AP Human Geography?
The multiplier effect refers to the proportional amount of increase, or decrease, in final income that results from an injection, …
Unit 6: Industry – Ms. Silvius’s AP Human Geography
This leads to parts manufacturers needing to locate near auto assembly plants, for example. … Multiplier effect – because there is a circular flow of money in …
What is offshoring AP Human Geography?
offshoring. The practice of exporting U.S. jobs to lower paid employees in other nations.
What is the Rust Belt AP Human Geography?
Rust Belt. The northern industrial states of the United States, including Ohio, Michigan, and Pennsylvania, in which heavy industry was once the dominant economic activity.
What is absolute advantage Human Geography?
Absolute Advantage. a country can produce particular goods at a lower cost in comparison to another country.
What is absolute advantage and comparative advantage?
Absolute Advantage: The ability of an actor to produce more of a good or service than a competitor. Comparative Advantage: The ability of an actor to produce a good or service for a lower opportunity cost than a competitor.
What is an example of a comparative advantage?
Comparative advantage is what you do best while also giving up the least. For example, if you’re a great plumber and a great babysitter, your comparative advantage is plumbing.
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What is spillover effect ap human geography?
Spillover Effect. An economic event in one context that occur because of something else in a seemingly unrelated context. For example, externalities of economic activity are non-monetary effects upon non-participants.
What is Weber’s cost theory?
Theory was created to determine the location of manufacturing plants. The location could be different based on if the final product weighed more or less than the raw materials. According to the theory, plants will be located to maximize profits and minimize costs.
What is an example of the least cost theory?
A company that could be an example of the least cost theory is the google industry because they are located in a place with agglomeration,causing a lot of customers to emerge.
What is a multiplier effect in geography?
Multiplier Effect: the ‘snowballing’ of economic activity. e.g. If new jobs are created, people who take them have money to spend in the shops, which means that more shop workers are needed.
How do you explain the multiplier effect?
The multiplier effect is the proportional amount of increase or decrease in final income that results from an injection or withdrawal of spending.
What is meant by multiplier effect?
Definition of multiplier effect
An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent.
What does von Thünen’s model explain?
The Von Thünen model is a predictive theory in human geography that predicts humans will use land in relation to the cost of land and the cost of transporting products to market. Human geography, a fairly new subject in relation to the Von Thünen Model, examines how humans interact in real, physical space.
What are the two main characteristics of the Von thunen model?
The main assumption of Von Thunen’s model is that agricultural land use is formed as concentric circles around the central market; the latter consumes all the surplus production, which must be transported from the rural areas to the market.
What did von Thünen believe decisions about agricultural production were based on?
von Thunen hypothesized that land use variations exist because of differential transportation costs. However, farmers don’t usually grow their produce at the market site. It has to be moved or transported there. This distinction means transportation costs will have an effect on Locational rent.
What is an example of neocolonialism AP Human Geography?
Whilst Algeria accounts for a little over one-percent of French trade (making it relatively insignificant to France), France accounts for a quarter of Algerian trade (making it extremely significant to Algeria). This form of economic control over a former colony is known as “Neo-colonialism.”
AP Human Geography: Everything You Need To Know! (Units 1-7 Summarized)
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What is the difference between colonialism and neocolonialism?
Colonialism is different from neocolonialism because colonialism involves direct control over a territory and its people while neocolonialism involves indirect methods to control a territory and its indigenous people. Colonialism is a form of direct control over a territory and its people by an external power.
What are the effects of neocolonialism?
Through neocolonialism, the more technologically advanced nations ensure their involvement with low income nations, such that this relationship practically annihilates the potential for the development of the smaller states and contributes to the capital gain of the technologically advanced nations (Parenti 2011, 24).
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