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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 and manufacturing that resulted from technological innovations and specialization in late-eighteenth-century Europe |
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Intermodal Connections |
Places where two or more modes of transportation meet (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 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 industrializing countries |
States that underwent industrialization after World War II and whose 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. Ex. 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. Ex. 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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Rust Belt |
The post-industrial region of the Northeast and Midwest, referring to its economic decline, population loss, and 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 U.S. 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 a variety of points on a commodity chain |
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World Trade Organization (WTO) |
Organization of 100+ governments who work to promote freer trade among member states |
