S7 Topic 03 - Economy of Europe Flashcards
Primary sector
Extraction and processing of raw materials
Secondary sector
Transformation of raw material into finished goods
Tertiary sector
Provision of services(Non-tangible goods) instead of end products
Quaternary sector
Advances technology’s (generally in computers and communications), requires advanced education
Fourastie Model / Clarke Model
Shows change in employment structures over time
System
inputs , proccesses and outputs (e.g the agricultural system)
intensive farming
high crop yieldes, using large machinery and chemicals to meet the demand
extensive farming
smaller inputs of labour, quality
commercial
focus on producing crops or lifestock in the market, aiming for profit
agri-business
includes various commercial activities (production,processin,distribution,food processing)
yield
total amount of agricultural output
markets
where (and to whom) goods are sold
sustainability
Practices that meet current agricultural needs without compromising the ability of future generations to meet their own needs
Subsistence Farming
Growing food primarily for personal consumption (little surplus for sale)
Commercial Farming
Agriculture focused on producing goods for sale in markets (profit)
Monoculture
Growing a single crop on a large scale, often for efficiency but with potential environmental risks
Arable farming
growing crops on cultivated land for food etc.
Pastoral farming
Raising livestock or meat, dairy on natural pastures
Mixed farming
Combination of arable and pastoral farming on the same farm
Intensive agruculture
Big farms with high levels of inputs and a focus on quantity of production
Extensive agriculture
Smaller farms or farms more generally with much lower levels of inputs and with a focus on quality (often associated with organic agriculture)
CAP
Common agriculture Policy (1962)- want to secure food supplies for affordable price for consumer
Food security
Reliable access to nutritious food
Food trade balance
is the difference between the value of a country’s exports and imports
Improved Pasture
Dryland perennial grasses that grow with the purpose of grazing livestock
Small inputs
Minimal quantity
Organic (free range)
System of agriculture that doesn’t include the use of fertilizers and pesticides
Environmentally friendly
Not harmful to the environment, something that tries to help the ecosystem
High self-sufficiency
The farm can work on its own and does not required outside input to function.
No fodder in winter
There is no food to feed horses or cow or sheep in the killary farm forcing the to buy it.
Lack of fish
There are no more fish in the wild
Low productivity
Due the less exploitative nature of the farm it will produce less compared to intensive farms
Improved soil
Due to a focus on extensive agriculture the soil it is left in better health
Transnational organisation
an entity that operates beyond national boundaries with the support oa at least one nation
International labour market
an informal employment market that exists globally to meet the supply and demand of talent for multinational corporations
Foreign direct investment
purchase of an asset in another country (investment in another country)
Government/local policies
any policy which may encourage investment in an area or region
Trade hubs
a point at which there is a regular, easy and open market for the purchase and sale of goods with multiple buyers and sellers (think transport and TEN-T)
Human inputs
Labour, skills, enterprise
Relocation
Movement of businesses or factories to another geographic area
Kaizen
continual small improvements in manufacturing and industry to bring about more and more efficiencies
Just-in-time-production
Only produce what is needed, just in time before it is needed. Avoids surpluses and waste.
Alliances
Car companies may work together in order to improve profitibility and decrease costs
Transport
crucial in a sector where location next to raw materials is less important
Hight-technology industries
An industry using or involoving advanced methods and the most modern equipment
Science park
A site of conglomeration of related scientific industries, eg. Campeon (Infineon)
Footloose industries
General term for an industry that can be placed and located at any location without effect from factors such as recousrces or transport
Research / education centres
critical when considering high-tech industries require highl-skilled and specialised workers
Knowledge economy
and economy in wich growth is dependent on the quantity, quality and accessibility of information
Quaternary sector
the industry based on human knowledge
Science park
an area devoted to scientific research or the development of science-based or technological industries
Global connectivity
Innovation Diffusion - the spread of ideas
Conglomeration
When similary activities, industries and companies are grouped together (synonym for aglomeration)
Clustering/agglomeration
Related industries and businesses locating close to each other (synonym for conglomeration)
GDP
Gross domestic product: total output of a country
Employment
The state of being paid for work
Retail
Sale of goods and services to the consumer
Personal services
Commercial services such as catering and cleaning that supply the personal needs of customers
Financial services
Professional services involving the investment, lending, and management of money and assets.
Transport
Service that provides movement for people and goods
Out-sourcing
Providing a service from a cheaper location (e.g a call centre for Deutsche Bahn in India)
Trade services
Can be performed by individuals outside a country: manufacturing, consulting, engineering, finance (e.g the service can be traded or sold beyond a country’s borders)
Non-trade services
Can realistically only be performed by domestic workforce (e.g the service exists and is performed for the benefit of the domestic population)
Tourism
The activity of visiting a region or country not home to the visiting person.
Social sustainability
Specifying and managing both positive and negative impacts of systems, processes, organisations, and activities on people and social life
Economic sustainability
Practices that support long-term economic growth wihtout negativelz impacting social, environmental, and cultural aspects of the community.
Butler’s model
Looks at the way a tourist resort grows and develops over time. It is made up of a number of stages and ends with decline, stagnation or rejuvenation.
Stagnation
With respect to the Butler model, whereby tourism no longer continues to grow nor necline in a region or resort.
Consolidation
The action or process of related tourism businesses being purchases and joined together by a single compnay, e.g two small hotels purchased and turned in to one large Hilton hotel.
Tourism
Travel for leisure, business, or recreational purposes.
Economic sustainability
Ensuring that economic activities are carried out in a way that meets the needs of the present without compromising the ability of future generations to meet their own needs.
Rejuvenation
The act of restoring or renewing something to a more youthful or vigorous state, in the context of the Butler model it is when investment is put in to a tourist resort to encourage growth or a change in market (to increase profits)
Climate
The long-term patterns of temperature, humidity, wind, and precipitation in an area (average over 30 years).
Mass tourism
Tourism on a large scale, typically involving a large number of people visiting popular destinations - most commonly assocaited with negative impacts.
Accessibility
The ease with which people can reach or use a place, service, or resource.
Inputs
(System) Something put into a system or expended in its operation to achieve output or a result.
Outputs
(System) The results or end of a system, e.g in an agricultural system that which is produced.
Environmental impacts
The consequence of action or activity on the physical environment (e.g farming or tourim)
High technology
Those industries that use research and technology to create products of high value e.g. medicines and electronics. • Hi-tech industries are said to be footloose, not tied to a location
Industries
Group of productive enterprises or organizations that produce or supply goods, services, or sources of income.
Footloose industries
refers to an industry that can be located at any place without effect from factors of production such as resources, land, labour, and capital
Research/education centres
Often associated with science parks or high-tech industries as they are a source of highly-skilled and educated labour
State employment
Jobs provided by the government of a country, e.g administration, education etc.
Quartenary activities
The quaternary sector of the economy is based upon the economic activity that is associated with either the intellectual or knowledge-based economy
CBD
Central business district - the most central area of a city where land prices are typically highest and land is at a premium.
Malls
A large, often enclosed shopping complex containing various stores, businesses, and restaurants usually accessible by common passageways
Entertainment services
The provision of non-tangible opportunities for recreation, e.g sport, cinemas, music venues.
Location factors
Factors affecting the location of industries - e.g access to raw materials, land, water, labor, capital, power, transport, and market.
Processes
(System) the elements in the centre of a system whereby things take place or are stored, e.g in an agricultural system harvesting is a process.
