!Chapter 12 - Industries ...or something like that Flashcards
The use of services produced and managed on a collective basis.
Collective consumption
Loss of manufacturing activity and related employment; generally used in reference to traditional manufacturing regions in the more developed world
Deindustrialization
Industrial area with special incentives set up to attract foreign investors, in which imported materials undergo some degree of processing before being re-exported.
Export-processing Zones
A social and economic system prevalent in Europe prior to the Industrial Revolution; land was owned by the monarch, controlled by lords, and worked by peasants who paid rent for the land and were subject to the lords’ authority.
Feudal
Industrial technologies, labour practices, relations between firms, and consumption patterns that are increasingly flexible.
Flexible accumulation
A highly organized system of industrial production and labour introduced by Henry Ford in the 1920s, including the mass-production assembly line; broad societal benefits including higher wages and shorter working hours resulted in unprecedented growth in consumer spending.
Fordism
The process that converted a fundamentally rural society into an industrial society, beginning in England around 1750; primarily a technological revolution associated with the harnessing of new energy sources and the use of machinery to replace manual labour; associated with societal, demographic, political, economic, and urban change.
Industrial Revolution
The outsourcing of work to another country; usually involves companies in more developed economies shifting work to less developed economies
Offshoring
A business practice of paying an outside firm to handle functions previously handled inside the company (or government) with the intent to save money or improve quality
Outsourcing
A global industrial system that has emerged since about 1970 and is characterized by flexible production methods; facilitated by transnational corporations and the practice of outsourcing, many former industrial regions have seen significant industrial decline, and newly industrializing countries have emerged in their place
Post-Fordism
Economic activities involving the identification and extraction of the world’s natural resources, such as mining, fishing, forestry, and agriculture
Primary activities
The development of new industrial activity in a region that has earlier experienced substantial loss of traditional industrial activity.
Reindustrialization
The process of returning the production and manufacturing of goods back to the company’s original country, usually in the more developed world; the opposite of offshoring; sometimes referred to as onshoring, inshoring, or backshoring.
Reshoring:
economic activities involving the processing, transforming, fabricating and assembling of raw materials (or secondary products) into finished goods; sometimes referred to as industrial activities; generally include activities such as manufacturing, food processing, and construction
Secondary activities
Products made from raw materials and used in the manufacture of finished products, such as steel, plastic, flour, and textiles
Secondary products
