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Chapter 11 Vocab
|A series of improvements in industrial technology that transformed the process of manufacturing goods
|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.
|Location factors related to the transportation of materials into and from a factory.
|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.
|wealth in the form of money or other assets owned by a person or organization
|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.
|The physical separation of some economic activities from the main production facility, usually for the purpose of employing cheaper labor.
|the combination in one company of two or more stages of production normally operated by separate companies.
|Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.
|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
|manufacturing process broken down into differentiated components, with different groups of people performing different tasks to complete the product.
|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