ap Flashcards
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| 13412233128 | Production | an object that is more valuable than the sum of the raw materials | 0 | |
| 13412233129 | Industrialization | the development of industries in a country or region on a wide scale that are involved with manufacturing | 1 | |
| 13412233130 | production chain | The process that transforms raw materials into a finished product, then distributes that product for consumption by households, government, or industries. | 2 | |
| 13412233131 | Break-of-bulk point | A location where transfer is possible from one mode of transportation to another. | 3 | |
| 13412233132 | optimum location | According to economist Alfred Weber, the ideal location for a manufacturing plant: where there is a balance between the locations of the various raw materials, the labor force, and the markets where the final products would be sold. | 4 | |
| 13412233133 | Bulk gaining | GAINS size or weight in production -Best to locate close to market | 5 | |
| 13412233134 | Bulk losing | raw materials are broken down and made further from market | 6 | |
| 13412233135 | forward linkages | forward to further refined goods | 7 | |
| 13412233136 | backward linkages | to your inputs | 8 | |
| 13412233137 | base employment | Employment that supports jobs in the service sector and other manufacturing industries. | 9 | |
| 13412233138 | multiplier effect | The direct, indirect, and induced consequences of change in an activity. one job results in two jobs | 10 | |
| 13412233139 | venture capitalists | Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses. | 11 | |
| 13412233140 | high technology clusters | Areas that have a high concentration of specialized labor, specialized inputs, knowledge spillovers, and market/user accessibility that benefits the high-technology industry. | 12 | |
| 13412233141 | Footloose industry | Industry not bound by locational constraints and able to choose to locate wherever it wants. | 13 | |
| 13582548936 | Deterritorialization | allows for social and economic activities to occur regardless of where people are physically located | 14 | |
| 13582548937 | Transnational Corporation | A firm that conducts business in at least two separate countries; also known as multinational corporations. | 15 | |
| 13582548938 | conspicuous consumption | buying expensive services and products in order to flaunt your wealth; Thorstein Veblen | 16 | |
| 13583418071 | commodity chain | the design, production, marketing, & retail of a product | 17 | |
| 13583418072 | Hotelling's Model | (dealt with locational interdependence) the location of industries can't be understood w/o reference to the location of other industries of like kind; two similar vendors would locate next to each other in the middle of a market area to maximize profit (or beach/street as his model suggests). | 18 | |
| 13583418073 | Bimodal | short distance for basic goods; long distance for luxury goods | 19 | |
| 13583418074 | "the wealth of nations" | 1776, Adam Smith. founder of modern capitalism | 20 | |
| 13584839129 | Protectionism | placing high tariffs to protect companies & workers | 21 | |
| 13584839130 | embargo | choking off supplies of a critical resource | 22 | |
| 13584839131 | Autarky | economic independence or self-sufficiency | 23 | |
| 13584839132 | comparative advantage | the ability to produce a good at a lower opportunity cost than another producer | 24 | |
| 13584839133 | competitive advantage | a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition | 25 | |
| 13584839134 | currency manipulation | benefits the exporters; strong vs weak is determined over time | 26 | |
| 13584839135 | node | places in their own right or intersection | 27 | |
| 13584839136 | link | routes that connect nodes | 28 | |
| 13584839137 | congestion charge | the amount of money you have to pay each day to drive into a city centre in order to reduce traffic | 29 |