CLUSTERING of like businesses for mutual benefit like reducing transportation expenses (competition)
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Deglomeration
The exodus of business from a crowded area or business district of like businesses
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Basic Jobs
Jobs that produce goods that will consumed outside the local community (non-local), brings money into the area
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Non-Basic Jobs
Jobs within and for the local community, these do not bring more money into the area
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Multiplier Effect
The increase in non-basic, local jobs because new basic, non-local jobs. Ex
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Break-of-bulk point
A location where transfer among transportation modes is possible. (aka intermodal; ships, trains, trucks)
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Bulk-Gaining Industry
An industry that makes something that gains volume or weight during production. (Market oriented)
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Bulk-Reducing Industry
An industry in which the inputs weigh more than the final products. (Resource oriented)
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Comparative Advantage
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers
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Complementarity
Two regions through trade that specifically satisfy each other's demands
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Core
The centers of economic, political, and/or cultural power within a given territorial entity. Can be used at local, national, regional or global scale of analysis
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Semi-Periphery
Intermediary regions in terms of the hierarchy of power between core and periphery regions.
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Periphery
The economically and politically least powerful regions and therefore, are often marginalized or under the control of both semi-peripheral and core regions
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Ecotourism
A form of tourism that appeals to the ecologically and socially conscious individuals. Often used by LDCs to spur development
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Fixed Costs
Expenses that do not change in proportion to the activity of a business (taxes, rent)
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Variable Costs
costs that change as output changes (raw materials)
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Footloose
When an industry is neither resource nor market orientated. Can be easily moved.
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Fordism
A highly organized and specialized system for organizing industrial production and labor. (Mass production)
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Post-Fordism
modern industrial production has moved away from mass production in huge factories towards specialized markets based on small flexible manufacturing units often using automation to replace human labor
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Foreign Direct Investment
Investment in the economies of LDC's by transnational corporations based on MDC's
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Friction of Distance
Based on the notion that the time and cost increase with the increase in distance. (NOT the same as distance decay!)
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Gross National Income per capita (GNI)
The value of the output of goods and services produced by a country in a year divided by the number of people that live in the country
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Human Development Index (HDI)
Measures a country's level of development by looking at demographic info based on health, wealth and education
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International/Global Division of Labor
In which some components of products are made in one country and others in another. Brains and decision making in MDCs, low cost labor in LDCs
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Investment Capital
The total amount of money that was endowed into a company by the shareholders, bondholders, and all other interested parties