FREE AP HUMAN GEOGRAPHY AND STUDY GAMES ABOUT

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FREE AP HUMAN GEOGRAPHY AND STUDY GAMES ABOUT

INDUSTRY TERMS EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -55 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Globalization

Answer:

the idea that the world is becoming increasingly interconnected on a global scale such that smaller scales of political and economic life are becoming obsolete

Question 2: Labor Intensive Industry

Answer:

An industry for which labor costs comprise a high percentage of total expenses.

Question 3: Quartnary Quinary Economic Activities

Answer:

economic activities concerned with research, information gathering, and administration

Question 4: Specialty Goods

Answer:

Item that is extraordinary or unique enough to motivate people to make sure an unusual effort to get it.

Question 5: Conglomerate Corporation

Answer:

areas that have specially designed to promote business transactions, and thus have become centers for banking and finance

Question 6: Bulk-gaining industry

Answer:

An industry in which the final product weighs more or comprises a greater volume than the inputs.(locate where the product is going to be sold)

Question 7: Maquiladoras

Answer:

Factories that cheaply assemble goods; the transnational corporations (US) take advantage of them

Question 8: Maquiladora

Answer:

Factories built by the U.S. companies in Mexico near the U.S. border, to take advantage of much lower labor costs in Mexico.

Question 9: Outsourcing

Answer:

Transfer of business components to a third party for reasons such as cheaper labor and easier access to labor.

Question 10: Site Factors

Answer:

Result from the unique characteristics of a location

Question 11: Trading bloc

Answer:

A group of neighboring countries that promote trade with each other and erect barriers to limit trade with other blocs. Three most important trading blocs are Western Hemisphere, Western Europe, and East Asia

Question 12: Spatially Variable Costs

Answer:

Costs that vary or change depending on the location of an industrial activity.

Question 13: Footloose Firms

Answer:

Manufacturing activities in which cost of transporting both raw materials and finished product is not important for determining the location of the firm

Question 14: Rostow's Stages of Development

Answer:

a model of economic development that describes a country's progression which occurs in five stages transforming them form least-developed to most-developed

Question 15: Quinary Economic Activities

Answer:

service sector industries that require a high level of specialized knowledge skill (scientific research, high-level management)

Question 16: Economic Backwaters

Answer:

Regions that fail to gain from national economic development

Question 17: Manufacturing Regions

Answer:

areas that have specially designed to promote business transactions, and thus have become centers for banking and finance

Question 18: Ancillary Activities

Answer:

Economic activities that surround and support large-scale industries such as shipping and food service

Question 19: Fordism

Answer:

System of standardized mass production attributed to Henry Ford

Question 20: Export Processing Zone

Answer:

Areas where governments create favorable investment and trading conditions to attract export-oriented industries

Question 21: Gross National Product

Answer:

The total value of goods and services, including income received from abroad, produced by the residents of a country within a specific time period, usually one year.

Question 22: Deindustrialzation

Answer:

loss of activity in a region

Question 23: Post Fordist

Answer:

Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.

Question 24: Secondary Economic Activities

Answer:

economic activities concerned with the processing of raw materials such as manufacturing, construction, and power generation

Question 25: Purchasing Power Parody

Answer:

Equilibrium exchange rate between currencies to equalizetheir purchasing power. Importance: Shows economic prosperity and creates equzlity in trade.

Question 26: The Rust Belt

Answer:

the manufacturing region in the US that is currently debilitated because many manufacturing firms have relocated to countries offering cheaper labor and relaxed environment regulations