Capital can take many forms but for the purpose of this section we will refer to capital as money.
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Core Areas
These are economically important and attract investment, capital and people. For the purpose of this section we will consider MEDCs like the US, Canada, Western Europe and Japan to be the core areas.
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Periphery Areas
These areas are poorer and may experience exploitation, economic leakage and out migration. For the purpose of this section we will consider LEDCs in Africa, Central Asia and parts of Latin America to be the periphery.
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Loans
Money that is borrowed from someone.
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Debt Repayment
The paying back of money that you have borrowed.
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Remittances
Money sent home to friends and family by migrants living in a different location (often abroad).
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Foreign Direct Investment (FDI)
Investment made by overseas governments, businesses or individuals in foreign enterprises.
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Repatriation of Profits
TNCs operating in foreign countries will normally send any profits made back to the TNC headquarters. This repatriation of profits is sometimes known as economic leakage.
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Protectionism
Methods used to protect domestic industries from foreign competition. This might be done with tariffs, quotas or subsidies.
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Economic Migration
This is a type of voluntary migration where people migrate for job reasons. This might because they have no job in their current location or that a job in a different location offers better pay or a better position.
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Outsourcing
The process of taking internal company functions and paying an outside firm to handle them. The process of outsourcing part of your business operations to another company is known as subcontracting.
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Offshoring
Offshoring is different to outsourcing, offshoring means moving elements of your companies operations overseas while keeping them within the company.
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Call centre
This is a centralised location used for the purpose of receiving or transmitting high levels of phone calls.
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Other cards in this set
Card 2
Front
These are economically important and attract investment, capital and people. For the purpose of this section we will consider MEDCs like the US, Canada, Western Europe and Japan to be the core areas.
Back
Core Areas
Card 3
Front
These areas are poorer and may experience exploitation, economic leakage and out migration. For the purpose of this section we will consider LEDCs in Africa, Central Asia and parts of Latin America to be the periphery.
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