Unit 7 AP

Complementarity

Two places trade because each has what the other needs

Cottage industry

Goods made at home, not in factories

Deindustrialization

Loss of factory jobs in a region

EPZ

Zones with low taxes to boost economy

Footloose industry

Can locate anywhere, not location dependent

Fordist Production

Mass production with assembly lines

Interdependence

Countries rely on each other

Labor intensive industry

Needs lots of workers

Least Cost Theory

Industries locate to minimize costs

Multiplier effect

new jobs create more jobs

Outsourcing

jobs moved to another country

Post-fordist production

flexibe, small-scale, customized production

Secondary sector

Manufacturing goods from raw materials

Trading Blocs

Countries trade easily within a group

Vertical integration

company controls all of the production steps

Growth Pole

Place where economic growth starts and spreads to other areas