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Sustainable development goals
Using natural resources at a rate that dorsn’t deplete them
Outsourcing
Goods that came from out of the country
Industrial revolution
A period of rapid industrial increase starting in Europe during the early 18th century.
Post fordism
World economic system characterized by a more flexible se of production practices in which goods aren’t mass produced
Primary (economic unit)
Sector of the economy making direct use of natural resources
Tertiary(economic unit)
Provides services, call centers
Industrializing
The process of transforming the economy of a nation or region from a focus on agriculture to manufacturing
Semi-periphery
The industrializing countries
Agglomeration
Businesses or economies that group together
Quinary
Highest level of decision making in a society or economy, upper offices
Ecotourism
The practice and business of recreational travel based on concern for the environment
Backwash effect
The negative impacts on a region of the economic growth of some other region
GDP
Gross domestic product divided by the number of people in the population
Bulk gaining
Products that weigh more after assembly
Complementarity
The degree to which one place can supply something that another place demands
Gender inequality index
A measure of the extent of each country’s gender inequality
Vertical integration
When one company controls all aspects of its production process
Dependency theory
Theory that the world economy benefits rich societies and harms other countries by making them depend on the core countries
Economy of scale
The reduction in the per unit cost of production as the volume of production increases
Fordism
Use of labor specialization and a moving assembly line production to create a large number of standardized goods at decreased prices for consumers
Cottage industry
Production of goods in a home or small workshop, typically by hand or low technology
Technopole
A center of high tech manufacturing and information based quaternary industry.
Just in time delivery
Companies that keep just what they need for short-term production and new parts are shipped quickly as they are needed
Ancillary activities
Economic activities that surround and support large scale industries
Break of bulk product
Location where the transfer of goods from one mode of transportation to another takes place
Footloose firm
An easy to move business