key words for sec economic activitys Flashcards
(9 cards)
What does ‘input’ refer to?
Everything you put in at the start to make your product, such as electricity and materials.
What is ‘process’?
Anything you do to the raw materials, like bending, melting, or baking.
What is ‘output’?
The product that comes from the inputs and processes, ready to be sold.
What characterizes light industry?
Easily transportable, light raw materials.
What is ADA?
A program that helps companies get grants and investors.
What characterizes heavy industry?
Hard to transport, often requires proximity to ports, and involves heavy raw materials.
What is capital intensive?
Expensive to start and run, requiring costly machinery.
What does labor intensive mean?
Requires a lot of people to operate, often in factories.
What does ‘footloose industry’ imply?
The location does not affect the operations of some industries; they are not tied down.
