Aphg

Front 1

International Division of Labor

Back 1

Transfer of some types of jobs, especially those requiring low paid, less skilled workers, from more developed countries to less developed countries.
Ex: Factories moving from US to Mexico

Front 2

Just in Time production

Back 2

only request for the amount of materials when it is asked for(good:limit space of factory)

Front 3

Labor Intensive

Back 3

requiring a large expenditure of labor but not much capital; Ex: cottage industries are labor intensive

Front 4

Least Cost location

Back 4

Model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization three critical expenses: labor, transportation, and agglomeration

Front 5

LDC/MDC

Back 5

lesser developed countries ex: Somalia /more developed country Ex: Spain

Front 6

Manufacturing export zones

Back 6

industrial arrangement of machines, equipment, and workers for continuous flow of work pieces in mass production operations, each movement of material is made as simple and short as possible
- Important because it allowed for goods to be produced at a rate comparable to the demand for many of those products, made for more efficient manufacturing industries.

Front 7

Maquiladora

Back 7

A maquiladora or maquila is a factory in Latin America that imports materials and equipment on a duty-free and tariff-free basis for assembly or manufacturing and then re-exports the assembled product, usually back to the originating country.

Front 8

Market orientation

Back 8

The tendency of an economic activity to locate close to its market; a reflection of large and variable distribution costs
(they build sports stadiums where the most people will attend games)

Front 9

Multinational corporation

Back 9

An organization that manufactures and markets products in many different countries and has multinational stock ownership and multinational management
Ex: Coca Cola

Front 10

Multiplier effect

Back 10

new basic sector employment is accompanied by a larger share of nonbasic workers, decreasing the ratio of basic sector workers to nonbasic

Front 11

Neo-colonialism

Back 11

refers to the economic control that MDCs are sometimes believed to have over LDCs. Through organizations such as the IMF, the MDCs are able to dictate precisely what LDCs economic policies are, or are able to use their economic subsidies to put LDCs industries out of business.

Front 12

Outsourcing

Back 12

The physical separation of some economic activities from the main production facility, usually for the purpose of employing cheaper labor.
Ex: Soccer balls sewn in LDCs

Front 13

Peripheral region

Back 13

The least powerful regions and therefore are often marginalized or under the control of both semi-peripheral regions and core regions.
Ex: Mezzogiorno region in southern Italy

Front 14

Postindustrial

Back 14

A period in which the importance of manufacturing lessens in a society but services and research grows.
Ex: When MDCs went from providing manufactured goods to services

Front 15

Primary sector

Back 15

The portion of the economy concerned with the direct extraction of materials from Earth's surface,Ex: agriculture, mining, fishing, and forestry industry

Front 16

Purchasing Power Parity

Back 16

What a state's dollar can actually buy compared to another state's dollar; what a country is able to buy.

Front 17

Stages of Growth (model)

Back 17

linear theory of development that developed countries go through a common pattern of structural change (1-Traditional Society, 2-Transitional Stage, 3-Take Off, 4-Drive to Maturity, 5-High Mass Consumption)
- Important because it explains the development experience of Western countries and is a general model for many others.

Front 18

Secondary sector

Back 18

The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.

Front 19

Semi-peripheral region

Back 19

intermediary regions in terms of the hierarchy of power between core and peripheral regions. Ex: Mexico

Front 20

Specialized Economic Zones (SEZ)

Back 20

Designated areas in countries that possess special economic regulations that are different from other areas in the same country. Moreover, these regulations tend to contain measures that are conducive to foreign direct investment. Conducting business in a SEZ usually means that a company will receive tax incentives and the opportunity to pay lower tariffs.

Front 21

Substitution principle

Back 21

Principle that maintains that the correct location of a production facility is where the net profit is the greatest. Therefore in industry, there is a tendency to substitute one factor of production for another in order to achieve optimum plant location. EX capital for automated equipment

Front 22

Technology gap

Back 22

The difference in technologies used and/or developed in two companies, countries, ethnic groups, etc., where one is more advanced than the other.
EX: Cellphones in Malawi vs. Japan

Front 23

Technology transfer

Back 23

The diffusion to or acquisition by one culture or retention of the technology possessed by another, usually more developed, society.
Ex: Diffusion of the telegraph

Front 24

Technopole

Back 24

Centers or nodes of high-technology research and activity around which a high-technology corridor is sometimes established. Ex: Silicon Valley

Front 25

Tertiary sector

Back 25

The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

Front 26

Threshold/Range – Central Place Theory

Back 26

The population required to make provision of services economically feasible./In economic geography and central place theory, the minimum market needed to support the supply of a product or service

Front 27

Time-space compression

Back 27

as capitalism has developed, the pace of life has become faster and faster. The age-old barriers to action have been broken down so the world 'sometimes seems to collapse in on us

Front 28

Time-space convergence

Back 28

exposure to different world ideas through globalization draw boundaries between groups.

Front 29

Transnational corporation

Back 29

A company that conducts research, operates factories, and sells products in many countries. Ex: Apple

Front 30

Ubiquitous

Back 30

appearing to be present in large numbers or in many different places

Front 31

Underdeveloped country

Back 31

A country with a low stage of development. Ex: Zimbabwe

Front 32

Value added

Back 32

The gross value of the product minus the costs of raw materials and energy.

Front 33

Variable costs

Back 33

Costs that vary or change. Ex. spacially variable costs change depending on the location of an industrial activity.

Front 34

World cities

Back 34

an important node point in the global economic system. Ex: New York!