industry Flashcards
inputs
the physical objects like raw materials or the labour that is needed for the process to take place.
process
the industrial activity that takes place in a factory in order to produce the final product ( activity that converts inputs into outputs)
outputs
the finished product that is sold to the customer, can also be waste products
re-investing
the profit earned is reinvested into capital or shareholders
what is capital
investments in assets like the factory or machinery/ physical necessities needed for the manufacturing to happen)
what is heavy industry
refers to the production of large, heavy goods, often involving significant capital investment and resources, like steel and machinery. ( like shipbuilding)
- considered as traditional industries
light industries
The light industry focuses on producing smaller, lighter goods, often using less capital and labour, such as consumer electronics and textiles.
processing industries
Processing Industries are based on the direct process of raw materials; they’re usually located close to the raw material source.
assembly industries
put together parts and components that were made somewhere else. (a large car assembly will have parts made from all over)
assembly Industries usually have a much wider choice of location and are usually described as Footloose Industries
capital intensive industries
rely on machinery and are very expensive. They have more difficult and precise labour ( automated production)
labour intensive industries
relies on manual work from people so takes longer and needs more people. (clothing and textile industry)
why do tech industries cluster together
are found close together as it makes it easier for them to collaborate on projects that are joint and high skilled workers can move from one company to another more easily.
physical factors that affect location of industry (3)
- flat land
- available land
- availability of raw materials
why does flat land affect the location of an industry
It’s much easier to build on flat land so most industries prefer to construct their factories on flat sites
why does available land affect the location of an industry
If industries are successful, they’ll want to expand close to their main factory so will want space around where they first built to expand