| A | B |
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| Bid rent theory | Geographical economic theory that refers to how the price and demand for real estate changes as the distance from the Central Business District decreases |
| Acid Rain | Growing environmental peril that severely damages plant and animal life caused by oxides of sulfur and nitrogen that are released into the atmosphere |
| Agglomeration | a process involving the clustering or concentrating of people or activities |
| Agglomeration economies | savings which arise from the concentration of industries in urban areas and their location close to linked activities |
| Air Pollution | the introduction of chemicals, particulate matter, or biological materials that cause harm or discomfort to humans or other living organisms or damages the natural environment, into the atmosphere |
| Aluminum industry | Manufactures of aluminum considered as a group |
| Fordism | Social theories about production and related socioeconomic phenomena |
| Break of bulk point | a location along a transport route where goods must be transferred from one carrier to another |
| Rimland | concept by Spykman to describe the maritime fringe of a country or continent, in particular the densely populated western, southern and eastern edges of the Eurasian continent |
| Comparative advantage | the ability of a party to produce a particular good or service at a lower opportunity cost than another party |
| Cumulative causation | a mechanism by which an output is enhanced |
| Deglomeration | the process of industrial deconcentration in response to technological advances and/or increasing costs due to congestion and competition |
| Deindustrialization | process by which companies move industrial jobs to other regions with cheaper labor, leaving the region to switch to a service economy and to work through a high period of high unemployment |
| Economic sectors | another term for industries |
| Economies of scale | characteristics of a production process in which an increase in the scale of the firm causes a decrease in the long run average cost of each unit |
| Ecotourism | tourism to exotic or threatened ecosystems to observe wildlife or to help preserve nature |
| Energy resources | discovered to be hydro, solar, wind, biomass, geothermal, coal, crude oil, natural gas, and ocean wave motion and are used to produce power |
| Entrepot | a commercial center, a place where merchandise is sent for additional procession and distribution |
| Export processing zone | zones established y many countries in the periphery and semi periphery where they offer favorable tax, regulatory and trade arrangements to attract foreign trade and investment |
| Fixed costs | business expenses that are not dependent on the activities of the business, they tend to be time-related, such as salaries or rents being paid per month |
| Footloose industry | an industry that can be placed and located at any location without effect from factors such as resources or transport |
| Four tigers | refers to the highly developed economies of Hong Kong, Singapore, South Korea and Taiwan |
| Greenhouse effect | the blanket like effect of the atmosphere in the heating of the Earth's surface; shortwave insolation passes through the "glass" of the atmospheric "greenhouse" heats the surface is converted to longwave radiation that traps heat which raises the earth's temps |
| Heartland | the central region of a country or continent, especially a region that is important to a country or to a culture |
| Industrial location theory | Theory attempting to explain why industries are found to have located in the places they are found |
| Industrial Revolution | A period from the 18th century where major changes in agriculture, manufacturing, mining and transport had a profound effect on the socioeconomic and cultural conditions starting in the United Kingdom, then subsequently spreading throughout Europe |
| Infrastructure | The basic physical and organizational structures needed for the operation of a society or enterprise, or the services and facilities necessary for an economy to function |
| International division of labor | economic specialization is the specialization of cooperative labor in specific, circumscribed tasks and roles, intended to increase the productivity of labor |
| Labor intensive | Requiring a great deal of work, especially physical and manual effort |
| Least-cost location | the location of manufacturing establishments is determined by the minimization to three critical expenses; labor, transportation and agglomeration |
| Manufacturing exports zones | feature of economic development in peripheral countries whereby the host country establishes areas with favorable tax, regulatory and trade arrangements in order to attract foreign manufacturing operations, goods destined for global market |
| Maquiladora | Zones in northern Mexico with factories supplying manufactured goods to the US market, low wage workers in the primarily foreign owned factories assemble imported components and/or raw materials and then export finished goods |
| Multiplier Effect | The idea that an initial amount of spending leads to increased consumption spending and so results in an increase in national income greater than the initial amount of spending |
| NAFTA | An agreement for free trade between US, Canada and Mexico |
| Outsourcing | The transfer of a business function to an external service provider |
| Offshoring | With reference to production, to outsource to a third party located outside the country. |
| Plant location | An inventory strategy that strives to improve a business's return on investment by reducing in-process inventory and associated carrying costs |
| Postindustrial | A society in which an economic transition has occurred from a manufacturing based economy to a service based economy and a diffusion of national and global capital and mass privatization |
| Cottage industry | small home based business |
| Special Economic Zones | Geographical region that has economic laws that are more liberal than a country's typical economic laws |
| Substitution Principle | Focused on the substitution of a product, service or process to another that is more efficient or beneficial in some way while retaining the same functionality |
| Range | The maximum distance a customer is willing to travel |
| Threshold | The minimum market area size |
| Time-space compression | The social and psychological effects of living in a world in which time space convergence has rapidly reached a high level of intensity |
| Topocide | The deliberate killing of a place through industrial expansion and change, so that its earlier landscape and character are destroyed |
| Complimentarity Trade | THe commercial exchange of goods and services |
| Transnational Corporation | A multinational corporation(MNC) also called multinational enterprise (MNE) is a corporation or an enterprise that manages production or delivers services in more than one country |
| Vertical Intergration | Ownership by the same firm of number of companies that exist along a variety of points on a commodity chain. |
| Variable Costs | Costs that change directly with the amount of production |
| Adaptive strategies | Marketing plans, tactics, and methods that have been modified to fit in with the local settings in foreign markets |
| Post-Fordist Production | The adoption by companies of flexible work rules such as the allocation of workers to teams that perform a variety of tasks |
| Market orientation | When an industry is located near its customers due to high transportation costs of the final product. |
| Weight-losing | Relative loss in weight of production inputs during the production process |
| Weight-gaining | relative gain in weight of production inputs during the production process |
| Growth poles | Points of economic growth |
| Calorie consumption | Food energy is the amount of energy in food that is available through digestion |
| Core-periphery model | Higher wages and prices are found at the core while the lack of employment in the periphery keeps wages low there. The result may well be a balance of payments crisis at the periphery |
| Cultural convergence | Is the contact and interaction of one country to another |
| Dependency theory | A structuralism theory that offers a critique of the modernization model of development. political and economic relations between countries have controlled and limit the extent to which regions can develop |
| Foreign Direct Investment | investment of foreign assets into domestic structures, equipment, and organizations |
| gender | the wide set of characteristics that are seen to distinguish between male and female entities, extending from one's biological sex to, in humans, one's social role |
| Gross Domestic Product | The total value of all goods and services produced within a country during a given year |
| Gross National Product | Total value of all goods and services produced by a country's economy in a given year. It includes all goods and services produced by corporations and individuals. |
| Human Development Index | an indicator of the level of development for each country, constructed by the UN combing income literacy education and life expectancy |
| Levels of Development | Per capita levels of income, the structure of the economy, and various social indicators are typically used as measures for determining whether countries are developing or developed. |
| Neocolonialism | A policy whereby a major power uses economic and political means to perpetuate or extend its influence over underdeveloped nations or areas |
| Purchasing Power Parity | how much money would be needed to purchase the same goods and services in two different countries, and uses that to calculate an implicit foreign exchange rate. |
| Technology gap | The presence in a country of a technology that other countries do not have, so that it can produce and export a good whose cost might otherwise be higher than abroad |
| Technology Transfer | The sharing of technological information through education and training; The use of a concept or product from one technology to solve a problem in an unrelated one |
| Third World | underdeveloped and developing countries of Asia and Africa and Latin America collectively |
| Newly Industrializing Countries | States that underwent industrialization after WWII and whose economies have grown at a rapid pace |
| Spatial Fix | The movement of production from one site to another based on the place-based cost advantages of the new site |
| Gross National Income | The monetary worth of what is produced within a country plus income received from investments outside the country minus income payments to other countries around the world |
| Dollarization | When a poorer country ties the value of its currency to that of a wealthier country, or when it abandons its currency and adopts the wealthier country's currency as its own. |
| High Tech Corridors | Areas along or near major transportation arteries that are devoted to the research, development and sale of high-technology products. These areas develop because of the networking and synergistic advantages of concentrating high-tchnology enterprises in close proximity to one another. "Silicon Valley" is an example. |
