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15 Cards in this Set
- Front
- Back
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IMF (international monetary fund) |
Organization which gives loans to poor countries |
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Industrial revolution |
Social and economic changes in agriculture, commerce in manufacturing that resulted from technological innovations in specialization in late 18th century Europe. |
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Intermodal connections |
Places where two or more modes of transportation me (including air, Road, rail, barge, and ship) |
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Just in time delivery |
Method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near term production. |
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Least cost theory |
Model developed by all Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration |
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Newly industrialized countries (NIC) |
States that underwent industrialization after World War II and who’s economies have grown at a rapid pace. |
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Offshore |
With reference to production, to outsource to a third-party located outside of the country. Example: Ford motor company‘s car parts being made in Mexico |
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Outsourced |
With reference to production, to turn over to a third-party in part or in total. Example: outsource call center service jobs to India |
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Product life cycle |
The introduction, growth, maturation, and decline of a product. |
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Rustbelt |
The post industrial region of the Northeast and Midwest, referring to its economic decline, population loss, an urban decay due to the shrinking of its once powerful industrial sector. |
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Spatial fix |
The movement of production from one site to another based on the place-based cost advantages of the new site |
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Sun belt |
The south and southwest regions of the US where the climate is warm. |
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Technopole |
Centers or nodes of high-tech research and activity around the high technology corridor. |
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Vertical integration |
Ownership by the same firm of a number of companies that exist along the variety of points on a commodity chain |
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World trade organization (WTO) |
Organization of 100+ government to work to promote for your trade among member states. |
