7.7-7.8 Flashcards
Contracting work to non company employees or other companies
Outsourcing
When companies move their back companies to other countries
Offshoring
returning jobs to the busniess’s home country
Reshoring
A changed system of employment in various economic sectors throughout the world
New international division of labor
Actions that create new wealth for a region
ex. manufacturing goods+commercial farms
Basic economic activities/City-forming activities
Actions that dont generate new money for an area
ex. grocery stores
Non-basic economic activity
Businesses that operate in multiple countries
Transnational corporations(TNC’s)/Multinational corporations(MNC’s)
Special manufacturing zones that attract TNC’s and MNC’s
Export processing zones(EPZs)
The name for export processing zones in china; designated areas in a country that have different businesses and trade laws, on costal cities to attract foreign trade
Special manufacturing zones(SEZs)
The name for export processing zones in Mexico. This is the second largest source of income, after petroleum.
Manquiladoras
The name for export processing zones in Singapore. Located in places where foreign companies can store goods without additional taxes.
Free trade zones(FTZs)
Economys that no longer employ large numbers of people in factories but have people who provide services and process information
Postindustrial economys
An invention in which an item is moves from worker to worker, with each repeatedly performing the same task
assembly line
A system of mass production that changed manufacturing and became standard practices across industries
Fordism
When businesses maximize profit by substituting one factor if production for another
ex. machines instead of people
Substitution principle
A system where workers are trained to do more than one job, which reduces the risk of injury
Post-fordism
A system in which the inputs in the assembly process arrive at the assembly location when they are needed
Just-in-time delivery
When the location decision for one factory is dependent upon the location of other related factories
Locational interdependence
When businesses locate in proximity to similar businesses to reduce costs
Agglomeration economies
A hub for information-based industry and high tech manufacturing
Technopoles
When the concentration of high-value economic development attracts more development. Often the result of technopoles
Growth poles/Growth centers
Positive economic outcomes beyond the growth pole
Spin-of-benefits(spread effect)
Negative effects of one region that results from economic growth in another region
Backwash effects
Sites of abandoned factories
Brownfields
