Unit 7 - Additional Vocab.

Question 1

Footloose industry

Answer 1

Industry that locate in a wide variety of places without a significant change in its cost of transportation, land, labor, and capital

Question 2

Maquiladora

Answer 2

Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico

Question 3

Non-Government Organization (NGO)

Answer 3

Different organizations that play a major role in international development, with the priority to promote economic development, humanitarian ideas, and sustainable development

Question 4

Purchasing Power Parity (PPP)

Answer 4

Measurement tool of calculating exchange rates so that each currency buys an equal amount of goods as every other currency

Question 5

Right-to-work laws

Answer 5

A state law forbidding requirements that workers must join a union to hold their jobss

Question 6

Substitution principle

Answer 6

In industry, the tendency to substitute one factor of production for another in order to achieve optimum plant location

Question 7

Technopoles

Answer 7

Area planned for high technology where agglomeration built on a synergy among technological companies occurs