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Question 1

Quincey sector

Answer 1

Includes the highest levels of decision-making in a society or economy

Question 2

Multiplier effect

Answer 2

Expansion of economic activity caused by the growth or introduction of another economic activity, ( example, new houses, restaurants, and businesses all built near a new factory to serve the workers)

Question 4

Agglomeration economics

Answer 4

The benefits firms reap by locating in closer geographical proximity to each other

Question 5

Least cost theory

Answer 5

Different factories desire to minimize the cost of transportation and labor, resulting in an increase in agglomeration

Question 6

Locational triangle

Answer 6

The market for a good at one end of triangle to resources at the other, and the factory located in the balance of cost for transportation

Question 7

Bulk reducing industry

Answer 7

An industry in which the final product weighs less or compromises a lower volume than the input

Question 8

Bulk gaining industry

Answer 8

An industry in which the final product weighs more or compromises a greater volume than the inputs

Question 9

Energy oriented industry

Answer 9

Energy, the man for an industry is high so it locates production near power source

Question 10

Labor oriented industry

Answer 10

Very specific skills are needed to do the work so the industry located near universities or trending centers I.E. computer science, medicine, or engineering