GEO 101 Study Guide - Final Guide: Gross National Happiness, Gross National Income, Gross Domestic Product
9 May 2016
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Document Summary
Economic development is the processes of change involving the nature and composition of the economy of a particular region. Economy is wealth and resources of a country or region, particularly in terms of production and consumption of goods. We can evaluate and define what is good and bad. Because places differ from one another it is uneven. Industrial revolution: technological innovations lead to core, peripheral and semi periphery. Significance: large scale production->needed more space->needed more resources->kept expanding. Ability to fulfill needs relates to significance of place. Periphery- don"t produce, can"t afford to buy. Some places may have the resources but not the technology to use them. Some places have resources due to luck and political stability. Carrying capacity: refers to the number of people that can be sustained by the land. Periphery countries tend to overuse land, which eventually makes it unuseable. Gdp(gross domestic product): total value of everything the country makes. Gni(gross national income): how much profit is made.
