1. Unit 6: Economic Geography

2. Day 1: Developing vs. Developed
GDP: The value of the total output of goods and services produced in a country in a year
Human Development Index: Indicator of level of development for each country that combines income, literacy, education and life expectancy
Less Developed Countries (LDC): A country that is at a relatively early stage in the process of economic development
Life Expectancy: the average number of years an individual can be expected to live based on a country’s development
Literacy Rate: the percentage of a country’s people who can read or write
More Developed Countries (MDC): a country that is in the later stage in the process of economic development
Per Capita GDP: approximately how much a person in a country would make in a year calculated by dividing the GDP by the population
Day 1: Developing vs. Developed

3. Primary Sector: portion of the economy in which raw materials are extracted from the earth
Secondary Sector: portion of the economy where raw materials are turned into useful products like manufacturing, processing, or assembling raw materials
Tertiary Sector: portion of the economy concerned with transportation, communication, utilities, and services in exchange for payment.
Day 2: Economic Sectors

4. Day 3: Resources

5. Day 4: Economic Distribution
Scale: A geographical concept that takes into consideration the size of an area being studied (i.e. local, regional, national, international)
Site: physical characteristics of a place (climate, topography, vegetation etc.)
Situation: location of a place on Earth relative to other places
Day 4: Economic Distribution

6. Megacities: A city with a population of 1 million or more
Metropolitan Areas: A major population center made up of a large city and the smaller suburbs and towns that surround it
Rural: relating to the country or undeveloped area of land
Suburb: A developed area at the edge of a city that is mainly homes and many also have stores and businesses.
Urban Core: The older part of a big city; often the serves as the downtown or central business district of a city
Urban Sprawl: The rapid, often poorly planned spread of development from an urban area outward into rural areas
Urbanization: the growth of areas into cities
Day 5: Urbanization

7. Gentrification: process of converting an urban neighborhood from a mostly low income renter occupied area to a mostly middle class owner occupied area
Squatter Settlement: area within a city in an LDC where people establish residences on land they do not own or rent
Day 6: Urbanization

8. Day 7: Black Market Trade
Black Market: the buying and selling of goods in violation of legal rules & controls
Cartels: often informal international association formed to regulate prices and output in a certain product or business (like drugs etc).
Counterfeiting: creating something to be passed off fraudulently as something genuine
Drug Trade: the trade of illegal drugs usually involving a supplying country and a demanding country
Human Trafficking: the illegal practice of trading human beings for the purpose of exploitation like prostitution or forced labor
Day 7: Black Market Trade

9. Day 8: Black Market Trade
OPEC (Organization of Petroleum Exporting Countries): A group of oil producing countries who control the price and supply of oil around the world.
World Trade Organization (WTO): an organization that works to negotiate rules of trade among member states
Day 8: Black Market Trade

10. Capitalism: economic system where investment and ownership is held by private companies and the market determines prices
Communism: economic system where investment and ownership is held by the government and the government determines prices
Micro-Entrepreneur: a business person in an LDC who applies for a small loan in order to grow a business
Day 9: Miscellaneous