Geo Chapter 5 - key terms Flashcards
the amount of money a company or government receives as income
revenue
a person or organization that purchases and uses products or services
consumer
A group or person who protects consumers from fraud, inferior products, false advertising, etc.
Consumer advocate
An organization created by producers to promote their products and to maintain fair prices by controlling supply
marketing board
work that provides income for people
industry
the amount that can be taken from a natural resource without reducing the resource’s ability to maintain itself
sustainable yield
the collecting of raw materials for use in industry
Primary industry
manufacturing and construction activities
secondary industry
the providing of services, such as consumer support, distribution, or retailing
tertiary industry
the first stage of the manufacturing system, in which decisions are made
input
the second stage of the manufacturing system, in which the product is made
process
the third stage of the manufacturing system, in which goods are distributed to consumers
output
the last stage of the manufacturing system, in which the product and process are judged
Feedback
foreign that supply goods and services for export to companies in other countries, such as Canada
offshore componies
sending work to an outside provider, usually to cut costs
outsourcing
