Industry 11 Flashcards
Agglomeration industry
The term agglomeration is an economic term used to refer to the phenomenon of firms being located close to one another. There are a number of components we’ll explore later in this lesson, but for now just remember that agglomeration relates to clusters of population or business activity
Assembly line
a series of workers and machines in a factory by which a succession of identical items is progressively assembled
Break of bulk
the extraction of a portion of the cargo of a ship or the beginning of the unloading process from the ship’s holds
Brownfield
The term applies more generally to previously used land or to sections of industrial or commercial facilities that are to be upgraded. Brownfield land is an area of land previously used or built upon, as opposed to greenfield land, which has never been built upon
Bulk gaining industry
Where materials come out more bulky after manufacturing
Bulk reducing industry
Where material comes out less bulky after manufacturing
Capitol
Capital refers to financial assets or their financial value (such as funds held in deposit accounts) as well as the tangible factors of production including machinery and production equipment used in environments such as factories and other manufacturing facilities
Complimentary
given or supplied free of charge
Cottage industry
Goods produced in ones home
Deindustrialization
Decline of manufacturers
Export processing zone
set up generally in developing countries by their governments to promote industrial and commercial exports
Footloose industry
Footloose industry is a general term for an industry that can be placed and located at any location without effect from factors such as resources or transport.
Fordism
One person in manufacture does all steps in a product
Growth pole
Growth centers are related to the concept of agglomeration. In many ways the American work on growth centers is virtually independent of Perroux and the French literature on growth poles. Albert Hirschman uses the term polarization to refer to the negative impact of a growth pole on surrounding regions
Industrial inertia
describes a stage at which an industry prefers to run in its former location although the main alluring factors are gone. For example, the raw material source is depleted or an energy crisis has emerged
Industrial revolution
Manufacturing begins to be used in an area
Infrastructure
the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise.
Economics of scale
a proportionate saving in costs gained by an increased level of production.
Labor intensive
Industry puts Most of their money into paying employees
Weber’s least cost theory
Leaning heavily on work developed by the relatively unknown Wilhelm Launhardt, Alfred Weber formulated a least cost theory of industrial location which tries to explain and predict the locational pattern of the industry at a macro-scale. It emphasizes that firms seek a site of minimum transport and labor cost.
Location theory
Location theory, in economics and geography, theory concerned with the geographic location of economic activity; it has become an integral part of economic geography, regional science, and spatial economics. Location theory addresses the questions of what economic activities are located where and why
Manufacturing region
A region in which manufacturing activities have clustered together. The major US industrial region has historically been in the Great Lakes (Illinois, Indiana, Ohio, New York, and Pennsylvania) Industrial regions also exist in SE Brazil, Central England, around Tokyo, Japan, and elsewhere.
Market oriented
Industry stays near market
Mass production
Making a lot of a product
Out sourcing
Moving industries to new regions that make more sense
Primary industry
industry, such as mining, agriculture, or forestry, that is concerned with obtaining or providing natural raw materials for conversion into commodities and products for the consumer
Material orientation
Industry being by material
