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