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20 Cards in this Set
- Front
- Back
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Agglomeration |
In the study of urban geography, an agglomeration is an extended town area consisting of the built-up area of a central place and any suburbs linked by continuous urban area. Ex: The "Denver Metro Area" is an agglomeration of Denver and its surrounding suburban towns. |
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Agglomeration economies |
a localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit from the cost reductions and gains in efficiency that result from this proximity |
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Break-of-Bulk point |
A location where transfer is possible from one mode of transportation to another |
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Comparative advantage |
the ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity. |
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Cumulative causation |
Circular cumulative causation is a theory developed by Swedish economist Gunnar Myrdal in the year 1956. It is a multi-causal approach where the core variables and their linkages are delineated. The idea behind it is that a change in one form of an institution will lead to successive changes in other institutions. |
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Deglomeration |
The act or process of breaking up a mass into fine particles |
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Economies of scale |
a proportionate saving in costs gained by an increased level of production. |
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Entrepot |
a port, city, or other center to which goods are brought for import and export, and for collection and distribution. |
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Ferrous |
Metals, including iron, that are utilized in the production of iron and steel |
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Fixed costs |
business costs, such as rent, that are constant whatever the quantity of goods or services produced. |
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Footloose industry |
Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport. These industries often have spatially fixed costs, which means that the costs of the products do not change despite where the product is assembled. |
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Growth poles |
the concentration of highly innovative and technically advanced industries that stimulate economic development in linked businesses and industries. ... These concentrations of industries often affected the economies of geographical areas outside their immediate regions. |
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Infrastructure |
the basic physical and organizational structures and facilities (e.g. buildings, roads, power supplies) needed for the operation of a society or enterprise. |
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Nonferrous |
Metals utalized to make products primarily to customers in the community |
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Market orientation |
A business approach or philosophy that focuses on identifying and meeting the stated or hidden needs or wants of customers. See also product orientation and sales orientation. |
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Multiplier effect |
a phenomenon whereby a given change in a particular input, such as government spending, causes a larger change in an output, such as gross domestic product. |
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Resource orientation |
resource orientation, the position of substances in the environment useful and economicallyfeasible and socially acceptable to use. |
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Special export zone (SEZ) |
A special economic zone (SEZ) is an area in which the business and trade laws are different from the rest of the country. ... The creation of special economic zones by the host country may be motivated by the desire to attract foreign direct investment (FDI). |
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Variable costs |
a cost that varies with the level of output. |
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World cities |
a cosmopolitan city, with resident and visiting foreigners. |
