Economic Geography

a business or manufacturing activity carried on in a person's home

• Cottage industry

• Outsourcing

• basic economic activity

• commodities

the reduction of manufacturing in an economy

• agglomeration of economies

• deindustrialization

• least cost theory

• microcredit

the transition from creating goods by hand to using machines

• non basic economic activity

• primary sector

• industrial revolution

• break of bulk point

Which about economic sectors is true?

• Most LDCs jobs are quanternary

• Primary is most developed and quinary is least developed

• The primary sector is manufacturing and processing

• Most LDCs jobs are primary

industry is situated within the area where the costs of transporting raw materials and the final output are minimal

• least cost theory

• offshoring

• world systems theory

• Agglomeration of economies

a localized economy in which a large number of companies, services, and industries exist in close proximity to one another and benefit

• commodities

• agglomeration of economies

• maquiladors

• growth poles

An example of a bulk reducing product is a _____ and an example of a bulk gaining product is _____.

• automobile manufacturing, chemical manufacturing

• Coca cola, meat packing

• copper, Dr Pepper

• ethanol, meat packing

What is an example of a break of bulk point?

• rail station

• a neighborhood

• Highway
• Train station

What is the difference between GNP and GDP?

• GNP measures the total economic output inside a country's borders, while GDP measures the total economic output of a country's residents.

• There is no difference

• GNP includes the value of goods produced from only inside the country, while GDP does not.

• GNP measures the economic output of a country's people, no matter where they are located, but GDP measures the total economic output inside a country's borders.

What does PPP stand for?

• Personal Protection Plan
• Purchasing Power Parity

• Public-Private Partnership
• Point-to-Point Protocol