unit 3 vocab quiz 4 Flashcards
when goods are produced and delivered only as they are needed in the production process
just in time delivery
when companies hire outside firms or workers, often in other countries, to do tasks that could be done internally, to save money and improve efficiency.
outsourcing
when an initial investment or spending leads to more economic growth and additional jobs in the area
multiplier effects
when a region or country reduces its industrial activity, leading to a decline in manufacturing jobs and factory closures.
deindustrialization
aims to ensure that producers in developing countries get fair prices for their goods, promoting better working conditions and sustainable practices
fair trade movement
areas dedicated to high-tech industries and innovation, often with clusters of research institutions, businesses, and technology companies
technopoles
specific locations where economic activities are concentrated, leading to regional development and economic growth in surrounding areas
growth poles
nations that are transitioning from primarily agricultural economies to ones based on manufacturing and industrial activity, showing rapid economic growth
newly industrialized countries
four highly developed economies that experienced rapid industrialization and economic growth from the 1960s to the 1990s.
asian tigers (hong kong, singapore, south korea, taiwan)
designated areas within a country where business and trade laws differ from the rest of the country to attract foreign investments and boost economic activity
special economic zones
factories in Mexico, typically near the U.S. border, where imported materials are assembled into products for export, often benefiting from tax advantages and lower labor costs
maquiladoras
the global distribution of production processes, where different stages of manufacturing and services are carried out in various countries based on their comparative advantages, such as labor costs or resource availability.
international division of labor
the practice of meeting current needs without compromising the ability of future generations to meet their own needs
sustainable development
the long-term alteration of temperature and typical weather patterns in a place, often caused by human activities like burning fossil fuels and deforestation
climate change
a form of tourism focused on visiting natural areas, promoting conservation, and minimizing environmental impact while supporting local communities
ecotourism
