×
Log in to StudySoup
Get Full Access to IU - SPE 421 - Study Guide
Join StudySoup for FREE
Get Full Access to IU - SPE 421 - Study Guide

Already have an account? Login here
×
Reset your password

IU / SPEA / SPE 421 / The ability to produce goods and services anywhere in the world, not j

The ability to produce goods and services anywhere in the world, not j

The ability to produce goods and services anywhere in the world, not j

Description

School: Indiana University
Department: SPEA
Course: Metropolitan Development
Professor: David audretsch
Term: Spring 2016
Tags: Metropolitan Development
Cost: 50
Name: Midterm Study Guide
Description: These notes describe almost all of the terms and ideas from the review handout given in class.
Uploaded: 03/01/2016
2 Pages 9 Views 5 Unlocks
Reviews

304403235 (Rating: )

Material contains inappropriate content:



Midterm Study Guide


The ability to produce goods and services anywhere in the world, not just restricted to one place.



Vocabulary:

SMP Framework: Performance???? Policy????Underlying Forces

Clusters: businesses in the same place containing businesses in related industries

∙ Horizontal cluster: in the same industry

∙ Vertical cluster: all aspects of an industry (ex. Car parts-???? auto assembly line)

Creative Class: job classifications such as artists or engineers to help envision and develop a  place

Underlying Forces: factors/resources, spatial organization/structure, human dimension Human Dimension: the identity or image of a place Don't forget about the age old question of laguardia blackboard

Performance: the prosperity in the place based on utilization of underlying forces

Globalization: the ability to produce goods and services anywhere in the world, not just  restricted to one place

Competition: when identical goods are available in the same place, healthy for a place Innovation: coming up with new ideas for strategically managing a place Outsourcing: transferring portions of production to other parts of the world to cut costs


What is outsourcing?



Offshoring: relocating the whole business to another country, this can hurt the economic  performance of a place

Specialization: a place focuses on one industry to attract jobs and talent (ex. Huntsville, AL in  the aerospace industry)

Infrastructure: the ability to access a place via roads, public transportation, etc. Physical Capital: land, equipment, and other tangible resources If you want to learn more check out who sculpted st. george tabernacle?

Spatial Organization: a place could have a competitive organization or monopolies Human Capital: the knowledge and skills of a person

Policy: rules and regulations governing a place and may need to be changed to improve performance

Skilled Labor: work where specific skills or training is necessary to complete a specific task (ex.  Forklifting, crane operator)

Unskilled Labor: work that anyone can do without and specialized skills (ex. Pizza delivery man)

Competitive Advantage: being the best place in terms of economic performance in comparison to other  places


Rules and regulations governing a place and may need to be changed to improve performance.



Makers: people with hard skills who do not necessarily have the resources to scale production of their  goods (ex. A person who makes furniture by hand out of their garage)

Human Capital: knowledge, education, or skills that are valuable to the marketplace

Makerspace: a building designated for makers to produce their goods in an environment where  resources are shared in an attempt to allow makers to have very low start-up costs

Diversity: the combination of different ethnicities in a place

Dillon’s Rule: Supreme Court ruling that says states must write rules and policies for how their place is  meant to develop economically  If you want to learn more check out chem 112 psu

Ideas: 

SMP Framework: POLICIES affect how the UNDERLYING FORCES can be used to improve the  PERFORMANCE of a place

Economic Performance: measured by the prosperity of jobs and other resources in a place Knowledge Spillover: typically found in a cluster to share ideas and innovation We also discuss several other topics like squillacote
If you want to learn more check out peter houde nmsu

Economies of Scale: when places can expand their sales from very small to very large to reach a large  amount of people We also discuss several other topics like What is the syncretism?

Why would the public opposed economic development? - The public could be faced with taxes, traffic,  environmental harm, demand of services (water, sanitation etc.) crime, harm to image

Page Expired
5off
It looks like your free minutes have expired! Lucky for you we have all the content you need, just sign up here