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15 Cards in this Set
- Front
- Back
Agglomeration |
Process involving the clustering or concentrating of people/activities. Often refers to the manufacturing plants and businesses that benefit from close proximity because they share skilled labor pools and technological and financial amenities |
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Break-of-bulk theory |
Location along a transport route where goods must be transferred from one carrier to another. In a port, cargoes of ships are unloaded and put on trains and trucks for inland distribution |
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Commodification |
The process through which 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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Deindustrialization |
A phenomenon characterized by a share of total employment falling dramatically in more-developed countries |
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Ecotourism |
A form of tourism, based on the enjoyment of scenic areas or natural wonders, 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 characterized by a set of processes in which the components of goods are made in different places around the globe and then brought together as needed to meet customer demand |
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Fordist |
Highly organized and specialized system or organizing industrial production and labor. Named after automobile producer Henry Ford, Fordist production features 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 whereby 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, benefitting from agglomeration economies, and interacting with surrounding areas spreading wealth from the core to the periphery |