AP STAMP

Containerization

The use of standardized containers for transporting goods, facilitating global trade.

Cottage industries

Small-scale, home-based manufacturing businesses that produce goods using traditional methods.

Economies of scale

Cost advantages gained by an increased level of production.

Spillover effect

The impact of an economic activity in one area that affects other areas.

First mover advantage

The competitive edge gained by the first company to enter a market.

Secondary hearth

A region or area where a cultural trait or innovation spreads after its initial diffusion.

Fordist

An industrial system characterized by mass production and assembly line work.

Vertical integration

A company's strategy of owning several stages of production or distribution.

Friction of distance

The increase in time and cost that typically comes with increasing distance.

Distance decay

The principle that as distance increases, the interaction between two places decreases.

Location theory

The study of geographical location of economic activities.

Least cost theory

A theory that explains the optimal location of a manufacturing firm based on minimization of costs.

Agglomeration

The clustering of businesses in a specific area to reduce costs and share resources.

Flexible production

A production process that allows for variations in the production process to meet consumer demand.

Commodification

The process of turning goods and services into commodities to be bought and sold.

Product life cycle

The stages a product goes through from introduction to decline.

Global division of labor

The international allocation of labor for the production of goods and services.

Time-space compression

The idea that advances in transportation and communication lessen the effects of distance.

Just in time delivery

An inventory strategy to increase efficiency by receiving goods only as they are needed.

Commodity chain

The series of processes from the production to the consumption of a commodity.

Outsourcing

The practice of having certain job functions done outside a company instead of having an in-house department.

Intermodal connections

The ability to connect different modes of transportation to improve efficiency.

Deindustrialization

The decline of industrial activity in a region or economy.

Break of bulk point

A location where goods are transferred from one mode of transportation to another.

Growth pole

An area where economic growth is concentrated and leads to further growth.

Technopole

A region with a high concentration of technology-based industry.

High technology corridor

A geographical area that supports technology and innovation industries.

Rust belt

A region in the northeastern United States known for declining industries and manufacturing.

Sun belt

A region in the southern United States known for its warm climate and economic growth.

Containerization

A system of intermodal freight transport using standardized containers for efficient transfer across transportation modes.

Cottage Industries

Small-scale, decentralized manufacturing businesses often operated from home.

Economies of Scale

Cost advantages gained through increased production, leading to lower costs per unit.

Spillover Effect

An economic effect that occurs when an event in one context causes effects in another context.

First Mover Advantage

The competitive edge gained by being the first to enter a market.

Secondary Hearth

An area where a particular cultural trait develops after its origin and spreads to other areas.

Fordist

A production system characterized by mass production and consumption, named after Henry Ford.

Vertical Integration

A business strategy where a company controls multiple stages of production or supply chain.

Friction of Distance

The impact of distance on interaction, leading to a decrease in communication or transactions as distance increases.

Distance Decay

The diminishing importance and likelihood of interaction with distance.

Location Theory

A theory that analyzes the geographical location of economic activity.

Least Cost Theory

A concept in economic geography that seeks to identify the optimal location for manufacturing based on cost factors.

Agglomeration

The concentration of industries or businesses in a specific area to benefit from shared resources.

Flexible Production

A system of manufacturing that can be easily adjusted to produce different products.

Commodification

The transformation of goods, services, or ideas into commodities for sale.

Product Life Cycle

The stages a product goes through from introduction to growth, maturity, and decline.

Global Division of Labor

The international allocation of different production processes to different countries.

Time-Space Compression

The phenomenon by which the relative distance between places shrinks as technology and communication advances.

Just-in-Time Delivery

An inventory management strategy that aligns raw-material orders from suppliers directly with production schedules.

Commodity Chain

The series of processes that a product goes through from the beginning stage to finished product.

Outsourcing

The practice of obtaining goods or services from an external supplier.

Intermodal Connections

Linkages between different modes of transportation, facilitating the movement of goods.

Deindustrialization

The decline in industrial activity in a region or economy.

Break of Bulk Point

A location where cargo is transferred from one mode of transportation to another.

Growth Pole

A point where economic development, growth, or innovation is concentrated.

Techopole

A concentration of high-tech companies, often associated with research and innovation.

High Technology Corridor

A region that supports a high level of technological industry development.

Rust Belt

An area in the Northeastern United States characterized by declining industry and population.

Sun Belt

A region in the Southern United States known for its warm climate and growing economy.

Cottage Industries vs. Factory Production

Cottage industries involve small-scale, home-based production, while factory production is large-scale and centralized.

Just-in-Time vs. Traditional Inventory

Just-in-time focuses on reducing inventory costs and increasing efficiency, while traditional inventory maintains larger stock levels.

Vertical Integration vs. Outsourcing

Vertical integration consolidates supply chain control, while outsourcing transfers production to