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15 Cards in this Set
- Front
- Back
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International Monetary Fund (IMF) |
Organization which gives loans to poor countries McKinna Copple |
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Industrial revolution |
Social and economic changes in agriculture, commerce, and manufacturing that resulted from technological innovations and specialization in late- eighteenth- century Europe McKinna Copple |
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Intermodal connections |
Places where two or more modes of transportation meet( including air, road, rail, barge, and ship) McKinna Copple |
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Just-in-time delivery |
Method of inventory management made possible by efficient transportation and communication systems, whereby companies keep on hand just what they need for near-term production McKinna Copple |
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Least Cost theory |
Model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of three critical expenses: labor, transportation, and agglomeration McKinna Copple |
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Newly industrializing countries (NIC) |
States that underwent industrialization after World War II and whose economies have grown at a rapid pace McKinna Copple |
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Offshore |
With reference to production, to outsource to a third party located outside of the country. Ex: Ford motor company’s car parts being made in Mexico McKinna Copple |
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Outsourced |
With reference to production, to turn over to a third party in part or in total. Ex: outsource call-center service jobs to India McKinna Copple |
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Product life cycle |
The introduction, growth, maturation, and decline of a product McKinna Copple |
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Rust belt |
The post industrial region of the northeast and Midwest, referring to its economic decline, population loss, and urban decay due to the shrinking of its once powerful industrial sector McKinna Copple |
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Spatial fix |
The movement of production from one site to another based on the place- based cost advantages of the new site McKinna Copple |
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Sun belt |
The south and southwest regions of the U.S. where the climate is warm McKinna Copple |
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Technopole |
Centers or nodes of high tech research and activity around the high- technology corridor McKinna Copple |
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Vertical integration |
Ownership by the same firm of a number of companies that exist along a variety of points on a commodity chain McKinna Copple |
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World trade organization (WTO) |
Organization of 100+ governments who work to promote freer trade among member states McKinna Copple |
