Industrial and Economic Development

The process of deindustrialization in a region

The grouping of activities for mutual benefit

The shift from mass production to customized production

The control of a country by a more powerful outside force

Mass production of standardized goods

Centralized decision-making

Flexible and customized production

Large-scale inventory storage

Market economies prioritize agriculture, while command economies focus on industry.

Market economies are driven by supply and demand, while command economies are controlled by the government.

Market economies encourage international trade, while command economies are self-sufficient.

Market economies emphasize sustainable development, while command economies prioritize rapid growth.

They primarily focus on domestic markets and have limited involvement in international trade.

They facilitate global trade by operating in multiple countries and coordinating production and distribution networks.

They primarily engage in fair trade practices and promote sustainable development in developing countries.

They are primarily responsible for enforcing international trade regulations and resolving trade disputes.

Access to international markets

Availability of natural resources and transportation infrastructure

Government subsidies and tax breaks

A highly educated workforce

A country imposing tariffs on imported goods to protect its domestic industries

A multinational corporation exploiting resources in a developing country while exerting political influence

A country providing foreign aid to another country to improve its infrastructure

A country engaging in free trade agreements with other countries

Increased employment opportunities and improved living standards

Transfer of technology and expertise

Exploitation of labor and resources, environmental degradation, and increased economic inequality

Promotion of sustainable development practices and fair trade

Post-Fordist production relies on mass production, while Fordist production emphasizes customization.

Post-Fordist production utilizes just-in-time delivery, while Fordist production relies on large-scale inventory storage.

Post-Fordist production is centralized, while Fordist production is decentralized.

Post-Fordist production is labor-intensive, while Fordist production is capital-intensive.

Market Economy

Command Economy

Traditional Economy

Mixed Economy

Increased resource depletion

Cheaper and more available goods

Decreased global trade

Reduced urbanization