461 key terms Flashcards
This sector focuses on extracting natural resources from the earth
Primary sector
This sector focuses on making the products from natural resources
Secondary sector
This sector provides information and services to people
Tertiary sector
This sector manages and processes information
Quaternary sector
This sector creates information and makes high level decisions
Quinary sector
a large corporation that causes the businesses in the area’s business to multiply
Multiplier effect
A theory to explain the key decisions made by businesses to locate their factories that minimizes the total cost
Least cost theory
The spatial grouping of several businesses to share costs, such as an access road to a public highway or development of a workforce with special skills
Agglomeration economies
The three points of this triangle are the market for a good and two resources needed to make the good
Location triangle
