Chapter 11: Industry Flashcards
Bulk-Gaining Industry
Makes something that gains volume or weight during production
Break of Bulk Points
A location where transfer among transportation modes is possible
Bulk-Reducing Industry
An economic activity in which the final product weighs less than its inputs
Cottage Industry
Home-based manufacturing
Fordist
Where in large factories one worker is assigned one task to perform repeatedly
Industrial Revolution
1750-1800s in Europe, resulted in new social, economic, political inventions and industrial, gradual diffusion of new ideas and techniques over decades
Labor-Intensive Industry
One in which labor cost is a high percentage of expense
Maquiladora
Manufacturing operations in a free trade zone (FTZ), where factories import material and equipment on a duty-free and tariff-free basis for assembly, processing, or manufacturing and then export the assembled, processed and/or manufactured products, sometimes back to the raw materials’ country of origin.
Post-Fordist
The allocation of workers to teams that must perform a variety of tasks
Right-to-Work State
States that have passed laws preventing a union and company from negotiating a contract that requires workers to join a union as a condition of employment
Site Factors
Result from the unique characteristics of a location. Land, labor, and capital are the three traditional production factors that may vary among locations
Situation Factors
Involve transporting materials to and from a factory. A firm seeks a location that minimizes the cost of transporting inputs to the factory and finished goods to the consumers
Textile
Woven fabrics
Trading Bloc
A group of countries that have agreed to trade with each other
