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Chap. 12 Vocab
| Question | Answer |
|---|---|
| agglomeration | the process of clustering or concentrating of people/activities, which often refers to manufacturing plants and business that benefit from close proximity |
| break-of-bulk theory | location along a transport route where goods must be transferred from one carrier together |
| commodification | the process when something is given monetary value |
| commodity theory | the scarcer something is, the more desirable it becomes |
| comparative advantage | the ability to produce a good at a lower opportunity cost than another producer |
| ecotourism | a form of tourism that aims to provide an experience of nature or culture in an environmentally sustainable way |
| flexible production system | a system of industrial production where the components of goods are made in different places around the globe and then brought together as needed to meet consumer demand |
| fordist | highly organized system with an assembly line production of standardized components for mass consumption |
| friction of distance | increase in time and cost that usually comes with increasing distance |
| gender empowerment measure (GEM) | compares the ability of men and women to participate in economic and political decision making |
| gender inequality index (GII) | a measure of the extent of each country's gender inequality |
| global division of labor | phenomenon where corporations and others can draw from labor markets around the world |
| globalization | the expansion of economic, political, and cultural processes to the point that they become global in scale and impact |
| growth pole | a point of economic growth, usually an urban location, benefiting from agglomeration economies and interacting with surrounding areas spreading wealth from the core to the periphery |
| International Monetary Fund (IMF) | organization which gives loans to poor countries |
| industrial revolution | social and economic changes in agriculture and manufacturing because of technological innovations in late-eighteenth-century Europe |
| intermodal connections | places where two or more modes of transportation meet |
| just-in-time delivery | reliably getting products there just before the customer needs them |
| least cost theory | developed by Alfred Weber to explain why manufacturing businesses and their building locate themselves where they do |
| newly industrializing countries | states that underwent industrialization after WWII |
| offshore | outsourced work that is located outside of the country |
| outsourced | to turn over to a third party in part or in total |
| product life cycle | the introduction, growth, maturation, and decline of a product |
| rust belt | the post-industrial region of the Northeast and Midwest referring to its once powerful industrial sector |
| spatial fix | the movement of production from one site to another based on the cost advantages |
| sun belt | the Southwest regions of the US where the climate is warm |
| technopole | centers of high tech research and activity |
| vertical integration | the combination in one company of two or more stages of production normally operated by separate companies. |
| World Trade Organization (WTO) | organization of 100+ governments who work to promote free trade among member states |
| deindustrialization | a share of total employment falling dramatically in more developed countries |
Created by:
a.bby
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