Industrial system Flashcards
What is industry?
Economic activity involved in extraction, production and distribution of goods and services
What is primary industry?
Extraction of raw materials from the land or sea or the growing of raw materials
What is secondary industry?
Processing and manufacturing of goods from raw materials e.g. car manufacturing industry
What is tertiary industry?
Providing services e.g. teachers, doctors, taxi drivers, retailing
What is quaternary industry?
Using technology, research and development e.g. biotechnology, smartphones
What physical factors affected the location of industry in the nineteenth century?
Natural routes, power/energy , raw materials, site and land
What (8)human factors mostly affect modern industries?
Transport, labor, capital, money, economies of scale, government policies, improved technology, leisure facilities.
How can an industry boost its profits?
Keeping its costs low by locating where transport costs are low, profits are high and there is a low cost of production