APHG economics

Just in Time Delivery

a logistics strategy that aligns raw-material orders from suppliers directly with production schedules.

Post Fordism

______ is characterized by flexible production methods that respond to consumer demand. More specialized products and globalized market

Agglomeration

the spatial clustering of businesses and industries, which can lead to increased efficiency and shared resources.

Free Trade Zones

designated areas where goods can be imported, handled, manufactured, and re-exported without the intervention of customs authorities.

Break of Bulk Point

a location where goods are transferred from one mode of transport to another, often resulting in a reduction in shipping costs.

Special Economic Zone

a designated area within a country that operates under different economic regulations than the rest of the country, aimed at attracting foreign investments and boosting economic activity.

Complementarity

the relationship between two or more goods or services that are often used together, where the demand for one increases the demand for the other.

Tariff

tax imposed by a government on imported goods, aimed at increasing the cost of imports and protecting domestic industries.

Outsourcing

the practice of transferring business functions or processes to external suppliers, often to reduce costs or improve efficiencies.

Comparative advantage

The ability of an individual firm to produce a good or service at a lower cost than another firm leading to gains from trade through specialization

Economies of scale

cost advantages that a business obtains due to the scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units.

Growth piles

Geographically concentrated areas where specific industries businesses and economic activities cluster leading to overall economic growth and development often attracting further investment

Fordism

a system of mass production that emphasizes assembly line techniques, standardized products, and high wages for workers, aimed at increasing productivity and consumer consumption.