Globalization, Interdependence, and Sustainability : (Unit 7: Chapter 20) Human Geography a Spatial Perspective AP Edition

any economic activity that uses machinery on a large scale to turn raw materials into finished goods

industry

process that social/economic factors lead to development of industry

industrialization

manufacturing based in homes rather than in a factory, commonly found before the Industrial Revolution.

cottage industry

theory that describes location of factories are associated with where it costs the least. uses factors of transportation costs, labor costs, and degree of agglomeration

least cost theory

who founded least cost theory

Alfred Weber

advantage for companies to locate near each other

agglomeration

where goods are transferred from one type of transport mode to another, where materials are broken down into smaller pieces for cheaper transport

break of bulk points

finished good is lighter than raw materials

bulk reducing industry

finished good is heavier than raw materials

bulk gaining industry

collection of manufacturing facilities

industrial park

cost advantage of producing certain goods/services for trade

comparative advantage

mutually beneficial outcome for countries with different comparative advantages

complementarity

belief that open markets and free trade will lead to economic prosperity

neoliberalism

change with less secondary sector workers, less industrial capacity, and activity

deindustrialization

places of economic growth that occurs from a high growth industry that stimulates growth

growth poles

keeping a minimal inventory to satisfy demand so storage costs are low

just in time delivery

system of manufacturing focused on automation, standardization, economies of scale, and division of labor

fordism

system of manufacturing focused on automation using robotics and computers with low volume manufacturing that can adjust to market conditions

post fordism

outsourcing out the county they are headquartered in

offshore outsourcing

periphery give raw materials, while core give finished goods

international division of labor

opportunities that can come from a change, ie new manufacturing plant opens

multiplier effect

area within a country that is subject to different and more beneficial economic regulations than other areas

special economic zone

sites where manufacturing of exports is done without tariffs

export processing zones

goals of this zone is similar to SEZs and EPZs, but on a much larger scale, ie Hong Kong or Singapore

free trade zones

tourism that doesn't harm the environment

ecotourism

industry that can be anywhere

footloose industry

land use model: market farming/dairy in middle, then forests, then crops, then ranching

von thunen model

theory explains that competition will locate near one another

hotelling's model of spatial competition

part of hotelling's model of spatial competition. best location for consumers however leaves businesses open to competition

socially optimal solution

part of hotelling's model of spatial competition. point where you can't improve your situation

nash equilibrium

center of high tech manufacturing and research

technopoles

The Four Dragons

S Korea, Singapore, Taiwan, Hong Kong