Unit 7 (1)
This economic concept describes how an initial increase in spending leads to a larger overall increase in economic activity.
What is the multiplier effect?
In transportation geography, this term refers to the cost of moving goods or people over a specific distance.
What is line cost?
This statistical measure represents income inequality within a nation or group, ranging from 0 (perfect equality) to 1 (perfect inequality).
What is the Gini coefficient?
Nike moving much of its shoe production to factories in Vietnam and Indonesia to reduce labor costs.
What is offshoring?
These are groups of countries that have agreed to reduce or eliminate trade barriers among member nations.
What are trading blocs
This industrial process involves raw materials gaining weight or volume during production, often leading to factories being located near the point of consumption.
What is bulk gaining?
These industries are not tied to specific locations due to factors like raw materials or markets, and can thus be located almost anywhere.
What are footloose industries?
This economic indicator is calculated by dividing a country's total economic output by its population, often used to compare living standards.
What is GDP per capita?
An American company contracts a call center in India to handle its customer service operations.
What is outsourcing?
This North American free trade agreement replaced NAFTA in 2020, involving the United States, Mexico, and Canada.
What is USMCA?
This industrial process involves raw materials losing weight or volume during production, often leading to factories being located near the source of raw materials.
What is bulk reducing?
Apple Inc. designs its own chips, develops its operating system, and operates retail stores to control multiple stages of production and distribution.
What is Vertical Integration?
his composite statistic measures a country's average achievement in key dimensions of human development: health, education, and standard of living.
What is the Human Development Index (HDI)?
Canada exports wheat to Japan, while Japan exports automobiles to Canada
What is complementary trade?
his term refers to the rapidly-growing economies of Hong Kong, Singapore, South Korea, and Taiwan during the late 20th century.
What are the Asian Tigers?
This theory suggests that industries locate where the total transportation costs of raw materials and final products are minimized.
Weber's Least Cost Theory
Facebook's acquisition of Instagram and WhatsApp to expand its control over social media platforms.
What is Horizontal Integration?
The Grameen Bank in Bangladesh provides small loans to rural women to start businesses like basket weaving or goat farming.
What are microloans?
Brazil specializes in coffee production and exports, while Japan focuses on manufacturing and exporting electronics.
What is Comparative trade advantage
A Dell computer factory receiving components only hours before they are needed in the assembly process, minimizing inventory costs.
What is Just-in-time delivery?
This shipping innovation revolutionized global trade by standardizing cargo units, reducing loading times, and increasing efficiency.
What is containerization?
Comparing the cost of a Big Mac in different countries to assess the relative value of currencies (the Big Mac Index).
What is Purchasing power parity (P.P.P.) ?
Nestlé, headquartered in Switzerland, operates in 187 countries and employs over 300,000 people worldwide.
What is a transnational corporation/multi-national corporation (MNC)?
Initiatives to increase girls' enrollment in schools in rural Afghanistan to achieve gender equality in education.
What is Sustainable development goals for women
Silicon Valley in California, home to numerous tech giants like Google, Apple, and Facebook, as well as Stanford University and numerous startups.
What is a technopole?