Geography - Resources and Industry Test

total stock

all the parts of the natural environment (energy, living organisms, non-living materials)

resource

anything in the total stock which can be used to make goods and services (raw materials, workers, money, land)

natural resources

resources that are found in the natural environment

renewable resources

resources that can be regenerated if used carefully (soil, forests, fish stocks)

non-renewable resources

resources that are limited and cannot be replaced if used up (fossil fuels, minerals)

flow resources

are replaced by natural actions and are lost if not used when and where they occur (sunlight, wind, water currents)

other resources

do not fit into the other 3 categories (Northern Lights, Rocky Mountains, Niagara Falls)

planned obsolescence

* when manufacturers deliberately design a product with a limited lifespan
* the materials and technology used ensure that the product won’t last as long as the consumer might want forcing the consumer to buy more of those products

3 renewable resources

1. farming
2. forestry
3. fishing

mining the resource

* the harvest is more than the amount replenished each year
* stocks are depleted

sustained yield management

* the harvest is equal to or less than the amount replenished each year
* stocks are maintained or increased

aridity index

a value used to show water availability

R/P ratio

* the ratio between the reserves of it and its production
* R stands for reserves and how much of the resource is available
* P stands for production and how much is being take each year

metallic minerals

* a mineral that yields a metal when melted (i.e. iron, gold copper)
* typically comes from igneous and metamorphic rocks

non-metallic minerals

* a mineral that does not change its form when melted (i.e. sand, gravel, diamonds)
* commonly from sedimentary rocks

NIMBY

* stands for “not in my backyard”
* an issue for many Canadians because while they want to see progress and development they usually don’t want it in their own backyard
* example: nobody wants to live near an oil sands refinery, a wind farm or a pipeline but we all want to have reliable access to gasoline and electricity

outsourcing

when a company moves its operation to another country

reasons for outsourcing

* cheaper labour costs
* less stringent labour and environmental controls

primary industry

industry that focuses on producing or extracting natural resources (forestry, agriculture, mining, fishing)

secondary industry

industry that focuses on making things and using the products of primary industries (manufacturing, construction, utilities)

tertiary industry

industry that focuses on providing services (wholesale, entertainment, services)

quaternary industries

* intellectual activities
* government, culture, libraries, scientific research

quinary industries

* highest level of decision making in an economy
* top executives and decision makers in large organizations

trade balance

the difference between the value/ cost of exported and imported goods

basic job

brings money into an economy

non-basic job

circulates money in an economy

multiplier effect

the increase in total wealth or income that occurs when new money is injected into an economy