GEO 103LEC Study Guide - Final Guide: Sustainable Development, Maquiladora, Import Substitution Industrialization

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Test 4: lec 15.5 - lec20
Porters’ competitive advantage
o Definition: Advantages over competitors derived from providing value to
customer compared to competitors
o Determinants:
Skilled labor (good educational system)
___ (also industrial clusters) including co-location
A culture that rewards ___
Competitive markets at home
o Venture and financial capital
o Public policies that encourage productivity growth, R&D, education, etc.
Currency fluctuations (reasons, effects) appreciate vs. depreciate
o Depreciate: When the value of a currency decreases relative to another
currency
US dollar vs Canadian dollar
US$1.20 / C$1
Canadian dollar is more valuable
o Appreciation: When the value of a currency increases relative to another
currency
US dollar vs Canadian dollar
US$0.90 / C$1
US dollar is more valuable
Protectionism (Tariff vs. Non-Tariff measures, reasons for protectionism)
o Tariffs taxes or duties on products that cross national borders
Purposes:
Protective Tariff to reduce imports entering a country;
increase sales for domestic producers
X to generate additional funds for domestic government
WTO (World Trade Organization)
o Advantages of trade
Technological diffusion
Stimulates growth and overall efficiency
Increases range of consumer’s choice
o Worsening Terms of Trade
Just read the freakin slide Lec15 Slide 28
o Inadequacies of Neoclassical Trade Theories
Artificial division of labor
Simple assumptions. Often based on restrictive assumptions that
limit their validity
Ignores other factors like technology, infrastructure, knowledge,
capital
GATT (historical development, general functions, criticisms)
Different types of regional economic integration, major trade blocs (EU, NAFTA
etc)
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Document Summary

Increases range of consumer"s choice: worsening terms of trade, just read the freakin slide lec15 slide 28, inadequacies of neoclassical trade theories, artificial division of labor, simple assumptions. Often based on restrictive assumptions that limit their validity. Ignores other factors like technology, infrastructure, knowledge, capital: gatt (historical development, general functions, criticisms, different types of regional economic integration, major trade blocs (eu, nafta etc) Nies, bilateral trade with the us surplus or deficit?: definition and features (economic growth vs. economic development, Developing countries characteristics e. g. unemployment/underemployment: measuring development (inadequacies of certain measures; alternative measures, epidemiological transition, labor force economic structure (primary quinary; examples in each sector, trade problems especially for developing countries e. g. africa. Industrialization in the developing world (import substitution vs. export-led, sweatshops: development strategies, sustainable development (definition, definition of services, drivers of growth in services, non-direct production, healthcare and education, characteristics of services labor market.

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