Industry Flashcards
Define ‘processes’
The events or activities that take place to make a product
Define ‘outputs’
The finished product that is sold to the consumer
What are examples of physical inputs?
Land, transport, raw materials
What are examples of economic inputs?
Labour force, capital, transport costs, raw material costs, energy costs, TNCs, market
What are examples of social inputs?
Skill levels, traditions
What are examples of political inputs?
Grants, political unions
Give examples of processes
Assembly
Maintenance
Packaging
Transport
What are the three main types of outputs?
Processed goods, components, manufactured goods
Give examples of processed goods
Fruit juices, tea, sugar, tinned fruit, cement, textile yarn (processed agricultural products)
Give examples of components
Car parts, bottles, sheet steel, nuts and bolts (raw materials for other industries)
Give examples of manufactured goods
Cars, clothing, shoes, radios (sold to the public)
What is ‘manufacturing’?
The general term used to describe the secondary sector of economic activity which involves the making of goods
What are processing industries?
Industries based on the direct processing of raw materials
Define ‘inputs’
The things needed to make or create a product. These may be physical or human
What are assembly industries?
Industries based on the routine assembly of products manufactured elsewhere