Industry Quiz

Phenomenon of economic activity congregating in or close to a single location, rather than being spread out uniformly across space.

• Agglomeration

• Bulk-Gaining Industry

• Bulk-Reducing Industry

• Cottage Industry

Home-based manufacturing. An example of this is textile manufacturing.

• Agglomeration

• Bulk-Gaining Industry

• Bulk-Reducing Industry

• Cottage Industry

Economic activity in which the final product weighs less than its inputs.

• Agglomeration

• Bulk-Gaining Industry

• Bulk-Reducing Industry

• Cottage Industry

Industry that makes something that gain volume or weight during production.

• Agglomeration

• Bulk-Gaining Industry

• Bulk-Reducing Industry

• Cottage Industry

model developed by Alfred Weber according to which the location of manufacturing establishments is determined by the minimization of 3 critical expenses: labor, transportation, and agglomeration

• Agglomeration

• Least Cost Theory

• Bulk-Reducing Industry

• Cottage Industry

Type of industry in which labor cost is a high percentage of expense.

• Right To Work State

• Economies of Scales

• Capital

• Labor-Intensive

Wealth, whether in money or property, owned or employed in business by an individual, firm, or corporation.

• Right To Work State

• Economies of Scales

• Capital

• Labor-Intensive

Lower production costs as a result of larger volume of production

• Right To Work State

• Economies of Scales

• Capital

• Labor-Intensive

State that has prevented a union or company from negotiating a contract that requires workers to join a union as a condition of employment.

• Right To Work State

• Economies of Scales

• Capital

• Labor-Intensive

Arrangement of tools, machines, and workers in which a product is assembled by having each perform a specific, successive operation on an incomplete unit as it passes by in a series of stages organized in a direct line.

• Industrial Revolution

• Outsourcing

• Assembly Line

• Cottage Industry