Unit 7, 42 words Flashcards
the process of using machines and large-scale processes to convert raw materials into manufactured goods
industry
the basic substances such as minerals and crops needed to manufacture finished goods
raw materials
a place where products are sold
market
small home-based businesses that made goods
cottage industries
resulted in more complex machinery driven by water or steam power that could make products faster and at lower costs than could cottage industries
industrial revolution
this is where industrialized regions were often found. STRETCHES across the mid latitudes of the Northern Hemisphere.
Industrial Belt
a process of decreasing reliance on manufacturing jobs
deindustrialize
regions that have large numbers of closed factories
rust belts
extracting natural resources from the earth
primary sector
making products from natural resources
secondary sector
providing information and services to people
tertiary sector
managing and processing information
quaternary sector
creating information and making high-level decisions
quinary sector
the potential of a job to produce additional jobs
multiplier effect
to explain the key decisions made by businesses about where to locate factories.
least cost theory
the spatial grouping of several businesses to share costs
agglomeration economics
Weber’s model can be shown with a… THE three points of the triangle are the market for a good and two resources needed to make the good
location triangle
When raw materials lose bulk during processing. These types of industry are also known as weight-losing, raw material-oriented, or raw-material- dependent industry
bulk reducing industry
these factories usually locate close to the market and are considered… (Weight gaining, market-oriented, or market-dependent industries).
bulk gaining industries
highly dependent on a workforce and will want to be near a source of those workers.
labor-oriented industry
the procedure of transferring cargo from one mode of transportation to another.
break of bulk
the system in which goods are loaded into a standardized shipping unit
containerization
they can be carries on a truck, train, ship, or plane.
intermodal
they can pack up and leave for a new location quickly and easily
footloose
designed to impress clients
front offices
when the company decided to locate the rest of its employees in less expensive office spaces
back offices
the dollar amount of all goods and services produced by a country’s citizens in one year is measured in the
GNI and GNP
the dollar amount of all final goods and services produced within a country in one year is the
GDP
profits from a foreign-owned company were leaving the country and going back to the home country
remittances
amount per person
per capita
a measure of what similar goods cost in different countries
purchasing power parity (PPP)
portion of the economy that is monitored by government
formal sector
portion of the economy that is NOT monitored by government
informal sector
one measure of the distribution of income within a population is the
gini coefficient
the amount of years a person is expected to live
life expectancy
percentage of population that can read and write
literacy rate
differences in the privileges afforded to males and females in a society are
gender gap
composite measure of several factors indicating gender disparity
GII
combines one economic measure (GNI per capita) with three social measures (life expectancy, expected years of schooling, and average years of schooling)
HDI
empower women to find jobs outside the home
NGO
provide loans often to women to start or expand a business
microcredit
