Unit 7 part 2 quiz

Term: Break-of-Bulk
Definition: A place where goods are transferred between transportation types (like ship to truck or train).
Example: A port city where cargo is unloaded from a ship and put on trucks—like New York City or Rotterdam.

Term: Marketability
Definition: How easy it is to sell something, based on things like demand, competition, and location.
Tip: A luxury handbag is marketable in a rich urban area, but not in a poor rural town.

Term: Bulk-Reducing Industry
Definition: An industry where the inputs (raw materials) are heavier or larger than the final product, so factories are located near resources.
Example: Copper mining or iron smelting—cheaper to transport the smaller finished product than the bulky ore.

Term: Bulk-Gaining Industry
Definition: An industry where the final product is heavier or larger than the raw materials, so factories are near the market.
Example: Soda bottling—water (heavy) is added near customers to save shipping costs.

Term: Containerization
Definition: The use of large standardized containers to transport goods efficiently across ships, trains, and trucks.
Example: Enabled global trade to grow fast—makes loading/unloading easier and cheaper.

Term: Agglomeration
Definition: When businesses from the same industry cluster together to share costs and ideas.
Example: Silicon Valley for tech companies—close together to share suppliers, workers, and innovation.

Term: Maquiladoras
Definition: Factories in northern Mexico near the U.S. border that assemble products for export.
Why it matters: They exist because of cheap labor, NAFTA, and global division of labor (low-skill jobs sent abroad).

Term: Labor Unions
Definition: Groups of workers who fight for better pay and conditions.
Example: Teachers’ unions or auto worker unions.

Term: Right-to-Work Laws
Definition: Laws that make it illegal to require someone to join a union to get a job.
Effect: Common in Southern U.S.—businesses like them because it weakens unions and lowers labor costs.

Term: Consumer Services
Definition: Services that serve people directly.
Examples: Restaurants, hair salons, gyms.

Term: Public Services
Definition: Services that protect or serve everyone in a society.
Examples: Police, firefighters, public schools.

Term: Business Services
Definition: Services that help other businesses operate.
Examples: Accounting firms, banks, marketing companies.

Term: Production Factor – Labor
Definition: The workers needed to produce goods.
Tip: LDCs = lots of labor (often unskilled). MDCs = specialized labor.

Term: Production Factor – Capital
Definition: Money and machines used to produce goods.
Tip: MDCs usually have more capital to invest.

Term: Production Factor – Land
Definition: Natural resources and space needed for factories or farming.
Tip: Includes oil, water, forests, or just a location.

Term: Fordist Production
Definition: Old-school mass production—one worker does one task, usually on an assembly line.
Example: Henry Ford's car factories.

Term: Post-Fordist Production
Definition: Modern, flexible production using skilled workers, teams, and outsourcing.
Example: Tech companies using factories overseas and creative teams in the U.S.

Term: Hotelling’s Law
Definition: Businesses move closer to competitors to fight over the same customers, even if it’s inefficient.
Example: Two ice cream stands move to the center of a beach to get the most people, even if it’s not best for customers.