INDUSTRY TEST

4 types of industry

Primary, secondary, tertiary, quaterny

Primary

Extracts raw materials from natural environment

Secondayr

Processing raw materials into manufactured goods

Teritairy

Support primary and secondary, service sector provides services to consumers

Quaternary

Process of ideas than products providing information services

2 trading partner and product

Canada- exports canola and wood pulp,

China- exports electronics and toys

Main manufacturing of NA

Manufacturing belt, Rust belt

Location factors 3

Raw materials, transportation, location of markets

2 questions

Why is transportation important when choosing a factory location?

How does being close to market lower cost for companies?

Wooden Table

Primary- log trees

Secondary- sawing the timber to planks

Tertiary- transporting to warehouses

Quaternary- designing tables then sold

CUSMA purpose

To promote free trade betwen canada, us and Mexico. To reduce or remove tariffs

Products traded ffrom CUSMA

Autombiles, agriculture products and energy products

Story of stuff main topic

Practices encourage overconsumption, lead to more waste, pollution and resource depletion.

Planed obsoleneces

Products designed to break or wear out after a certan time

Percieved obsolences

Driven by advertisements and trends, just because its new people buy

NAFTA

North American free trade agreement, trade between canada, us nd mexicop

CUSMA

Canada United States Mexico Agreement, the updated version of NAFTA that replaced it in 2020

import substitution

Strategy where a country makes goods at home instead of importing them to reduce dependence on other countrys

Tariff

A tax on imported goods to make foreign prodcuts more expensive and protect local business

Trade deficit

Where a country imports more than it exports, they spend money than it earns from trade

Trade surplus

Country exports more than it imports, make more money from trade than spends.

Protectionism

A government actions protect domestic industries from foreign competitions

Import

A country buys from other countries

Export

Country sells to other country

Free trade

A trade between countries with few or no barriers