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Compare Outsourcing and Offshoring.
Outsourcing: hiring a third party; Offshoring: moving production to another country. Both can lead to job shifts.
Compare Fordist and Post-Fordist Production.
Fordist: Mass production, standardized goods; Post-Fordist: Flexible, customized production, advanced tech.
Compare the economies of NICs and New Asian Tigers.
NICs: Newly industrializing, growing manufacturing; New Asian Tigers: Highly developed, advanced economies.
Compare the impact of locating in a developed country vs. a NIC for manufacturing.
Developed: Higher labor costs, stricter regulations; NIC: Lower labor costs, more relaxed regulations.
Compare the focus of Weber's Least Cost Theory and Growth Pole theory.
Weber's: minimizing costs for individual firms; Growth Pole: stimulating regional economic growth.
Compare the benefits of agglomeration for small businesses vs. large corporations.
Small: Access to resources and networks; Large: Economies of scale and market dominance.
Compare the role of transportation costs in Weber's theory for bulk-reducing vs. bulk-gaining industries.
Bulk-reducing: Locate near raw materials; Bulk-gaining: Locate near markets.
Compare the environmental regulations in developed countries vs. Special Economic Zones.
Developed: Stricter environmental regulations; SEZs: Often more relaxed regulations.
Compare the labor force characteristics in core vs. periphery regions.
Core: Skilled, higher-paid labor; Periphery: Lower-skilled, lower-paid labor.
Compare the goals of JIT delivery and maintaining large inventories.
JIT: Minimize inventory, reduce waste; Large inventories: Ensure supply, buffer against disruptions.
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 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.