UNIT 7 - INDUSTRIAL AND ECONOMIC DEVELOPMENT PATTERNS AND PROCESSES

Question 1

INDUSTRIAL REVOLUTION

Answer 1

Improvements to and advancements in industrial technology.
- the process of using machines and large-scale processes to convert raw materials into manufactured goods.

Question 2

PRIMARY ECONOMIC SECTOR

Answer 2

Jobs and activities that directly extract materials from earth through agriculture, mining, fishing, or forestry.

Question 3

SECONDARY ECONOMIC SECTOR

Answer 3

Manufacturers that process, transform, and assemble raw materials into products

Question 4

TERTIARY ECONOMIC SECTOR

Answer 4

Provides services to people
Ex. retail, sales, automotive repair, plumbing, restaurants

Question 5

QUATERNARY ECONOMIC SECTOR

Answer 5

Knowledge based sector including research, development, business consulting, financial services, education

Question 6

QUINARY ECONOMIC SECTOR

Answer 6

Highest level of decision making, top officials in government and business

Question 7

LEAST COST THEORY

Answer 7

Predict location of manufacturing site relative to location of resources needed to produce the product .

Question 8

BULK REDUCING INDUSTRY

Answer 8

(Material oriented) Raw materials are heavier than final product (ex. copper, coal)

Question 9

BULK GAINING INDUSTRY

Answer 9

(market oriented) Final product is heavier than raw materials (Ex, Soda, cars)

Question 10

BREAK OF BULK POINT

Answer 10

Might be better to break raw materials into smaller parts before shipping them. The location where transfer among transportation modes is possible.

Question 11

WEBER’S LEAST COST MODEL

Answer 11

Factory owners think about three things when deciding on a location.
Ex. transport costs, labor costs, and agglomeration economies.