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Industry Vocab
Question | Answer |
---|---|
industry | a business that mass manufacture finished goods and products. |
profit | The financial gain(money) made from a product or business. |
manufacture | To make something using machinery. |
product | a finished good ready to be sold to consumers. |
textiles | fabric made by weaving, used in making clothing. |
consumer | A person who purchases goods and products for personal use. |
labor | work |
mass production | To make a lot of something quickly and cheaply. |
monopoly | when one seller controls the market and there is no competition. |
invest | to put money towards growing a business or industry. |
capital | money that is invested in business. |
assembly line | An arrangement of machines, equipment, and workers in which work passes from operation to operation in a direct line until the product is finished. |
national market | The domestic marketplace for goods and services in a country. |
natural resources/raw materials | Industrial materials that are supplied by nature |