human geo unit 7 Flashcards
primary activities
basic, essential, and extractive; taking something from the earth ex: forestry, minerals, and raw materials
secondary activities
process the item or manufacture something from primary activities, such as industry
tertiary activities
revolve around the idea of providing a service, aka soft skills
quaternary activities
involve processing of information, especially areas of finance, insure and real estate(FIRE)
quinary activities
characterized by decision making, such as executives, or those serve the government roles
globalized economy
shaped by the process of labour costs and innovations in transportations
labour costs
are lower in areas of the world that are “emerging economies” so companies will be interested in building factories in those locations
least cost theory
- Alfred weber
- analyzes locations for the industry
bulk reducing
process objects to make them smaller and cheaper to move(pop in boxes)
bulk gaining
process objects to make them bigger, heavies(pop bottles)
gross domestic product(GDP)
the total value of goods produced and services provided in a country during one year
gross national product(GNP)
measures of the value of goods and services produced by countries citizens both domestically and abroad
gross national income per capita(GNI)
the GNP divided by a country’s population so there is a estimated income per person
formal and informal structures of the economy
- formal is taxed and regulated by the government
- informal is not taxed or regulated by the government(makes up a significant portion of the economy in developing countries)
income distribution
some seemingly wealthy countries can have uneven income distribution