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Chapter 11 Vocab

TermDefinition
industrial revolution A series of improvements in industrial technology that transformed the process of manufacturing goods
cottage industry A traditional type of manufacturing in the pre-industrial revolution era, practiced on a small scale in individual households as a part-time occupation and designed to produce handmade goods for local consumption.
situation factors Location factors related to the transportation of materials into and from a factory.
site factors The physical attributes of a location- its terrain, its soil, vegetation, and water sources
bulk reducing industry An industry in which final product weighs less or compromises a greater value than the inputs
bulk gaining industry An industry in which the final product weighs more or compromises a greater volume than the inputs
single market manufacturers changes in literacy, mortality rates, standards of livings, access to good health care, population growth rates - usual accommonied by economic development.
break of bulk point A location where transfer is possible from one mode of transportation to another .
labor intensive industry An industry for which labor costs comprise a high percentage of total expenses.
capital wealth in the form of money or other assets owned by a person or organization
textiles a type of cloth or woven fabric
right to work law Laws preventing a union and a company from negotiating a contract that requires workers to join a union as a condition of employment.
new international division of labor Transfer of some types of jobs, especially those requiring low-paid less skilled workers, from more developed to less developed countries.
outsourcing The physical separation of some economic activities from the main production facility, usually for the purpose of employing cheaper labor.
vertical integration the combination in one company of two or more stages of production normally operated by separate companies.
maquiladoras Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.
BRICS An acronym for the combined economies of Brazil, Russia, India, China and South Africa. speculates that by 2050 these four economies will be the most dominant
fordist manufacturing process broken down into differentiated components, with different groups of people performing different tasks to complete the product.
post fordist World economic system characterized by a more flexible set of production practices in which goods are not mass produced
just in time delivery An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process
export processing zone Customs area where one is allowed to import plant, machinery, equipment and material for the manufacture of export goods under security, without payment of duty
Created by: amberlague