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Chapter 11 Vocab
| Term | Definition |
|---|---|
| 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
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