Vocabs 5.3 Flashcards
new international division of labor (NIDL)
the shift in global employment patterns that has resulted from neoliberalism
foreign direct investment (FDI)
control of a business in one country by an entity based in another country
multinational corporation (MNC)
company that operates in multiple countries around the world
special economic zone (SEZ)
an area of a country where the economic laws differ from the rest of the country
free trade zone (FTZ)
where raw materials and goods can be transferred without taxation or limits
export processing zone (EPZ)
SEZ specifically set up for manufacturing goods that will be exported
maquiladora
factory in Mexico that assembles goods for export
high technology corridor (technopole)
research, development, and sale of high technology products
corporate park
a place that has multiple businesses architectures such as office bulidings
growth pole
the concentration of high value economic development that attracts even more economic development
deindustrialization
process of social and economic change caused by removal of manufacturing
Rust Belt
Place in the US where there’s a lot of abandoned factories
Fordist method of production
nearly all stages of production process took place in one location
multiplier effect
idea that increase in spending leads to an increase in consumption that is multiple times the original spending
post-Fordist method of production
flexible production, Just-in-time delivery, Outsourcing
flexible production
different components of production of a good occur in different places simultaneously
just-in-time delivery
a system in which raw materials arrive at the factory very close to when they are needed
outsourcing
process of one company hiring another company to be responsible for a certain activity
offshoring
the practice of moving a business process or production to another country
ecological footprint
measures the environmental impact of a person
climate change
the changing of the global climate due to human activity
sustainable development
development that meets the needs of the present without compromising the ability of future generation to meet their own needs
ecotourism
form of tourism that attempts to protect local ecosystems
Sustainable Development Goals
17 goals for the world to achieve by the year 2030
