Basic vs. Non-basic Industries, or Why a Slow Down in the Oil Industry Affects the Hairstylist
Episode description
Economic Geography - In this episode of the Byte-Sized Human Geography Podcast, we examine basic vs. non-basic industries and the impact of each on a city or region. With the collapsing service sector of the economy, seeing the relationships between seemingly unrelated industries is critical to understanding the skyrocketing unemployment rates due to the coronavirus. This is Human Geography byte-sized - big concepts in small chunks of time for all learners at every level. It's Human Geography, made simple!
Listener Notes:
Basic Industries - economic foundation for a city; brings money to an urban area from outside the urban area; large auto, steel, computer, tourism, energy industries; have a large multiplier effect
Non-basic Industries - shifts money within the city, but doesn’t bring money from outside the city; “recycled” money; closed system; auto repair, grocery stores, personal services
Resources:
UH Bauer School Houston Economic Outlook
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