Economic Geography and Urbanization

Practice flashcards focusing on key vocabulary related to economic geography and urbanization.

Factory Towns

Settlements that develop around factories, influenced by economies of scale in production and transportation costs.

Industrial Revolution

A period marked by rapid urbanization due to innovations in manufacturing, transportation, construction, and agriculture.

Urbanization

The process by which an increasing percentage of a population lives in cities and urban areas.

Transfer-oriented industrial firms

Firms that prioritize minimizing transportation costs in their location decisions, processing raw materials into outputs.

Transport Costs

The total expenses involved in moving goods, including procurement and distribution costs.

Procurement Cost

The cost incurred to transfer raw materials from the source to the factory.

Distribution Cost

The expense associated with transporting finished products from the factory to the consumer.