Essential Economic and Geographic Terminology
Classified in Geography
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Key Concepts in Economics, Trade, and Tourism
Terciarización (Tertiarization)
This is the process by which the tertiary sector (services) of the economy gains weight relative to the primary and secondary sectors, becoming the main economic driver in terms of both population employment and contribution to Gross Domestic Product (GDP).
Welfare State
Based on the theories of Keynes, particularly implemented in Europe after World War II, the Welfare State involves the intervention of the government to ensure that the entire population, without exception, receives at least two basic social services: health and education.
Transport and Intermodal Systems
Transport is the activity dedicated to moving people and goods between geographical locations.