back ground industry germany

Question 1

Knowledge

Answer 1

The expression patent refers to an intellectual property right, granted for the protection of technical inventions. Patents are granted based on Patent Law. The goal of patents is to stimulate innovation. Hence, the number of patent applications can serve as a characterization of a country‘s innovative power.

Question 2

Work

Answer 2

Amount of labor costs per unit of output. Used as a benchmark of a country‘s cost competitiveness.
𝑈𝑛𝑖𝑡 𝐿𝑎𝑏𝑜𝑟 𝐶𝑜𝑠𝑡𝑠 =
𝑙𝑎𝑏𝑜𝑟 𝑐𝑜𝑠𝑡𝑠 𝑝𝑒𝑟 𝑒𝑚𝑝𝑙𝑜𝑦𝑒𝑒/
𝑃𝑟𝑜𝑑𝑢𝑐𝑡𝑖𝑣𝑖𝑡𝑦 (𝑑𝑒𝑙𝑖𝑣𝑒𝑟𝑒𝑑 𝑒𝑐𝑜𝑛𝑜𝑚𝑖𝑐 𝑜𝑢𝑡𝑝𝑢𝑡 𝑝𝑒𝑟 𝑤𝑜𝑟𝑘𝑒𝑟)

Question 3

Capital

Answer 3

Depicts the cross-border trade of a national economy, by comparing the goods imported and exported to/from other countries. Also refered as Balance of Trade.

Question 4

Three dimensions of production

Answer 4

Technological Intensity
Market Radius
Labor Intensity

Question 5

Technological Intensity

Answer 5

low - high

describes the search and development effort required for (further) development and production of products.

Question 6

Market Radius

Answer 6

regional - global
shows how far a product can be transported from the production site to the customer while remaining economically viable.
The decisive question being if the value of a product is worth the investment of distributing it to the regional market.

Question 7

Labor Intensity

Answer 7

low - high
is the amount of manual labor required in the production or in separate production processes in order to generate a product.
Automatized (parts of) processes have a low labor intensity.

Question 8

technology low
labor low
global

Answer 8

3. automatized mass production

Question 9

high technology
low labor
global

Answer 9

1. high tech export
   strong EBIT xx
   low added value yearly trend X

Question 10

low technolgoy
high labor
global

Answer 10

4. global manufacturer

Question 11

high technology
high labor
global

Answer 11

2. labor intensive export
   no EBIT
   low added value yearly trend X

Question 12

regional
low technology
low labor

Answer 12

7. Regional Primary Material Processing

Question 13

regional
high technology
low labor

Answer 13

5. high tech preparation

Question 14

regional
high technology
high labor

Answer 14

6. labor intensive raw material processing

Question 15

regional
low technology
high labor

Answer 15

8. regional primary material refining

Question 16

EBIT

Answer 16

earnings before interest and taxes (EBIT)

is a measure of a firm’s profit that includes all incomes and expenses (operating and non-operating) except interest expenses and income tax expenses.

Question 17

Global Boomerang

Answer 17

Information and communication fostered globalization of supply chains in the 1990s, now robotics fosters reshoring

Question 18

Robotics has asymmetric effects on the labor market

Answer 18

We believe as well that the negative effects we estimate are both interesting and surprising, because of the small offsetting employment increases in other industries and occupations. […] BCG (2015) has an ‘aggressive’ scenario in which the world stock of industrial robots would quadruple by 2025. In our estimates, that would imply a 0.94-1.76 percentage points lower employment to population ratio, and 1.32.6% lower wage growth between 2015 and 2025. These are sizable effects. But it should also be noted that even under the most aggressive scenario, we are talking about a relatively small fraction of employment in the US economy being affected by robots. There is nothing here to support the view that new technologies will make most jobs disappear and humans largely redundant.

Question 19

production factors definition

Answer 19

describes the inputs used in the production of goods or services in order to make an economic profit.
- include any resource needed for the creation of a good or service. The factors of production include
LAND
LABOR
CAPITAL
ENTERPRENEURSHIP