Unit 7 Industry and Services Review

________________ involves keeping a small inventory for short-term production and new parts are shipped quickly as needed.

• Just in time delivery.

• Least Cost Theory.

• Fordist production.

• Global division of labor.

Fast, flexible production of small lots with outsourcing around the world is referred to as:

• Fordist.

• post-Fordist.

• socialist.

• colonial production.

Tracing the production of televisions throughout the world over time illustrates

• the current global distribution of raw materials.

• the current global division of labor.

• the current global shift to internet technology.

• the fact that lower labor costs are found in the core.

A company which uses more than one mode of transport will often locate near:

• consumers.
• break-of-bulk points.
• raw materials.
• suburbs.

Which of the following would have high terminal costs, high line costs, and high route flexibility?

• Railroad

• Truck

• Ships

• Airplane

• Pipeline

Which of the following would have high terminal costs, low line costs, and low route flexibility?

• Railroad

• Truck

• Ships

• Airplane

• Pipeline

Zones along the coast of southern Asia designed to attract foreign companies and investment to the country.

• Free Trade Zone

• Cottage Industry

• Special Economic Zones

• Protective Tarrifs

Groups of countries that have no tariffs or quotas for member countries.

• Free Enterprise System

• Communist/Command

• Free Trade Zones

• Special Economic Zones

The EPZs (Export processing zones) found in Mexico are known as

• free zones

• special economic zones

• urban enterprise zones

• maquiladoras

• backwash regions

A process of improvement in the material conditions of people through diffusion of knowledge and technology.

• Development

• Fair Trade

• Industry

• Added Value