Chapter 12 Flashcards

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1
Q

agglomeration economics

A

cost savings resulting from location near other firms

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2
Q

basic industry

A

an industry producing goods or services for sale to other regions

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3
Q

break of bulk

A

the stage of transportation when a bulk shipment is broken into smaller lots and or different modes of transportation

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4
Q

capital goods

A

goods used to produce other goods

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5
Q

cost minimization

A

an industrial location strategy that seeks to minimize what the firm pays to produce and distribute its products or services

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6
Q

division of labor

A

the specialization of workers in particular tasks and different stages of production process

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7
Q

economic base model

A

a demand driven model in which exports to other regions drive regional development

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8
Q

economies of scale

A

lower production costs as a result of larger volume of production

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9
Q

externalities

A

effects that extend beyond any single company. External economies of scale, for instance are cost savings due to a larger volume of production in the region as a whole rather than a large volume within any one company

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10
Q

industrial economy

A

the dominant mode of production and consumption of the late 19th and early 20th centuries, emphasizing large domestic corporations engaged in food processing, heavy equipment manufacturing and energy products

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11
Q

labor productivity

A

amount produced per worker per hour

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12
Q

localization economies

A

savings resulting from local specialization in a specific industry

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13
Q

maquiladora

A

export assembly plant in Mexico that relies on cheap labor to assemble imported components that are re-exported as finished goods

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14
Q

market oriented

A

the tendency for an industry to locate near population centers in order to save on transport costs, which usually occurred when the final product is more expensive to transport than the raw material

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15
Q

Nonbasic industry

A

an industry producing goods or services for sale within the local region

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16
Q

post industrial economy

A

the emerging mode of production and consumption of the late 20th and early 21st centuries featuring huge transnational corporations and localized agglomerations that produce and or utilize information technology and telecommunications with greater employment in tertiary and quaternary services

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17
Q

primary activity

A

an economic activity that direct extracts or harvest resources from the earth

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18
Q

producer services

A

services provided by businesses to other businesses. also known as business services

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19
Q

quaternary activity

A

highly skilled information based services

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20
Q

raw material oriented

A

the tendency for an industry to locate near the source of raw materials in order save on transport costs, which usually occurs the raw materials lose weight in the production process

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21
Q

regional multiplyer

A

a numerical relationship showing the number of total jobs created for each new basic job in a region

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22
Q

secondary activity

A

an economic activity that transforms raw materials into useable products adding value in the process

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23
Q

services

A

tasks done for consumers or businesses for a fee

24
Q

spatial division of labor

A

the specialization of different regions in different stages of the production processes

25
Q

technological spillover

A

leakage of technical knowhow to other peopled firms usually located within close proximity

26
Q

tertiary activity

A

an economic activity that links the primary and secondary sectors to the consumers and other businesses wither by selling good directly or by performing services utilizing those goods

27
Q

transaction costs

A

the unseen costs of doing businesses the cost required for gathering information about, negotiating, and enforcing contracts in the exchange of a product or a service

28
Q

ubiquitous

A

available nearly everywhere

29
Q

urbanization economies

A

savings resulting from location in or near urban areas that have a large and diverse labor pool, large markets, developed infrastructure, and availability of a wide variety of goods and services

30
Q

technopole

A

an area planned for high technology where agglomeration built on synergy among technological companies occur

31
Q

primate cities

A

population of these cities is much larger than all other cities within the country

32
Q

situtation

A

relative location, place in the region and the world around it

33
Q

site

A

the actual location of the urban center

34
Q

modern city

A

large size, high density, social heterogeneity, legally incorporated, urbanized area

35
Q

world cities

A

cities closely integrated into the global economic system

36
Q

command and control center

A

headquarters of many large corp, well developed banking, concentrations of other business services

37
Q

specialized product service centers

A

narrow and highly specialized variety of serviced

38
Q

dependent centers

A

resort, retirement, mining, military

39
Q

industrial revolution

A

the term applied to the social and economic changes in agriculture, commerce and manufacturing that resulted from technological innovations and specialization in late-eighteenth-century Europe.

40
Q

location theory

A

a logical attempt to explain the locational pattern of an economic activity and the manner in which its producing areas are interrelated. The von Thunen model is a leading example.

41
Q

variable costs

A

costs that change directly with the amount of production (e.g. energy supply and labor costs).

42
Q

least cost theory

A

Model developed by Alfred Weber according to which the location of the manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration.

43
Q

deglomeration

A

the process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition.

44
Q

Fordist

A

A highly organized and specialized system for organizing industrial production and labor. Named after automobile producer Henry Ford, this type of production features assembly-line production of standardized components for mass consumption.

45
Q

just-in-time delivery

A

Method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production, planning that what they need for longer-term production will arrive when needed.

46
Q

intermodal connections

A

Places where two or more modes of transportation meet (including air, road, rail, barge, and ship).

47
Q

deindustrialization

A

Process by which companies move industrial jobs to other regions with cheaper labor, leaving the region to switch to a service economy and to work through a period of high unemployment.

48
Q

offshore

A

With reference to production, to outsource to a third party located outside of the country.

49
Q

Sunbelt

A

The South and Southwest regions of the United States

50
Q

distance decay

A

The effects of distance on interaction, generally the greater the distance the less interaction.

51
Q

locational interdependence

A

theory developed by economist Harold Hotelling that suggests competitors, in trying to maximize sales, will seek to constrain each other’s territory as much as possible which will therefore lead them to locate adjacent to one another in the middle of their collective customer base

52
Q

primary industrial regions

A

Western and Central Europe; Eastern North America; Russia and Ukraine; and Eastern Asia, each of which consists of one or more core areas of industrial development with subsidiary clusters

53
Q

post-fordist

A

world economic system characterized by a more flexible set of production practices in which goods are not mass-produced; instead, production has been accelerated and dispersed around the globe by multinational companies that shift production, outsourcing it around the world and bringing places closer together in time and space than would have been imaginable at the beginning of the twentieth century

54
Q

global division of labor

A

phenomenon whereby corporations and others can draw from labor markets around the world, made possible by the compression of time and space through innovation in communication and transportation systems

55
Q

outsourced

A

with reference to production, to turn over in part or in total to a third party

56
Q

friction of distance

A

the increase in time and cost that usually comes with increasing distance