Industry and Development Flashcards
The spatial growing of businesses in order to share costs, as when several factories share the cost of building an access road to connect with a public highway
Agglomeration Economies
An item moves from worker to worker with each worker performing the same task repeatedly
Assembly Line
A space that is typically reserved for regular employees of companies, usually not in an area of high value
Back Offices
The possible downsides of growth poles
Backwash Effects
Sites of abandoned factories
Brownfields
Products that are heaviest when finished
Bulk-gaining Industry
When office buildings congregate
Business Park
When both parties have goods or services that the other party desires
Complementarity
Model that divides countries into three types; core, semiperiphery and periphery
Core-Periphery Model
READ ALL Category of the Core Periphery model that includes the economically advantaged areas of the world and the center of world businesses and finances
Core
READ ALL Category of the Core-Periphery model that includes the least developed countries, high percentage of jobs in low-skill, labor intensive production and extraction of raw materials
Periphery
READ ALL Category of the Core-Periphery model that includes the middle-income countries, sometimes known as emerging economies, provides manufactured goods
Semi-periphery
Theory that countries do not exist in isolation but are part of an intertwined world system in which all countries are dependent on each other
Dependency Theory
An industry where the energy demands are so high that factories are built in close proximity to major sources of abundant, cheap power
Energy-Oriented Industry
Physical spaces within a country where special regulations benefit foreign-controlled businesses
Export Processing Zone
A term meaning that businesses can pack up and leave for a new location quickly and easily
Footloose
A system of mass production
Fordism
A location that allows business executives to easily interact with executives from other nearby businesses
Front Offices
Measures the distribution of income within a population
Gini Coefficient
A composite index for measurement of gender disparity, uses indicators such as reproductive health, empowerment, and the labor market participation of women to measure the percentage of potential of human development lost due to gender inequality in different nations
Gender Inequality Index (GII)
Combines one economic measure with several social measures, such as life expectancy and the average education level
Human Development Index (HDI)
The total monetary value, in US dollars, of all the goods, services, and investments produced by a country in a year
Gross National Income (GNI)
The monetary value of ALL goods and services produced in a country in one year
Gross Domestic Product (GDP)
The total monetary value, in US dollars, of all the goods, services, and investments produced by a country in a year
Gross National Product (GNP)
Based on what an amount of money will buy
Purchasing Power Parity (PPP)
Historian who proposed the World Systems Theory in the 1970s
Immanuel Wallerstein
A policy of extending a country’s political and economic power
Imperialism
A set of changes in technology that dramatically increased manufacturing productivity
Industrial Revolution
A system in which the inputs needed in the assembly process arrive at the assembly plant very close to when they are needed
Just-in-time Delivery
Explains the key decisions made by businesses about where to locate factories
Least Cost Theory
The location decision for a factory is dependent upon the location of other factories
Locational Interdependence
A model that shows how the market for a good is at one location and the resources needed to make the good are obtained at two other locations
Location Triangle
The Mexican (Spanish language) name for EPZ (Export Processing Zones)
Maquiladoras
A model that focuses on the shift from traditional to modern forms of society
Modernization Model
A system of employment in the various economic sectors spread throughout the world
New International Division of Labor
Programs enacted by governments and international non-profit agencies
Non-Governmental Organization (NGO)
Companies will locate services in other countries if the costs of doing businesses are lower and worth the risk of moving some operations overseas
Offshoring
Contracting work out to non-company employees or other companies
Outsourcing
Meaning “Per person”
Per Capita
Machines are able to work 24 hours a day without breaks or vacations, and produce consistent, high quality work. Workers who don’t lose their jobs are often trained to do more than one job
Post-Fordism
An era that no longer employs large numbers of people in factories
Postindustrial
Extracting natural resources, dominated the economy until the Civil War
Primary Sector
The knowledge based sector that includes research and development, business consulting, financial services, education, public administration, and software development
Quatenary Sector
Consists of the highest levels of decision-making and includes the top officials in various levels of government and business
Quinary Sector
The region of the United States hit hardest by deindustrialization, the Northeast and lands around the Great Lakes
Rust Belt
Processing natural resources, significant labor growth in 1840s to 1960s
Secondary Sector
Businesses seek to maximize profit by substituting one factor of production for another
Substitution Principle
Providing services rather than working with natural resources, most people in the U.S. labor force today, AKA the service sector
Tertiary Sector
Groups of countries that agree to a common set of trade rules
Trading Bloc (yes that is how it is spelled - Riley)
Companies that operate in more than one country
Transnational Corporation
Theory developed by Immanuel Wallerstein, says that countries do not exist in isolation but are part of an intertwined _____ _____ in which all countries are dependent on each other
World Systems Theory
American economist who developed the modernization model in 1960
W.W. Rostow
Industries where companies try to locate processing plants near the source of raw materials
Bulk-reducing Industry
