Chapter 20 reading guide Flashcards
Outsourcing
companies contract work outside of the country to be more efficient with less costs
Offshoring
Moving services out of the country because costs for businesses are lower
New international division of labor
Changing the systems of employment that usually results in more jobs for people
Transnational and Multinational corporations
Businesses that operate in multiple countries
Special economic zones
Provides a lot of job opportunities to one area rather than the whole country
Free trade zones
areas where foreign goods can be imported easily
Post-Fordism
describes the growth of new production methods that are more flexible than the old ones
Agglomeration
The ideas that companies attracts similar businesses to each other
Just-in-time delivery
A method that companies use to reduce extra storage space. This means that the products arrive exactly when needed, but this can be risky because the company can run short on the supplies
High-technology industries
Industries that have cutting edge technology
Growth poles
Areas that have a high concentration of economically developed places (that often contain high-technology industries) that attract more economic development
Economies of scale
More efficient production with more outputs, like using machines instead of human labor
Sustainable development goals
goals designed to help humans end poverty, protect the planet, and ensure peace
mass consumption
a large number of people purchasing large quantities of goods
ecotourism
When tourists pay money to see wildlife in areas that end up funding the protection of them
