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TermDefinition
industrial revolution mid-1700s rapid growth in the use of machines in manufacturing
fordism standard mass production/ assembly line
primary sector concerned about raw materials being extracted from the earth
secondary sector concerned about the manufacturing of raw materials/pollutions
tertiary sector portions of the economy included in selling goods and services
Quaternary sector Portion of the economy included in high tech, education, research, development
multiplier effect the creation of one job opens many jobs opportunities
agglomeration economies cluster of economic activities like factories for low operation costs
least cost theory Alfred weber said labor, transportation, and agglomeration determines the location of manufacturing
bulk-reducing industry weights less after manufacturing
bulk-gaining industry weights more after manufacturing
just-in-time delivery materials arrive before needed or just in time
footloose industry can be wherever whenever they want, usually for cheaper labor
front office expensive office, top dogs
offshoring Corporation turns over PRODUCTION in cheaper places
outsourcing corporation turn over BUISNISSES RESPONSIBILITIES to cheaper places
barter no money so trading items- nedo for nedo
comparative advantage on country can produce something at a lower cost than another country
trading bloc group of countries that promote trade
NIC-newly industrialized country going from agriculture to manufacturing
transnational corporation sells products in many different countries
neocolonialism bigger countries taking advantage of smaller countries
beak -of-bulk point materials use different methods to get to its final destonations-train to truck
EPZ-exporting process zones international companies can work in places with tax and other benefits
Maquiladora us making factories in Mexico/taking advantage for lower price
postindustrial society relies on high tech/service oriented jobs
deindustrialization Loss of industrial activity in a region.
rust belt
Created by: 100109276
 

 



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