+
Related Flashcards
Cards In This Set
| Front | Back |
|
Production
|
Making of goods and services to satisfy human wants
|
|
Distribution
|
Movement of raw materials and finished products to locations where they are more valuable
|
|
Exchange
|
Change in ownership of goods and services
|
|
Consumption
|
"using up" of goods and services
|
|
Industrial Revolution
|
Series of inventions that brought new uses to energy sources, machines to improve efficiency, and new inventions
|
|
Location Theory
|
Predicting where businesses will or should be located
|
|
Factors of Industrial Location
|
1) market
2) labor 3) power 4) raw materials 5) transportation 6) personal factors 7) government |
|
Losch's Model: Zone of Profitability
|
Manufacturing plants choose locations where they can max profit
|
|
Major Industrial Regions
|
1) western and central Europe
2) eastern North America 3) Russia and Ukraine 4) Japan 5) China |
|
Ruhr Valley
|
Most important industrial area in Western Europe
|
|
Saxony
|
Optical equipment and cameras
|
|
Silesia
|
Mining, steel, chemicals, and autos
|
|
Saar
|
Financial and commercial center
|
|
New England
|
Light manufacturing and ship building
|
|
Mid-Atlantic
|
Steel, chemicals, pharm, finance, communications
|
