Crash course- Industrialization and Economic Development Flashcards Preview

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Flashcards in Crash course- Industrialization and Economic Development Deck (18)
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1
Q

What are spatially-variable costs?

A

Costs that change depending on the factory’s location

2
Q

What is market-orientation?

A

When weight-gaining processes were built near the marketplace because the product was heavier to transport in its final form

3
Q

What are spatially fixed costs?

A

Costs that remain the same no matter where they choose to locate

4
Q

What is industrial capital?

A

Something included is labor considerations and consists of machinery and the money to purchase the tools and workers the factory needs

5
Q

What is the substitution principle?

A

It applies when an industry will move to a place to access lower labor costs, even though transportation costs might increase as well

6
Q

What are agglomeration economies?

A

They occur when the positive effects of agglomeration result in lower prices for customers

7
Q

What are localization economies?

A

A category of agglomeration economies that occur when many firms in he same industry benefit from clustering close together (ex: these firms all get access to the same talented labor force)

8
Q

What are urbanization economies?

A

Another category of agglomeration economies that occur when large populations in urban areas be benefit from clustering together because they get to share the infrastructural elements (ex: power lines and transport systems)

9
Q

What is a high-tech corridor?

A

A place where technology and computer industries agglomerate

10
Q

What is a technopole?

A

A region of high-tech agglomeration, formed by similar high-tech industries seeking to locate in a shared area so they can be idiot from shared resources

11
Q

What is purchasing power parity (PPP)?

A

PPP is a measurement tool for calculating the exchange rates required for each currency to buy an equal amount of goods

12
Q

What is the informal sector?

A

All business transactions that aren’t reported to the government (street vendors, day laborers, drug traffickers, prostitution, etc)

13
Q

What is comparative advantage?

A

When it’s better at producing a particular good or offering some service than another country (ex: Japan trades high tech stuff for food)

14
Q

What are non-governmental organizations?

A

NGOs are organizations run by charities and private organizations, rather than a government agency, that provide supplied, resources, and money to local businesses and causes that advance economic and human development

15
Q

What are conglomerate corporations?

A

One massive cooperation owns and operates a collection of smaller companies that provide it with specific services in its production process

16
Q

What are export-processing zones?

A

Regions that offer tax breaks and loosened labor restrictions in LDCs to attract export-driven production processes, such as factories producing goods for foreign markets

17
Q

What are free trade zones?

A

When duties and tarrifs are waived by the govt

18
Q

What is the commodification of labor?

A

When factory owns begin looking at their human labor as commodities with price tags per hour, instead of thinking of them as people