Industrialization and Sustainable Development Flashcards

This set of vocabulary flashcards covers key economic concepts including special economic zones, manufacturing models, and international labor divisions, along with principles of sustainable development and ecotourism.

Special Economic Zone (SEZ)

A geographically delineated area subject to differentiated regulation and administration from the host country in which it resides, for the purpose of attracting foreign direct investment in economic activity that could not otherwise be achieved.

free-trade zones

Special zones in which all trade barriers and tariffs between two countries are eliminated, usually consisting of labor intensive manufacturing plants such as the maquiladoras.

export processing zones

Areas found in many regions of the developing world that provide incentives for foreign companies to conduct business, providing benefits in the form of foreign investments and improved employment opportunities.

international division of labor

The transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less developed countries.

Fordism

A form of mass production in which each worker is assigned one specific task to perform repeatedly.

Post-Fordism

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

economies of scale

The increase in efficiency of production as the number of goods being produced increases, exemplified by Ford Motor Companies.

just-in-time delivery

A practice where the shipment of parts (input) arrives at the factory moments before they are needed to reduce the space that inventory takes up.

service sector

The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

Sustainable Development

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

Ecotourism

Tourism based in natural environments—often environments threatened by looming industrialization—that protects the environment and benefits local people by providing jobs.

UN's Sustainable Development Goals

An international declaration aimed at improving the living conditions of people in the least developed countries by 2015, focusing on areas like poverty, education, gender equality, and health.