part 2

Question 1

Industrialization

Answer 1

The period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organization of an economy for the purpose of manufacturing.

Question 2

Industrial Revolution

Answer 2

The Industrial Revolution, now also known as the First Industrial Revolution, was the transition to new manufacturing processes in Europe and the United States, in the period from about 1760 to sometime between 1820 and 1840.

Question 3

Cottage Industry

Answer 3

Manufacturing based in homes rather than in factories, most common prior to the Industrial Revolution.

Question 4

Site Factors of Industry

Answer 4

These factors result from the unique characteristics of a location. These are labor, capital, and land.

Question 5

Situation Factors of Industry

Answer 5

These factors involve transporting materials to and from a factory. A firm seeks a location that minimizes the cost of transporting inputs to the factory and finished goods to consumers.

Question 6

Bulk-Gaining Industry

Answer 6

Makes something that gains volume or weight during production.
Example: Fabricated Metal Factories; Beverage Bottling Factories

Question 7

Bulk-Reducing Industry

Answer 7

An industry in which the inputs weigh more than the final products.
Example: Copper Mining

Question 8

Just-in-Time Delivery

Answer 8

Shipment of parts and materials to arrive at a factory moments before they are needed.

Question 9

Labor-Intensive Industry

Answer 9

An industry for which labor costs comprise a high percentage of total expenses.

Question 10

Outsourcing

Answer 10

A decision by a corporation to turn over much of the responsibility for production to independent suppliers.

Question 11

Trade

Answer 11

The transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market.

Question 12

Basic Business

Answer 12

A business that sells its products or services primarily to consumers outside the settlement.

Question 13

Business Service

Answer 13

A service that primarily meets the needs of other businesses, including professional, financial, and transportation services.

Question 14

Central Place

Answer 14

A market center for the exchange of services by people attracted from the surrounding area.

Question 15

Central Place Theory

Answer 15

A theory that explains the distribution of services based on the fact that settlements serve as centers of market areas for services; larger settlements are fewer and farther apart than smaller settlements and provide services for a larger number of people who are willing to travel farther.

Question 16

Consumer Service

Answer 16

A service that primarily meets the needs of individual consumers, including retail, education, health, and leisure services.

Question 17

Economic Base

Answer 17

A community’s collection of basic businesses.

Question 18

Hinterland

Answer 18

The area surrounding a central place from which people are attracted to use the place’s goods and services (also known as market area).

Question 19

Market Area

Answer 19

The area surrounding a central place from which people are attracted to use the place’s goods and services (also known as hinterland).

Question 20

Threshold

Answer 20

The minimum number of people needed to support a service.

Question 21

Range

Answer 21

The maximum distance people are willing to travel to use a service.

Question 22

Globalization

Answer 22

A process that links people around the world as a result of shared activities and interests. Fueled by technology and an expanding communication network, globalization creates cultural, social, environmental, health, and economic connections among countries.

Question 23

Import

Answer 23

A commodity, article, or service brought in from abroad (a foreign country) for sale.

Question 24

Export

Answer 24

A commodity, article, or service sold abroad (to a foreign country).

Question 25

Primary Economic Activities

Answer 25

A type of operation or industry that involves extracting or refining natural resources, such as mining, agriculture, forestry, and fishing.

Question 26

Secondary Economic Activities

Answer 26

Economic activities that involve the processing of raw materials (primary products). Examples would include turning timber into furniture and turning iron-ore into steel. Any factory can be seen as a system involving inputs (e.g. timber) processes (e.g. cabinet making) and outputs (e.g. tables and chairs).

Question 27

Tertiary Economic Activities

Answer 27

The tertiary economic activity or service sector encompasses the production of services instead of end goods that meet the needs of individuals.

Question 28

Sustainability

Answer 28

Focuses on meeting the needs of the present without compromising the ability of future generations to meet their needs. The concept of sustainability is composed of three pillars: economic, environmental, and social—also known informally as profits, planet, and people.

Question 29

Fair Trade

Answer 29

An institutional arrangement designed to help producers in developing countries achieve better trading conditions. Members of the fair trade movement advocate the payment of higher prices to exporters, as well as improved social and environmental standards.

Question 30

Free Trade

Answer 30

International trade left to its natural course without tariffs, quotas, or other restrictions.