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APHG Development- process of improving the living conditions and material…
APHG Development- process of improving the living conditions and material wealth of people in a country
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Core Periphery Model- Wallerstein, WORLD SYSTEMS THEORY, core exploits the periphery, core has most influence on global economy
NAFTA- North Atlantic Free Trade Agreement, US,Canada, and Mexico, eliminate tariffs/ trade barriers, lead to much outsourcing to Mexico and creation of maquiladoras
Maquiadoras- manufacturing plants near the US/Mexico border, owned by US companies, workers in Mexico cheaper and close to US markets
Export Processing Zone- areas within LDCs, offer incentives and a barrier-free environment to promote economic growth, attracting foreign investment for export production, ex: Maquiladoras
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Weber's Least Cost Theory- why businesses locate in certain areas, , 3 factors: labor cost, transport costs, and agglomeration
Agglomeration- clustering of similar services in an area, usually to share resources/ customers, ex: Town Center, Wall Street in NYC
Deagglomeration- when an area has too many similar industries, saturated market
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Industrialization
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Post- Fordist Production
Outsourcing- a company turns over much of the responsibility for production to independent suppliers
New International Division of Labor- transfer of some types of jobs (low wage and experience) from more developed countries to less developed countries