HUG vocab chap 11 Flashcards
cottage industry
manufacturing based in homes, not in factories
site factors
a place’s physical features that affect cost of production (land, labor, capital)
labor intensive industry
wages and other compensation paid to employees constitute high percentage of expenses
situation factors
location factors relating to relative location and transportation of materials into and out of the factory
bulk reducing industry
industry where inputs weigh more than final product
bulk gaining industry
something that gains weight during production
break of bulk point
location where transfer among transportation modes is possible
just in time delivery
shipment of parts and materials to arrive at factory moments before they are needed
supply
quantity of something producers have available for sale
demand
quantity people wish to consume and are able to buy
fossil fuel
energy source formed from residue of plants and animals buried millions of years ago
non renewable energy
resources with finite supply capable of being used
potential reserve
supply in deposits that are undiscovered but thought to exist
fission
splitting of atomic nucleus to release energy
fusion
fusing of hydrogen nuclei to form helium atom to create energy
renewable energy
source of energy with theoretical unlimited supply and is not depleted when used
geothermal energy
energy from hot water or steam
fordist production
production of consumer goods are at a single site
agglomeration
clustering of like minded industries to share resources and markets
friction of distance
the farther away something is, more time consuming and expensive
locational interdependence
location of industry cannot be understood without reference to similar industries
distance decay
influence of something decreases as distance between 2 points increases
variable costs
costs that change depending on situation
least cost theory
manufacturing plants locate where cost is least (transportation, labor, agglomeration)