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Flashcards in back ground industry germany Deck (19)
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1
Q

Knowledge

A

The expression patent refers to an intellectual property right, granted for the protection of technical inventions. Patents are granted based on Patent Law. The goal of patents is to stimulate innovation. Hence, the number of patent applications can serve as a characterization of a countryβ€˜s innovative power.

2
Q

Work

A

Amount of labor costs per unit of output. Used as a benchmark of a countryβ€˜s cost competitiveness.
π‘ˆπ‘›π‘–π‘‘ πΏπ‘Žπ‘π‘œπ‘Ÿ πΆπ‘œπ‘ π‘‘π‘  =
π‘™π‘Žπ‘π‘œπ‘Ÿ π‘π‘œπ‘ π‘‘π‘  π‘π‘’π‘Ÿ π‘’π‘šπ‘π‘™π‘œπ‘¦π‘’π‘’/
π‘ƒπ‘Ÿπ‘œπ‘‘π‘’π‘π‘‘π‘–π‘£π‘–π‘‘π‘¦ (π‘‘π‘’π‘™π‘–π‘£π‘’π‘Ÿπ‘’π‘‘ π‘’π‘π‘œπ‘›π‘œπ‘šπ‘–π‘ π‘œπ‘’π‘‘π‘π‘’π‘‘ π‘π‘’π‘Ÿ π‘€π‘œπ‘Ÿπ‘˜π‘’π‘Ÿ)

3
Q

Capital

A

Depicts the cross-border trade of a national economy, by comparing the goods imported and exported to/from other countries. Also refered as Balance of Trade.

4
Q

Three dimensions of production

A

Technological Intensity
Market Radius
Labor Intensity

5
Q

Technological Intensity

A

low - high

describes the search and development effort required for (further) development and production of products.

6
Q

Market Radius

A

regional - global
shows how far a product can be transported from the production site to the customer while remaining economically viable.
The decisive question being if the value of a product is worth the investment of distributing it to the regional market.

7
Q

Labor Intensity

A

low - high
is the amount of manual labor required in the production or in separate production processes in order to generate a product.
Automatized (parts of) processes have a low labor intensity.

8
Q

technology low
labor low
global

A
  1. automatized mass production
9
Q

high technology
low labor
global

A
  1. high tech export
    strong EBIT xx
    low added value yearly trend X
10
Q

low technolgoy
high labor
global

A
  1. global manufacturer
11
Q

high technology
high labor
global

A
  1. labor intensive export
    no EBIT
    low added value yearly trend X
12
Q

regional
low technology
low labor

A
  1. Regional Primary Material Processing
13
Q

regional
high technology
low labor

A
  1. high tech preparation
14
Q

regional
high technology
high labor

A
  1. labor intensive raw material processing
15
Q

regional
low technology
high labor

A
  1. regional primary material refining
16
Q

EBIT

A

earnings before interest and taxes (EBIT)

is a measure of a firm’s profit that includes all incomes and expenses (operating and non-operating) except interest expenses and income tax expenses.

17
Q

Global Boomerang

A

Information and communication fostered globalization of supply chains in the 1990s, now robotics fosters reshoring

18
Q

Robotics has asymmetric effects on the labor market

A

We believe as well that the negative effects we estimate are both interesting and surprising, because of the small offsetting employment increases in other industries and occupations. […] BCG (2015) has an β€˜aggressive’ scenario in which the world stock of industrial robots would quadruple by 2025. In our estimates, that would imply a 0.94-1.76 percentage points lower employment to population ratio, and 1.32.6% lower wage growth between 2015 and 2025. These are sizable effects. But it should also be noted that even under the most aggressive scenario, we are talking about a relatively small fraction of employment in the US economy being affected by robots. There is nothing here to support the view that new technologies will make most jobs disappear and humans largely redundant.

19
Q

production factors definition

A

describes the inputs used in the production of goods or services in order to make an economic profit.
- include any resource needed for the creation of a good or service. The factors of production include
LAND
LABOR
CAPITAL
ENTERPRENEURSHIP