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Chapter 12 Vocabular
Words and definitions for the 33 vocabulary words in Chapter 12.
| Term | Definition |
|---|---|
| Cottage Industries | Goods made generally by hand or with low technology within a home or small workshop. |
| Economies of Scale | Savings in production cost which stem from increased production of a good. |
| Industrial Revolution | The cluster of inventions and innovations which had brought large-scale economic changes in agriculture, commerce and manufacturing in Europe, during the late 18th century. |
| Hinterland | Economic production areas which are located inland and connected to the outside via a port. |
| Situation | Position of a place in relation to its surrounding environment or context. |
| Network | Interconnected nodes which lack a center. |
| First Mover Advantage | The benefits earned by a product or service by being first to market. |
| Secondary Hearths | An area where a innovation or idea diffuses to, and then it is diffused more broadly from there. |
| Globalization | Set of processes which heighten interaction, increase interdependence, and deepen relationships across the borders of different countries. |
| Fordist | A system of manufacturing in which raw materials are brought to a location and its components along with the final product are produced at the same location, then globally shipped. |
| Vertical Integration | The merging of business that serve different steps in one commodity chain. |
| Location Theory | Understanding of the distribution of cities, industry, services, or consumers with the intention of explaining why places are chosen as sites of production or consumption. |
| Agglomeration | Cost advantages which arise from businesses with similarities cluster in the same location. |
| Least Cost Theory | Determination of the location for manufacturing based on minimizing 3 important expenses: labor, transportation, and agglomeration. |
| Friction of Distance | The difficulty in time and cost associated with increasing distance. |
| Intermodal | A point where 2 or more modes of transportation meet. |
| Capitalism | Economic system where people, corporations, and states produce their own good and services and sell to the world market with the intention of getting a profit. |
| Commodification | The transition of goods and services into products which can be bought, sold, or traded. |
| Global Division of Labor | Understanding of the distribution of cities, industry, services, or consumers with the intention of explaining why places are chosen as sites of production or consumption. |
| Time-space Compression | Increasing levels of connectedness between world cities caused by improvements in communication and transport networks. |
| Just-in-time Delivery | Production system in which parts are delivered as needed to the respective assembly line, so that they are not warehoused, stored, or overproduced. |
| Spatial Fix | The movement of production from one site to another for cost advantages of the new site, based on place. |
| Node | A connection point within a network, where goods and ideas flow in and out through the network. |
| Commodity Chain | Steps in the production of a good, from its design and raw materials to its production, marketing, and distribution. |
| Outsourcing | Hiring employees outside the home country of a company. in order to reduce the cost of labor for their goods and services. |
| Connectivity | The position of a place or area in relation to other places in its respective network. |
| Global Sourcing | The tapping into of companies that specialize in production globally to manufacture goods. |
| Global Production Networks | The pattern of flow from raw material to global product to dispersal or reuse of products. Shows all the places connected by production. |
| Newly Industrializing Countries (NIC) | States that are experiencing growth in industrial or service economies and increasing prescence in global trade. |
| Break of Bulk Point | Place where goods and transferred from one mode of transportation to the other. |
| Deindustrialization | Decline in industry in a region or economy. Caused by companies move industry to other regions, or mechanize production. |
| Rust Belt | A region of the northeast portion of the United States which was once a prominent manufacturing region turned to a deindustrialized region. |
| High-Technology Corridor | Areas along or near major transportation corridors that are devoted to the research, development, and sale of high-technology products. |
Created by:
Lucas Booher
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