Industry Flashcards
What is the primary sector?
Exploitation of raw materials from the land, sea or air
What is the secondary sector?
Manufacturing of primary materials into finished products
What is the tertiary sector?
Providing services to individuals and other businesses
What is the Quaternary sector
Generation and sharing of hi-tech knowledge
What are the inputs into industry?
Raw materials
Capital
Labour
What are the processes of industry?
Packaging
Assembly
Transport
Maintenance
What are the outputs of industry?
Product
Profit
What is the feedback in industry ?
Customers
Profit (investment)
What is weight gain industry?
Makes product which is heavier than the inputs (car manufacturing)
What is weight loss industry?
The output is lighter than the inputs (steel manufacturing)
What is just-in-time manufacturing?
Companies which order components when the customer wants it
What is just-in-case manufacturing?
Companies which stockpile parts just in case they are needed
What is a footloose industry?
Tertiary/Quaternary industry which is not tied to raw materials
