AP HUG - Ch. 20 Changing Global Economy and Sustainability

outsourcing

Hiring workers in other countries to do a set of jobs

offshoring

The practice of exporting U.S. jobs to lower paid employees in other nations.

Basic economic activity

main industry in an area; services develop as a result of it

Non-basic economic activity

allows for recirculation of the existing money in an area

Export-processing zones (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

Special economic zones (SEZs)

specific area within a country in which tax incentives and less stringent environmental regulations are implemented to attract foreign business and investment

maquiladoras

Factories in Mexico that assemble imported materials into finished goods for export

Free-trade zones (FTZs)

duty-free and tax-exempt industrial parks for foreign corporations

Post-industrial economy

An economy that de-emphasizes industry, preferring services instead.

Assembly line

Production method that breaks down a complex job into a series of smaller tasks

Fordism

System of standardized mass production attributed to Henry Ford.

Substitution principle

Asserts that an industry will choose to move to access lower labor costs despite higher transportation costs.

post-Fordist

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

Just-in-time delivery

Shipment of parts and materials to arrive at a factory moments before they are needed

Locational interdependence

Theory that industries choose locations based on where their competitors are located.

technopole

A center of high-tech manufacturing and information-based industry.

Spin-off benefits

Positive outcomes in addition to the main outcome

Backwash effects

The negative impacts on a region (or regions) of the economic growth of some other region

brownfields

contaminated industrial or commercial sites that may require environmental cleanup before they can be redeveloped or expanded

Corporate (business) parks

offices where businesses congregate

Sustainable development

Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

Ecological footprint

A measure of how much an individual consumes, expressed in area of land

ecotourism

the practice and business of recreational travel based on concern for the environment

Sustainable Development Goals (SDGs)

Goals resulting from a UN-led effort to end extreme poverty by focusing on 17 key indicators, the top five of which are no poverty, zero hunger, good health, quality education, and gender equality, with key benchmarks for 2030.