All Flashcards
What is the effect of high transportation costs on industrial location?
Industries tend to locate closer to raw materials or markets to minimize these costs.
What is the effect of agglomeration on business?
Increased efficiency, productivity, and innovation due to shared resources and knowledge.
What is the effect of outsourcing on core regions?
Job losses and economic restructuring as tasks are shifted to lower-cost locations.
What is the effect of offshoring on newly industrialized countries?
Job growth, economic development, and increased foreign investment.
What is the effect of special economic zones on local economies?
Increased economic activity, foreign investment, and job creation.
What is the effect of JIT delivery on inventory management?
Minimized inventory levels, reduced storage costs, and increased efficiency.
What is the effect of Post-Fordist production on product variety?
Increased product variety and customization to meet diverse consumer demands.
What is the effect of economies of scale on pricing?
Lower average costs, allowing for more competitive pricing.
What is the effect of relaxed regulations in SEZs on environmental standards?
Potentially lower environmental standards, leading to environmental degradation.
What is the effect of lower labor costs on industrial location?
Industries are attracted to regions with lower labor costs to minimize production expenses.
Compare Outsourcing and Offshoring.
Outsourcing: hiring a third party; Offshoring: moving production to another country. Both can lead to job shifts.
Compare Fordist and Post-Fordist Production.
Fordist: Mass production, standardized goods; Post-Fordist: Flexible, customized production, advanced tech.
Compare the economies of NICs and New Asian Tigers.
NICs: Newly industrializing, growing manufacturing; New Asian Tigers: Highly developed, advanced economies.
Compare the impact of locating in a developed country vs. a NIC for manufacturing.
Developed: Higher labor costs, stricter regulations; NIC: Lower labor costs, more relaxed regulations.
Compare the focus of Weber's Least Cost Theory and Growth Pole theory.
Weber's: minimizing costs for individual firms; Growth Pole: stimulating regional economic growth.
Compare the benefits of agglomeration for small businesses vs. large corporations.
Small: Access to resources and networks; Large: Economies of scale and market dominance.
Compare the role of transportation costs in Weber's theory for bulk-reducing vs. bulk-gaining industries.
Bulk-reducing: Locate near raw materials; Bulk-gaining: Locate near markets.
Compare the environmental regulations in developed countries vs. Special Economic Zones.
Developed: Stricter environmental regulations; SEZs: Often more relaxed regulations.
Compare the labor force characteristics in core vs. periphery regions.
Core: Skilled, higher-paid labor; Periphery: Lower-skilled, lower-paid labor.
Compare the goals of JIT delivery and maintaining large inventories.
JIT: Minimize inventory, reduce waste; Large inventories: Ensure supply, buffer against disruptions.
What is Agglomeration?
Clustering of businesses in a specific area.
What are Growth Poles?
Centers of economic activity designed to stimulate growth.
What is Just-In-Time (JIT) Delivery?
Delivering goods and materials just when needed in production.
What is Post-Fordist Production?
Flexible, customized production methods, moving away from mass production.
What are Economies of Scale?
Cost advantages achieved by increasing production scale.
What is Outsourcing?
Hiring a third party to perform tasks.
What is Offshoring?
Moving production to another country.
What are Special Economic Zones (SEZs)?
Designated areas with special economic regulations to attract investment.
What are NICs?
Newly Industrialized Countries (e.g., BRIC SAM).
What are New Asian Tigers?
Hong Kong, South Korea, Taiwan, and Singapore – highly developed economies due to manufacturing.