Webers Least Cost Theory Jeopardy Template

Creation	Purpose	Applications	Assumptions	Pot Pourri
100 Alfred Weber Who made the Least Cost Theory?	100 To show how the location of manufacturing establishments is determined by the minimization of three critical expenses Why was the model created?	100 Locate closer to the market How could an establishment minimize transportation costs?	100 Numerous competitive single plant firms Name an assumption based on the market	100 Sara Stout What is the full name of our APHG teacher?
200 A triangle What is the shape of the model?	200 Manufacturing establishments Who would benefit from using this model?	200 Find cheap labor How could an establishment minimize labor costs?	200 Transportation costs are a linear function of distance Name an assumption based on transportation	200 Two How many kids does Ms. Stout have?
300 The clustering of people or activities What is agglomeration?	300 An establishment would use this model to determine where to locate in order to minimize the three critical expenses Why would this model be used?	300 Locate closer to the market How could an establishment minimize agglomeration costs?	300 There is infinite demand for a product at a given price Name an assumption based on product demand	300 May 12th What day is our APHG exam?
400 Transportation, labor, and agglomeration What are the three focuses on minimizing cost?	400 Finished product is lighter than raw materials and costs less to transport (Ex: Toothpicks) What is a weight-losing case?	400 Near the market Where would firms with heavier products locate?	400 There is identical production technology everywhere Name an assumption based on production technology	400 Germany What country is the creator of the model from?
500 Raw materials, business, and market What do the three points of the Least Cost Theory model represent?	500 Finished product is heavier than raw materials and costs more to transport (Ex: Cars) What is a weight-gaining case?	500 Where would firms with lighter products locate? Near the source of the raw materials	500 Producers face no risk or uncertainty Name an assumption based on production risk	500 Unit 6: Industrialization and economic development What unit is this model from?

Weber's Least Cost Theory

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