Industrialization 2

Transportation Systems

• Transportation systems are only for public transit.
• Transportation systems have no impact on the economy.
• Transportation systems are primarily for recreational use.
• Different means

  of transportation

  (trains, cars,

  airplanes, etc.).

Efficient Movement of Goods

• Increased manual labor and reduced transportation costs.
• Fast and best way

  to transport

  goods.

• Emphasis on traditional shipping methods and paperwork.
• Focus on local sourcing and minimal inventory.

What is Sectional Differences ?

• Geography or

  Economic differences

  between different

  sections of the country

• Differences between countries

• Differences on political beliefs

• Differences on temperature according to the region.

What is Government Interference ?

• Government gets

  involved.

• Government does not care

• Government interference is the absence of government in economic activities.
• Government interference is solely about taxation policies.

What is Mass Production ?

• Mass production is the process of creating custom-made products.
• Mass production involves small-scale artisanal manufacturing.
• Mass production refers to the exclusive production of luxury items.
• Making large

  amounts (massive) of a

  product, quickly.

What is a Patent?

• A patent is a document that describes a business plan.
• Copyright or

  ownership

• A patent is a government grant for free public use of inventions.
• A patent is a type of trademark for brand names.

What is Profit ?

• Profit is the total amount of expenses incurred.
• Money you make

  in your business.

• Profit is the sum of all sales made.
• Profit is the total revenue without any deductions.

What is Supply & Demand ?

• The amount of a

  product available

  compared to how

  many people want it.

• Demand is the quantity of a product produced.
• Supply and demand are unrelated concepts.
• Supply is the total cost of a product.

Transcontinental

• Transcontinental is a term used for oceanic travel.
• Transcontinental refers to a type of transportation.
• Across the continent or country.

• Transcontinental means limited to one continent.

What is Environmental Modification

• Environmental modification is the natural evolution of ecosystems.
• Environmental modification refers to the preservation of natural habitats.
• Environmental modification is the study of climate change effects.
• A human-made change

  to the landscape or

  environment