Glossary
Break-of-Bulk Points
Locations where goods are transferred from one mode of transportation to another, facilitating efficient movement over long distances.
Example:
A bustling port city where cargo ships unload containers onto trains and trucks is a prime example of a Break-of-Bulk Point.
Commodity Chains
The entire process of a product's life, from the extraction of raw materials through manufacturing, distribution, marketing, and final sale to the consumer.
Example:
The journey of a coffee bean from a farm in Colombia, through processing and shipping, to your morning cup illustrates a complex Commodity Chain.
Core Countries
Highly industrialized and economically advanced nations that exert significant influence and dominance within the global economy.
Example:
The United States, with its advanced technology and financial markets, is considered a Core Country in the world system.
Deindustrialization
The decline in a country's industrial or manufacturing sector, often leading to job losses and factory closures.
Example:
The 'Rust Belt' region in the United States experienced significant Deindustrialization as many steel and automobile factories closed down.
Periphery
Less industrialized and economically developed countries that are often dependent on core countries for trade and investment.
Example:
Many nations in Sub-Saharan Africa, primarily exporting raw materials and lacking significant industrialization, are considered Periphery countries.
Primary Production
The economic sector involved in the extraction of raw materials directly from the earth, such as farming, mining, fishing, and forestry.
Example:
A farmer harvesting wheat from their fields is engaged in Primary Production, providing the raw material for bread.
Quaternary Production
The economic sector centered on the creation and distribution of knowledge and information, including research and development, IT, and consulting.
Example:
A software engineer developing a new mobile application is contributing to Quaternary Production.
Quinary Production
The highest level of economic activity involving high-level decision-making and policy-making, typically found in government administration and top management.
Example:
A CEO making strategic decisions for a multinational corporation operates within the realm of Quinary Production.
Secondary Production
The economic sector focused on processing raw materials into finished goods through manufacturing and construction.
Example:
A factory transforming raw cotton into wearable clothing is an example of Secondary Production.
Semi-Periphery
Countries that exhibit characteristics of both core and periphery nations, possessing some industrialization but less global influence than core countries.
Example:
Brazil, with its growing industrial base and emerging global presence, is often categorized as a Semi-Periphery country.
Tertiary Production
The economic sector that provides services rather than physical goods, encompassing activities like healthcare, education, finance, and retail.
Example:
When you visit a doctor for a check-up, you are utilizing a service provided by the Tertiary Production sector.