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40 Cards in this Set

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a process of the clustering or concentrating of people or activities. The term often refers to manufacturing plants and businesses that benefit from close proximity because they share skilled-labor pools and technological and financial amenities

assembly line

an efficient manufacturing process in which components are added to a product in a sequential manner using optimally planned logistics, resulting in extremely fast production

basic industry

an industry critical to the health of an area's economy

break-of-bulk point

a location where transfer is possible from one mode of transportation to another

bulk-gaining industry

an industry in which the final product weighs more or comprises a greater volume than the inputs

bulk-reducing industry

an industry in which the final product weighs less or comprises a lower volume than the inputs


the monetary assets that a business possesses

cottage industry

manufacturing based in homes rather than in a factory, commonly found prior to the Industrial Revolution


process by which companies move industrial jobs to other regions with cheaper labor, leaving the new deindustrialized region to switch to a service economy and to work through a period of high unemployment


a process of improvement in the material conditions of people through diffusion of knowledge and technology

economic indicators

development indicators based on a country's economic production (how much it produces, e.g. GDP), what kinds of things it produces (ranging from raw materials to manufactured goods and services), and how it produces (ranging from labor-intensive, subsistence production to capital-intensive, specialized production).

export processing zone (EPZs)

zones established by many countries in the periphery and semi-periphery where they offer favorable tax, regulatory, and trade arrangements to attract foreign trade and investment

footloose industry

a general term for an industry that can be placed and located at any location without effect from facts such as resources or transport


form of mass production in which each worker is assigned one specific task to perform repeatedly

gross national income (GNI)

the total value of goods and services produced per year at home or abroad by domestically-owned interests within a country; formerly called "gross national product"

human development index (HDI)

indicator of level of development for each country, constructed by the United Nations, combining income, literacy, education, and life expectancy

Industrial Revolution

a series of improvements in industrial technology that transformed the process of manufacturing goods


the stock of basic facilities and capital equipment needed for the functioning of a country or area


an industry for which labor costs comprise a high percentage of total expenses

less developed country (LDC)

a country that is at a relatively early stage in the process of economic development

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

location theory

a logical attempt to explain the locational pattern of an economic activity and the manner in which its producing areas are interrelated. The agricultural location theory contained in the von Thunen model is a leading example.

manufacturing region

a region in which manufacturing activities have clustered together

mass production

the production of large quantities of a standardized article (often using assembly line techniques)

more developed country (MDC)

a country that has progressed relatively far along a continuum of development


the entrenchment of the colonial order, such as trade and investment, under a new guise

nonbasic industry

industries that sell their products primarily to consumers in the community


a decision by a corporation to turn over much of the responsibility for production to a third party


adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks

primary sector

the portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing and forestry


the value of a particular product compared to the amount of labor needed to make it

quaternary sector

service sector industries concerned with the collection, processing, and manipulation of information and capital. Examples include finance, administration, insurance, and legal services.

quinary sector

service sector industries that require a high level of specialized knowledge or technical skill. Examples include scientific research or high-level management.

Rostow's Modernization Model

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

site factors

location factors related to the costs of factors of production inside the plant, such as land, labor, and capital

situation factor

location factors related to the transportation of materials to and from a factory

secondary sector

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

subsistence economy

food and craft production primarily to meet consumption needs at the household or community level

sustainable development

development providing for the needs of the present generation without diminishing the options of future generations. Also the name given to the emerging school of thought in the 1990s.

tertiary sector

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