Question

Match the term to the most correct definition:

The reason for a city's existence along with its future growth or decline, what it offers that other cities do not, and what attracts business and people:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

Resources in the production process (such as capital, labor, and raw materials) that are used by businesses to produce products:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

The phenomena whereby firms will tend to locate near each other because of shared inputs or information (which benefits their production):

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

Activities that produce goods and services for consumption outside the community, and drive the local economy:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

Activities that produce goods and services for the local economy, and circulate money that is already in the local market:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

The classification system used by the Bureau of Economic Analysis to identify different industries:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

The ratio of total employment to estimated basic employment in a community, which is used to estimate the impact of additional basic jobs:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

An analytical statistic that measures a region’s industrial specialization relative to a larger geographic unit (usually the nation):

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

A method compares community level employment information, not to the nation, but to other communities of similar size:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

A condition that leads to over-estimated multipliers in states like Florida where a large amount of the population is retired and spending income that was not earned there:

      [ Choose ]            location quotient            comparative advantage            agglomeration economies            factors of production            NAICS            basic employment            non-basic employment            transfer income            minimum requirement            economic base multiplier      

Answer 1

The reason for a city's existence along with its future growth or decline, what it offers that other cities do not, and what attracts business and people

1)Basic Employment

All these together accounts for growth or decline of a city.All these form part of industrialization II .All the things combined together help a city to develop and provide all essential requirements to the citizens.

2)Resources in the production process (such as capital, labor, and raw materials) that are used by businesses to produce products:

factors of production.

3)The phenomena whereby firms will tend to locate near each other because of shared inputs or information (which benefits their production):

Agglomeration economies,If certain area is specialised in the production of a certain type of good or services , all the firms in that area can benefit from various factors such as: Good supply networks.

4)Activities that produce goods and services for the local economy, and circulate money that is already in the local market

Minimum Requirement

5)The classification system used by the Bureau of Economic Analysis to identify different industries:

NAICS

6)The ratio of total employment to estimated basic employment in a community, which is used to estimate the impact of additional basic jobs:

Economic base multiplier

7)An analytical statistic that measures a region’s industrial specialization relative to a larger geographic unit (usually the nation):

location quotient

8)A condition that leads to over-estimated multipliers in states like Florida where a large amount of the population is retired and spending income that was not earned there:

Transfer Income