GEOG 1170 Lecture Notes - Lecture 12: Fixed Cost
Document Summary
Primary economic activities: the extraction of raw materials from the earth: mining, agriculture, forestry, fisheries. Secondary economic activities: manufacturing, converting raw materials to a product: factory work. Value added sector : adding labour, time, using energy, skill, artistry, design, creativity, through a time consuming process. Tertiary economic activities: selling the made product: service sector, earns minimum wage, basic laboring jobs. Quaternary economic activities: specialized professionals: doctors, engineers, paid for their efforts. Location characteristics: primary economic activities, jobs only occur at the source of the raw material, mining is more limited than agriculture, ie. Jobs associated with mining must go to the location of the mineral: secondary economic activities, fixed costs, variable costs, bulk reducing materials , ubiquities , pure materials . Weight of product is less than the raw material brought in. Raw material that is found nearly everywhere. Materials that don"t lose weight from raw -> product: source of raw materials .
