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Economy and Industries: Types and Characteristics

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52 Questions

What is the primary focus of all economic activities?

Obtaining and utilizing resources necessary for survival

How do secondary activities add value to natural resources?

By transforming raw materials into valuable products

What is the common characteristic of manufacturing processes?

Application of power, mass production, and specialized labor

What is the role of manufacturing in producing commodities?

To produce standardized commodities

What is the difference between manufacturing in developed and Third World countries?

Manufacturing in Third World countries may be more primitive

What are the industries involved in secondary activities?

Manufacturing, processing, and construction (infrastructure) industries

What type of industries have global markets?

Aircraft manufacturing and arms industry

Why are industries based on cheap, bulky and weight-losing materials located close to the sources of raw material?

To reduce transportation costs.

What is an important factor in the location of industries that use perishable raw materials?

Perishability

Why are agro-processing and dairy products industries located close to the sources of farm produce or milk supply?

To minimize transportation costs and ensure freshness of raw materials

What is an important factor in the location of industries that require skilled labor?

Access to labor supply

What has reduced the dependence of industries on labor?

Mechanization, automation, and flexibility of industrial processes

Why are industries that use a lot of power located close to the source of energy supply?

To reduce energy costs and increase efficiency

What is essential for the development of industries?

Speedy and efficient transport facilities

What is the importance of communication in industries?

For the exchange and management of information

What is the purpose of government 'regional policies'?

To promote 'balanced' economic development

What is the main characteristic of modern large-scale manufacturing?

Production of large quantities of standardised parts by each worker performing only one task repeatedly.

What is the main advantage of specialisation of skills in modern manufacturing?

Produce more goods with less effort and low costs.

Why do large-scale industries choose different locations?

To maximise profits by reducing costs, particularly by locating at points where production costs are minimum.

What is the most important factor in the location of industries?

Access to a market for manufactured goods.

What is the meaning of 'manufacturing' in the context of industry?

A process which involves transforming raw materials into finished goods of higher value for sale.

What is mechanisation in the context of manufacturing?

Using gadgets to accomplish tasks, with automation being an advanced stage of mechanisation.

What is the role of technological innovation in modern manufacturing?

To improve quality control, eliminate waste and inefficiency, and combat pollution.

What is the characteristic of modern manufacturing that involves the use of complex machine technology?

Extreme specialisation and division of labour.

Why are major concentrations of modern manufacturing found in a few areas?

These areas provide large markets and have high purchasing power.

What is the difference between 'manufacturing' and 'manufacturing industry'?

Manufacturing refers to the process of transforming raw materials, while manufacturing industry refers to a geographically located manufacturing unit.

In a capitalist economy, who owns the factors of production?

Individuals

What type of industry produces raw materials for other industries?

Basic Industries

What is the main difference between primary and secondary activities?

Primary activities involve extracting natural resources, while secondary activities involve processing and manufacturing these resources.

What do forests provide as raw materials for various industries?

Timber, wood, bamboo, grass, and lac.

What is a characteristic of modern industrial activities in developed countries?

High-tech industries are often located in peripheral areas of major metropolitan centers.

Why is Africa, despite its immense natural resources, industrially the most backward continent?

Lack of development and investment in industries

What are the products obtained from animals for industries?

Leather, wool, and ivory.

What is the purpose of surveying factory-made goods used by students and staff in a school premises?

To understand the use of industrial products in daily life

What are basic industries?

Industries whose products are used as raw materials to make other goods.

What are the characteristics of high-tech industries?

Application of intensive research and development, highly skilled workforce, and advanced scientific and engineering character.

What are consumer goods industries?

Industries that produce goods consumed directly by consumers.

What are technopolies?

High-tech industries that are regionally concentrated, self-sustained, and highly specialized.

What are the examples of high-tech industries?

Robotics, computer-aided design, electronics, and pharmaceuticals.

What are the types of industrial ownership?

Public, private, and joint sector.

What is the significance of manufacturing in the world economy?

Manufacturing contributes significantly to the world economy.

What are the features of high-tech industrial landscape?

Neatly spaced, low, modern, dispersed office-plant-lab buildings.

What kind of products are produced in the household industry sector?

Foodstuffs, fabrics, mats, containers, tools, furniture, shoes, and figurines from wood, lot and forest.

What is the key difference between household industries and small-scale manufacturing?

Production techniques and place of manufacture (a workshop outside the home/cottage of the producer).

What are the main features of large-scale manufacturing?

Large market, various raw materials, enormous energy, specialized workers, advanced technology, assembly-line mass production, and large capital.

How are industries classified based on raw materials used?

Agro-based, mineral-based, chemical-based, forest-based, and animal-based.

What is agro-processing, and what are some examples of agro-processing industries?

Agro-processing involves processing raw materials from the field and farm into finished products, examples include food processing, sugar, pickles, and textiles.

What is the difference between agro-processing and agri-business?

Agro-processing is the processing of raw materials into finished products, while agri-business is commercial farming on an industrial scale.

What are some examples of mineral-based industries?

Iron and steel industries, aluminium, copper, and jewellery industries, cement and pottery industries.

What is the role of natural minerals in chemical-based industries?

Natural minerals are used as raw materials, for example, mineral-oil (petroleum) is used in petro-chemical industry.

What is the significance of small-scale manufacturing in countries like India, China, and Indonesia?

It provides employment and raises local purchasing power.

What is the characteristic of large-scale manufacturing in terms of its location?

It is often clustered in a few more developed countries, with traditional large-scale industrial regions and high-technology large-scale industrial regions.

Test your understanding of different types of economies, including capitalist, socialist, and mixed economies, and their characteristics. This quiz also covers various types of industries, such as cottage industries, basic industries, and footloose industries.

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