UNIT 4: Industry & Trade - GEO EXAM PREP

TERM: Industry

A collection of businesses with a common line of products or services

(Process of) Making raw material into a finished product

--> large quantities

Term (def. & ex.): Trade Surplus

When a country sells more goods and services to other countries (exports) than it receives from them (imports)

--> export > import

- Canada and the United States

Term (def. & ex.): Trade deficit

When a country buys more goods and services from other countries (imports) than it sells them

(exports), it causes a "negative balance" of trade.

---> import > export

- Canada with China

Term (def. & ex.): Protectionism

A government policy that restricts imports in pursuit of shielding local businesses and workers

from foreign competition. *repeatedly proven ineffective and harmful in long-term settings

- Trump's actions in 2026

*****Term (def. & ex.): NAFTA

Standing for the North American Free Trade Agreement, is an agreement between the United States, Canada, and Mexico to allow free trade amongst the three major countries.

- Specific previous system used by Canada, the (not-so-)United States, and Mexico

*****Term (def. & ex.): CUSMA

Standing for the Canada-United States-Mexico Agreement, is a free trade deal amongst the

United States, Canada, and Mexico. (Replaced NAFTA)

- NEWER specific previous system used by Canada, the (not-so-) United States, and

Mexico

All 4 Industries

Primary - Raw materials (farm)

Secondary - Raw processed into product (manufacturing)

Tertiary - Service sector (grocery store)

Quatemary - Intellectual/Info services (software development)

---> Prince Samual Twirlled Quietly

Industry 1

Primary Industry:

Extracts raw materials from the natural enviornment

- Farming, mining

Industry 2

Secondary Industry:

Involves processing of primary industry products INTO finished goods most important sector is manufacturing

- Manufacturing, construction

Industry 3

Tertiary Industry:

Services that support primary and secondary industries -> "service sector" (for consumers)

- Grocery store!

Industry 4

Quatemary Industry:

Processing of ideas rather than products -> intellectual industries providing information services

- Research, software development

Location Factors

Raw Materials

Transportation

Fresh Water & Power

---> Rain Made Two Flowers With Petals

Location Factor 1 - Raw Materials

Some industries MUST be near raw materials (essential)

- Forest/Lumber Industry -> Near FOREST

Location Factor 2 - Transportation

Factors are often built near railways, highways, airports, etc., to move goods between places (back/forth)

- Major port cities like Vancouver (overseas shipping)

Location Factor 3 - Fresh Water & Power

Consistent, affordable access to water & electricity is crucial to operate machinery

---> Hydro-Electric Generators (dams)

Planned Adolescence

Business strategy where manufacturers deliberately design products to have a limited lifespan, they are "planned" to break, so you will/have to buy more

---> Fast Fashion Products (Shein, Temu)

Percieved Adolescence

Psychological drive to replace a perfectly functional product simply because it is deemed unfashionable or "outdated"

---> Fashion/Trendy Houseware

Main North America Manufacturing Regions

Great Lakes & Midwest

American South

Southern Ontario & Quebec

Northern Mexico

Ohio Valley

---> Good Luck My Amazing Sheela! She Otta' Quit Nagging Men On Venmo

Great Lakes + Midwest ("key industries")

- Automotive (manufacturing)

- Heavy machinery

- Steel

American South ("key industries")

- Automotive (assembly)

- Aerospace chemicals

Southern Ontario & Quebec ("key industries")

- Automotive Assembly

- Food & Beverage Processing

Northern Mexico ("key industries")

- Electronics

- Biotech

- Food processing