1683604
| Question | Answer |
| Commodity Chain | Series of links connecting the many places of production and distribution and resulting in a commodity that is then exchanged on the world market |
| Globalization | The expansion of economic, political, and cultural processes to the point that they become global in scale and impact. The processes of globalization transcend state boundaries and have outcomes that vary across places and scales. |
| Staples Thesis | The theory that Canada’s economy developed through the export of raw resources to Europe and that, as a result, Canada did not develop a strong manufacturing base, preferring to import finished goods. |
| World City | Dominant city in terms of its role in the global political economy. Not the world’s biggest city in terms of population or industrial output, but rather centers of strategic control of the world economy. |
| Free Trade Zones | Areas set aside within countries to make foreign investment and trade easier by reducing or eliminating trade barriers, and providing inexpensive labour and raw materials. |
| Friction of Distance | The increase in time and cost that usually comes with increasing distance. |
| Neo-liberalism | An ideologically driven set of practices that seek to open and expand capitalist markets, reduce or eliminate government regulation and constraint of the free market, and the development of frameworks that enhance global market processes. |
| 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; associated with the work of David Harvey. |
| Networks | A set of interconnected nodes without a centre, as defined by Manuel Castells. |
| Vertical integration | Ownership by the same firm of a number of companies that exist along a variety of points on a commodity chain. |
| Synergy | The cross-promotion of vertically integrated goods. |
| Horizontal Integration | Ownership by the same firm of a number of companies that exist at the same point on a commodity chain |
| Placelessness | The loss of uniqueness of place in the cultural landscape so that one place looks like the next, as defined by geographer Edward Relph. |
| Glocalization | The process by which people in a local place mediate and alter regional, national, and global processes. |
| Participatory Development | The notion that locals should be engaged in deciding what development means for them and how it should be achieved. |
| Local Exchange Trading System (LETS) | A barter system whereby a local currency is created through which members trade services or goods in a local network separated from the formal economy |
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