Secondry Economic Activity Flashcards
Inputs
These are things we need to put in at the start
Process
These are the things we do to the inputs to turn them into semi-finished products
Outputs
These are things we have at the end. Finished products
Raw materials
Things the factory needs to set up
Markets
Close to where you will sell your goods and to consumers who will buy it
Transport
Close to road, rail, port and airport
Labour
Work force
Close to both high and low skilled workers
Services
Water, wifi, broadband sewage treatment etc ….
Capital.
The money the company needs to set up.
May require investment from the bank
Government/ Eu policy
Incentives given to companies to set up in Ireland
Preference of locals/owners
Somewhere the owner likes or where they come from.
Locals may not want this as it causes air pollution, nose, traffic and pollution
Heavy industry
In this type of industry the resource materials and goods being made are big and heavy
Light industry
The products being made are small and light. Like electronic devices.
Multi National Corporations (mnc)
These are companies that sell and make their goods in many different countries. Eg. Apple, Coke etc,…
Footloose industry
Footloose industry’s usually locate in industrial estates or business parks. They have no ties!