GEOG101 Chapter Notes - Chapter 16: Affluenza, Deterritorialization, Conspicuous Consumption
Document Summary
Chapter 16 geographies of producion and consumpion. 16a growth of mass producion and an industrial world. Producion creates an object that is more valuable than the sum of the raw materials going into it. Value added: the diference between the price of the inal product and the cost of raw materials, labor, and other inputs. Most of human history, producion occurred in small workshops. Industrial technologies required an enormous amount of inancial capital, or money. 16b factors of producion and changing geographies of industrial locaion. Manufacturing is a producion chain that transforms raw materials into a inished product, then distributes that product for consumpion by households, government, or other industries. Raw materials: materials needed to make the product. Labor: the workers needed for the producion process. Financial capital: the money needed to inance the producion process. Markets: the households, irms, or governments that will purchase the inal product: indirect factors. Technology: the nature of machinery in the producion process.