Industry Flashcards
What is an industry?
Any business activity or commercial enterprise
What is the primary sector of industry?
The exploitation of raw materials from the earth
What is the secondary sector of industry?
The manufacturing of raw materials into finished products
What is the tertiary sector of industry?
The providing of services to individuals and businesses
What is the quaternary sector of industry?
The generation and sharing of hi-tech knowledge
What are the inputs of an industry?
The things required to make the product
What are the processes of an industry?
The events or activities that take place to make a produt
What are the outputs of an industry?
The finished product that is sold to a consumer
What is the capital (inputs of industry)?
Anything connected with wealth or money
What are the raw materials (inputs of industry)?
Unprocessed products used in industry
What is a weight gain industry (location of industry)?
An industry whose products get heavier in the manufacturing process e.g cars
Where is a weight gain industry likely to be located?
Near the marketplace
What is a weight loss industry (location of industry)?
An industry whose products get lighter in the manufacturing process e.g steel
Where is a weight loss industry likely to be located?
Near raw materials
What are advantages and disadvantages of Just-in-time manufacturing?
Ad: Little storage required and less likely to have out of date components
Dis: Need excellent communications with suppliers
What are advantages and disadvantages of Just-in-case manufacturing?
Ad: Never run out of components
Dis: Increase in storage cost, likely to have to throw out old components
What are footloose industries?
Usually tertiary or quaternary industries which aren’t tied to raw materials
What are perishable goods?
Products that go rotten quickly
What human factors impact the location of industry?
Labour, market, capital, supply network, education and healthcare, transport, communications, electricity and water
What physical factors impact the location of industry?
Available, flat and clean land, raw materials, energy supply, climate, transport e.g coast
What is a assembly plant?
A factory where individual parts are put together
What is a break of baulk location?
Where raw materials arrive and are unloaded
What is a production line?
An arrangement of machines or sequence of opertions involved with a production process
What is subsistence farming?
When food is grown just for their own family. Not normally surplus to make money
What is mechanisation?
The process of man power being replaced with machine power
What is a Hi-tech industry?
Industries that focus on research and development
What is conglomeration?
The process of clustering together
What are advantages of a TNC locating in one country?
Creates jobs -> More taxpayers, TNCs pay tax, improves workers skill and education, introduce new tech, infrastructure upgraded
What are disadvantages of a TNC locating in one country?
Many of best paid jobs go to foreigners, poorly paid, economic leakage, mechanisation, TNC products are expensive
What is a formal economy?
The economy that if formally registered with the authorities and regulated by the Gov and will pay tax
What is an informal economy?
The section of the economy that isn’t registered with the Gov and doesn’t pay tax -> Black market
What are advantages of an informal economy?
Money goes to where it is needed, employs people and teaches skills, normally not mechanised
What are disadvantages of an informal economy?
Involved with illegal activities, no tax paid, can cause pollution, exploitation of workers
What are advantages of an formal economy?
Taxes contribute to Gov revenue, workers rights, provides products for export -> Income, less pollution
What are disadvantages of an formal economy?
Higher production cost, avoid dumb people, normally mechanised, dominated by TNCs
What is protectionism?
What Govs use to try and protect domestic industry mainly through tarrifs, quotas and subsidies
What are tarrifs (protectionism)?
A tax placed on foreign imports to make them more expensive
What are quotas (protectionism)?
A limit placed on the amount of foreign imports -> Less expensive and competitive
What are subsidies (protectionism)?
Financial support given to domestic producers to make products cheaper in a loan or grant
What is a trading bloc?
A group of countries joined together to promote trade by removing protectionist policies
What are externalities?
An impact caused by an unconnected event or process. Can be + or -
What is dry deposition?
Pollution falling directly to the surface
What is wet deposition?
Pollution mixing with rain and falling to the earth
What are causes of acid rain?
Industrial pollution, transport fumes, power stations
What are problems caused by acid rain?
Damage to buildings, changing of pH of lakes and soil, damage to vegetation
What are some problems caused by the closure of an industry?
Unemployment, less tax from corporation, suppliers bankruptcy, decline in local shops, migration out of area, inflation, dereliction
What are some solutions to negative externalities?
Gov regulations, appropriate tech, renewable energy
