Industry Flashcards

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1
Q

What is an industry?

A

Any business activity or commercial enterprise

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2
Q

What is the primary sector of industry?

A

The exploitation of raw materials from the earth

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3
Q

What is the secondary sector of industry?

A

The manufacturing of raw materials into finished products

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4
Q

What is the tertiary sector of industry?

A

The providing of services to individuals and businesses

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5
Q

What is the quaternary sector of industry?

A

The generation and sharing of hi-tech knowledge

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6
Q

What are the inputs of an industry?

A

The things required to make the product

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7
Q

What are the processes of an industry?

A

The events or activities that take place to make a produt

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8
Q

What are the outputs of an industry?

A

The finished product that is sold to a consumer

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9
Q

What is the capital (inputs of industry)?

A

Anything connected with wealth or money

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10
Q

What are the raw materials (inputs of industry)?

A

Unprocessed products used in industry

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11
Q

What is a weight gain industry (location of industry)?

A

An industry whose products get heavier in the manufacturing process e.g cars

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12
Q

Where is a weight gain industry likely to be located?

A

Near the marketplace

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13
Q

What is a weight loss industry (location of industry)?

A

An industry whose products get lighter in the manufacturing process e.g steel

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14
Q

Where is a weight loss industry likely to be located?

A

Near raw materials

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15
Q

What are advantages and disadvantages of Just-in-time manufacturing?

A

Ad: Little storage required and less likely to have out of date components
Dis: Need excellent communications with suppliers

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16
Q

What are advantages and disadvantages of Just-in-case manufacturing?

A

Ad: Never run out of components
Dis: Increase in storage cost, likely to have to throw out old components

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17
Q

What are footloose industries?

A

Usually tertiary or quaternary industries which aren’t tied to raw materials

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18
Q

What are perishable goods?

A

Products that go rotten quickly

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19
Q

What human factors impact the location of industry?

A

Labour, market, capital, supply network, education and healthcare, transport, communications, electricity and water

20
Q

What physical factors impact the location of industry?

A

Available, flat and clean land, raw materials, energy supply, climate, transport e.g coast

21
Q

What is a assembly plant?

A

A factory where individual parts are put together

22
Q

What is a break of baulk location?

A

Where raw materials arrive and are unloaded

23
Q

What is a production line?

A

An arrangement of machines or sequence of opertions involved with a production process

24
Q

What is subsistence farming?

A

When food is grown just for their own family. Not normally surplus to make money

25
Q

What is mechanisation?

A

The process of man power being replaced with machine power

26
Q

What is a Hi-tech industry?

A

Industries that focus on research and development

27
Q

What is conglomeration?

A

The process of clustering together

28
Q

What are advantages of a TNC locating in one country?

A

Creates jobs -> More taxpayers, TNCs pay tax, improves workers skill and education, introduce new tech, infrastructure upgraded

29
Q

What are disadvantages of a TNC locating in one country?

A

Many of best paid jobs go to foreigners, poorly paid, economic leakage, mechanisation, TNC products are expensive

30
Q

What is a formal economy?

A

The economy that if formally registered with the authorities and regulated by the Gov and will pay tax

31
Q

What is an informal economy?

A

The section of the economy that isn’t registered with the Gov and doesn’t pay tax -> Black market

32
Q

What are advantages of an informal economy?

A

Money goes to where it is needed, employs people and teaches skills, normally not mechanised

33
Q

What are disadvantages of an informal economy?

A

Involved with illegal activities, no tax paid, can cause pollution, exploitation of workers

34
Q

What are advantages of an formal economy?

A

Taxes contribute to Gov revenue, workers rights, provides products for export -> Income, less pollution

35
Q

What are disadvantages of an formal economy?

A

Higher production cost, avoid dumb people, normally mechanised, dominated by TNCs

36
Q

What is protectionism?

A

What Govs use to try and protect domestic industry mainly through tarrifs, quotas and subsidies

37
Q

What are tarrifs (protectionism)?

A

A tax placed on foreign imports to make them more expensive

38
Q

What are quotas (protectionism)?

A

A limit placed on the amount of foreign imports -> Less expensive and competitive

39
Q

What are subsidies (protectionism)?

A

Financial support given to domestic producers to make products cheaper in a loan or grant

40
Q

What is a trading bloc?

A

A group of countries joined together to promote trade by removing protectionist policies

41
Q

What are externalities?

A

An impact caused by an unconnected event or process. Can be + or -

42
Q

What is dry deposition?

A

Pollution falling directly to the surface

43
Q

What is wet deposition?

A

Pollution mixing with rain and falling to the earth

44
Q

What are causes of acid rain?

A

Industrial pollution, transport fumes, power stations

45
Q

What are problems caused by acid rain?

A

Damage to buildings, changing of pH of lakes and soil, damage to vegetation

46
Q

What are some problems caused by the closure of an industry?

A

Unemployment, less tax from corporation, suppliers bankruptcy, decline in local shops, migration out of area, inflation, dereliction

47
Q

What are some solutions to negative externalities?

A

Gov regulations, appropriate tech, renewable energy