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Questions and Answers
What does 'Economies of Scale' refer to?
What does 'Economies of Scale' refer to?
- Reduction in the number of suppliers
- Increase in efficiency of production as the number of goods being produced increases (correct)
- Increased market competition
- Decrease in costs due to increased output
What are Heartland and Rimland?
What are Heartland and Rimland?
The central region of a country or continent and control surrounding countries
What is outsourcing?
What is outsourcing?
Turning responsibility to other suppliers
Special Economic Zones in China have ______ free market laws than the national laws.
Special Economic Zones in China have ______ free market laws than the national laws.
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What does topocide refer to?
What does topocide refer to?
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Study Notes
Economies Of Scale
- Efficiency in production increases as output rises.
- Example: Ford Motor Company exemplifies this, producing vehicles at a larger scale reduces costs per unit.
Heartland/Rimland
- Refers to the core area of a country or continent, essential for strategic control.
- Rimland encompasses the surrounding regions, often influencing geopolitical dynamics, as seen during World War II.
Outsourcing
- Delegating production tasks to external suppliers to optimize efficiency and reduce costs.
- Common practice in industries like automotive, where car manufacturers outsource seat production to specialized companies.
Special Economic Zones (China)
- Designated regions within a country that operate under more lenient economic policies than the national framework.
- Aim to attract foreign investment and boost economic activity by offering incentives.
Topocide
- The concept of destroying the character or essence of a place over time.
- Often associated with urban areas facing gentrification, leading to the displacement of original residents and cultural changes.
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