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Industry Review

Industry Review. Types of Economic Activities. Theories of Economic Development- Rostow’s Modernization Theory. Theories of Economic Development- Wallerstein’s Dependency Theory. Weber’s Model for the Location of Industry. Situation Factors . Site Factors .

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Industry Review

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  1. Industry Review

  2. Types of Economic Activities

  3. Theories of Economic Development- Rostow’s Modernization Theory

  4. Theories of Economic Development- Wallerstein’s Dependency Theory

  5. Weber’s Model for the Location of Industry

  6. Situation Factors Site Factors Costs of land, labor and capital Labor intensive industries look for cheap labor • Bulk gaining • Bulk reducing • Single-market manufacturers Footloose industries are so expensive to produce on their own that transportation to and from markets or factories is negligible

  7. Industrial Regions of the World Primary Industrial Regions Secondary Industrial Regions Venezuela, Argentina, Brazil in South America South Africa and Nigeria in Africa Coastal areas and the Ganges River are of India, Malaysia, and southern Australia • Western and Central Europe • Eastern North America • Russia and the Ukraine • Eastern Asia

  8. Economic Organizations • NAFTA- North American Free Trade Agreement- Mexico, US and Canada (helps explain the new international division of labor where some components of products are made in one country and others in another) • The European Union- Most barriers to trade have been eliminated among them members of the EU. Countries that are not a part of the EU (Switzerland and Sweden) rely heavily on trade with the EU countries. • East Asia does not have its own formal organization but it is an important trading bloc.

  9. What is deindustrialization and who is going through it? • More developed countries are decreasing the total number of manufacturing jobs in favor of service industry jobs • The United States and Europe are experiencing this • Japan is joining in this along with the Four Tiger economies (Hong Kong, South Korea, Singapore and Taiwan)

  10. Why are there disparities between countries? What challenges exist for LDCs • Distance from markets • Inadequate infrastructure • Competition with existing manufacturers in other countries

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