Chapter 11 Flashcards
Agglomeration
Grouping together of many firms from the same industry in a single area for collective or cooperative use of infrastructure and sharing of labor resources
Acid rain
Acid rain is rain that has been made acidic by certain pollutants in the air
Agglomeration economies
Economy in which like things are put together to their benefit all businesses. But bringing all people to one area increases congestion.
Bid rent theory
geographical economic theory that refers to how the price and demand on real estate changes as the distance towards the Central Business District (CBD) increases.
Break-of-bulk point
a location where large shipments of goods are broken up into smaller containers for delivery to local markets
Bulk gaining vs. bulk reducing
An industry in which the final product weighs more or comprises a greater volume than the inputs and an industry in which the final product weighs less or comprises a lower volume than the inputs.
Canadian industrial heartland
SE Ontario
Carrier efficiency
carrier efficiency the ratio of output to input for a given carrier
Comparative advantage
the principle that an area produces the items for which it has the greatest ratio of advantage or the lease ratio of disadvantage in comparison to other areas, assuming free trade exists
Comparative advantage
the ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers
Cottage industry
areas that are popular locations for recreational properties such as cottages or summer homes
Cumulative causation
the spiral buildup of advantages that occurs in specific geographic settings as a result of the development of external economies, agglomeration effects, and localization economies
Debt crisis
a situation in which payments on debt grow so large that countries cannot contine to pay off the debt
Deglomeration
The process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition.
Deindustrialization
loss of industrial activity in a region
Economic sector
in modern economics, there are four main sectors of economic activity: primary, secondary, tetiary, and quatinary
Economies of scale
cost advantages to manufacturers that accrue from high-volume production, since the average cost of production falls with increasing output
Ecotourism
responsible travel that does not harm ecosystems or the well-being of local people
Energy resources
Natural resources that can be converted into energy
Entrepôt
a trading post where merchandise can be imported and exported without paying import duties
Export processing zone
Areas where governments create favorable investment and trading conditions to attract export-oriented industries
Fair trade movement
a trading partnership, based on dialogue, transparency, and respect, that seeks greater equity in international trade
Fixed costs
Costs that do not vary with the quantity of output produced
Footloose industry
industry in which the cost of transporting both raw materials and finished product is not important for the location of firms
Fordism
the manufacturing economy and system derived from assembly-line mass production and the mass consumption of standardized goods
Four tigers
The Four Tigers this refers to the economies of Taiwan, Singapore, Hong Kong, and South Korea
Global warming
a gradual increase in the overall temperature of the earth’s atmosphere generally attributed to the greenhouse effect caused by increased levels of carbon dioxide, chlorofluorocarbons, and other pollutants
Greenhouse effect
the trapping of the sun’s warmth in a planet’s lower atmosphere due to the greater transparency of the atmosphere to visible radiation from the sun than to infrared radiation emitted from the planet’s surface
Growth poles
economic development, economic growth, is not uniform over an entire region, but instead takes place around a specific pole (or cluster)
Heartland/rimland
Nicholas Spykman’s theory that the domination of the coastal fringes of Eurasia would provided the base for world conquest