Industry

By Christian Horn
STUDY
PLAY
Break of Bulk Location
A location which takes its advantage from a position where there is a forced transfer of raw material or goods from one mode of transportation to another.

e.g. Costal point or loading dock
Brownfield Site
An inner-city derelict (run-down) site which can be cleared and reused for new industry.
Business Parks
Locations of high-tech industries such as electronics and research institutions. They are mainly found on the edge-of-city greenfield sites.
Capital
Wealth created for use in the production of further wealth.
Commodity
Products produced for export.
Containerization
Goods vein packed into large metal boxes for transport by road and/or sea.
Division of Labor
Increased productivity gained when workers specialize in one particular part of manufacturing.
Exports
Goods sold abroad.
Feedback
The reinvestment of some of the profits into new inputs within the factory system.
Footloose Industry
An industry which could set up in many different location, which is not tied to a fixed location, due to cheap labor or government incentives.
Globalization
The is a process of international integration becoming apparent through the interconnection and interdependence of the population enabling the transportation of money, ideas, products etc.
Government Incentives
Motivation (such as grants, labor subsidies, tax-free periods, rent-free periods etc.) attracting companies and people to develop the industry in specific sectors.

e.g. Electric Cars in Norway receive free parking, ability to drive in the bus lane, and electric chargers throughout Oslo.
Greenbelt
A zone of farmland, parkland or open countryside which surrounds and urban area preventing urban sprawl.
Greenfield Site
An industrial site often located no the edge, previously used for farming etc.
Gross National Product (GNP) per capita
The total value of goods produced and services provided by a counter in a year, divided by the tool number of people liven in the country.
Heavy Industry
One with heavy/bulky raw materials and heavy/bulky finished products.

e.g. Iron and Steel
Imports
Goods bought from abroad.
Informal Sector
An industrial sector made up of work done without any official knowledge of the government and therefore without paying taxes.

e.g. Usually found in LEDCs
Infrastructure
The facilities which provide the essential framework for industries (growing or developed).

e.g. Roads, power supply etc.
Inputs
The things needed to run a factory or an industry.

e.g. Capital, raw materials, power etc.
Labor-intensive
Industries where labor costs are high compared to capital costs.

e.g. Clothing
Light Industry
Manufacturing industry which has light are materials and components as well as light products.
Machinery
Used in industrial processes to produce the finished products for sale (manufacturing).
Market
Where industrial products are bought and sold.
Minerals (found in rocks)
They be mined or quarried and then either melted down like iron ore or bauxite (aluminum), or used as a source of power (coal, oil).
Multiplier Effect
The "snowballing" of economic activity. The expansion of a country's money supply that results from banks being able to lend.

e.g. New Jobs-People make money-Spent in stores-Stores spend THAT money for produce- Resulting in more jobs and money and the bettering of education.
Natural Routes
River valleys and flat areas were essential before railways, cars, or lorries.
Newly Industries Country (NIC)
Developing manufacturing industries, usually with the help of Trans-national Corporations attracted by cheap labor and government incentives.

e.g. LEDCS such as India or Brazil
Outputs
Products from a factory system, which include pollution and waste.
Overseas Competition
NICs have the advantage of cheap labour, expanding national markets and the newest technology. This has led to a global shift of manufacturing industry towards South-East Asia.
Peripheral Region
An area of the fringe of economic activity.

e.g. Poor backward region of a country (India)
Power
This is needed to work machines in the factory. Today, electricity can be transported long distances and size and location of markets have become more important as a location factor.