All Flashcards
What is Weber's Least Cost Theory?
Theory explaining industrial location based on minimizing costs like transportation, labor, and agglomeration.
Explain Agglomeration and its benefits.
Clustering of businesses leading to skilled labor, access to transportation, and increased efficiency.
What are Growth Poles and their goal?
Centers of economic activity designed to stimulate growth in a region.
What is the purpose of Just-In-Time Delivery?
To minimize inventory and reduce waste by delivering goods when needed.
Explain Post-Fordist Production.
Flexible, customized production using advanced technologies and responsiveness to consumer demand.
What is the impact of Outsourcing and Offshoring?
Job decline in core regions and job growth in newly industrialized countries.
What incentives are offered in Special Economic Zones?
Tax breaks, relaxed regulatory requirements, and access to infrastructure.
Explain Economies of Scale.
Cost advantages achieved by increasing production scale through bulk purchasing and specialized equipment.
Explain the core-periphery model in the context of outsourcing and offshoring.
Core regions lose jobs as production shifts to the periphery, where labor costs are lower.
What is the goal of Special Economic Zones?
To encourage economic development and attract foreign investment.
What is Agglomeration?
Clustering of businesses in a specific area.
What are Growth Poles?
Centers of economic activity designed to stimulate growth.
What is Just-In-Time (JIT) Delivery?
Delivering goods and materials just when needed in production.
What is Post-Fordist Production?
Flexible, customized production methods, moving away from mass production.
What are Economies of Scale?
Cost advantages achieved by increasing production scale.
What is Outsourcing?
Hiring a third party to perform tasks.
What is Offshoring?
Moving production to another country.
What are Special Economic Zones (SEZs)?
Designated areas with special economic regulations to attract investment.
What are NICs?
Newly Industrialized Countries (e.g., BRIC SAM).
What are New Asian Tigers?
Hong Kong, South Korea, Taiwan, and Singapore – highly developed economies due to manufacturing.
What is the effect of high transportation costs on industrial location?
Industries tend to locate closer to raw materials or markets to minimize these costs.
What is the effect of agglomeration on business?
Increased efficiency, productivity, and innovation due to shared resources and knowledge.
What is the effect of outsourcing on core regions?
Job losses and economic restructuring as tasks are shifted to lower-cost locations.
What is the effect of offshoring on newly industrialized countries?
Job growth, economic development, and increased foreign investment.
What is the effect of special economic zones on local economies?
Increased economic activity, foreign investment, and job creation.
What is the effect of JIT delivery on inventory management?
Minimized inventory levels, reduced storage costs, and increased efficiency.
What is the effect of Post-Fordist production on product variety?
Increased product variety and customization to meet diverse consumer demands.
What is the effect of economies of scale on pricing?
Lower average costs, allowing for more competitive pricing.
What is the effect of relaxed regulations in SEZs on environmental standards?
Potentially lower environmental standards, leading to environmental degradation.
What is the effect of lower labor costs on industrial location?
Industries are attracted to regions with lower labor costs to minimize production expenses.