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Economic Development (1st year, summer) > Chapter 6 > Flashcards

Chapter 6 Flashcards

1
Q

One of the key factors of economic growth and development, not to mention the proper use of natural resources, utilization of real or physical assets, and emoloyment of labor or the population

A

Industrialization

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2
Q

Includes regulation of economic activities of an institutional frame (government)

A

Industrialization

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3
Q

In the 18th and 10th centuries, ? and ? in the ? resulted in the mass production minimizin the use of resources (inputs) like materials and labor

A

Europe, the great depression, US

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4
Q

Asian Giants

A

China and India

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5
Q

Asian Tigers

A

Singapore, South Korea, Taiwan, and Hong Kong

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6
Q

Asian cubs

A

Indonesia, Vietnam, Malaysia, Thailand, and the Philippines

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7
Q

The ever-increasing demand of people for more goods led the way to invent many things that can be used in the production of more products

A

First Industrial Revolution

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8
Q

Mid ?, ? colonized ?, there had been a massive transfer of materials and labor and inventions of machines that can be used to create products from textiles

A

1700s, Britain, India

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9
Q

to increase food and thereby taken into consideration the more efficient way to produce agricultural products

A

Essential factor of industrialization

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10
Q

very influential in their innovation in terms of producing new crops and breeding animals to yield more that what was normal

A

Agriculturists

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11
Q

science of animal husbandry

A

Robert Bakewell

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12
Q

seed drill

A

Jethro Tull

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13
Q

primary energy resources and led the way to the development of steam engines to be used for more operations n factories

A

Iron and coal

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14
Q

contributed to the enhancement of stea engines by introducing separate condenser and double-ating piston motion

A

James Watt

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15
Q

There was a lot of black smoke found in factories and trains from burning coals, ______.

A

the earmark of the industrial age

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16
Q

In the process of making use of ?, ?, and ? were put together to produce interchangeable parts that would make production faster and more efficient

A

wood, iron, and steel

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17
Q

Hydraulic press

A

Joseph Bramah

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18
Q

lathe slide rest and pattern screw

A

Henry Maudslay

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19
Q

Use of dividing engine

A

Jesse Ramsden

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20
Q

These led to produce machines by machines, mechanization to production to industrialization

A

Use of dividing machine

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21
Q

First Industrial Revolution took place during

A

1700s to the mid 1800s

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22
Q

Learning-by-producing and the Geographical links between invention and production: experience from the second industrial revolution

A

Second Industrial Revolution

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23
Q

The second industrial revolution brought about the so called ?

A

“modern life”

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24
Q

Immense sharing of science and technology, like the canning of food to the study of bacteria

A

Second Industrial Revolution

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25
Q

Nature has been vastly studies and used for the production of goods and services

A

Second Industrial Revolution

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26
Q

was introduced as resources and finances had been growing steadily

A

Entrepreneurship Capitalism

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27
Q

? and ? took the lead in the second industrial revolution

A

Europe and the USA

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28
Q

There was an immense cultivation of knowledge in science and applied technology that solved a lot of problems during this time

A

Second industrial revolution

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29
Q

During 1908, ? was able to eliminate the skilled craftsmen for steel and iron with the “Assembler”

A

Ford

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30
Q

1906, ? , the perfect part interchangeability was achieved.

A

Cadilac

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31
Q

1924, ?, statistical process control (SPS as a tool was used to identify variability in processes.

A

Shewhard

32
Q

In ?, paticularly in ? there was a significant development in the economy following the control of Korea and Taiwan.

A

Asia, Japan

33
Q

Second Industrial Revolution took place during

A

mid 1800s to the mid 1900s

34
Q

Post-foundationalism, Social transformation and the coming third industrial revolution

A

Third industrial revolution

35
Q

this era revolved around computerization, market competition, and globalization

A

Third Industrial Revolution

36
Q

was continued to be developed after WWII that ended in 1945

A

Scientific management

37
Q

this system was introduced by Eiji Toyada and Taiichi Ohno

A

Toyota Production system (on lean production)

38
Q

It revolutionized the production of cars following the trainings of hundreds of Japanese engineers and managers by the American scientists

A

Toyota Production System (on lean production)

39
Q

this Philosophy was introduced by Deming (1982)

A

Fourteen Points of quality management

40
Q

was adopted by many American business organizations

A

Fourteen points of quality management

41
Q

Montorola introduced a better total quality management tool called ____.

A

Six Sigma

42
Q

widely taught and studied in a lot of US collgees and universities with the purpose of eductaiong young engineers and managers tio improve production and take back the glory to the uS

A

Total Management Control Tool

43
Q

Leaders in third industrial revolution having sophisticated computer technology, high speed air travel capability, and access to satellote communications, and made their way to internationalize their manufacturing and servicing operations

A

US, Japan, and Germany

44
Q

foucused on trainings and computer education and offered incentives to foreign investors

A

Singapore

45
Q

jumped 20 notches in the world GDP list from 1960 to 2000 by their textile and light manufacturing industries

A

Hong Kong

46
Q

Toward the end, two countries were predominantly leading, they were ? and ?

A

China and India

47
Q

changed their policies to ease up regulations for the production of goods and services which allowed small business to thrive and export software programs and other high-technology products and even services

A

India

48
Q

it began dominating the globalized economy by selling garments, toys, technological prducts, household things, and other consumer policies at the cheapest price imaginable.

A

China

49
Q

Third industrial revolution took place during ? to the year ?

A

mid 1900s, 1999

50
Q

During the fourth and fifth industrial revolution the management systems like the ?, ? and ? became widely practiced wordwide. Which enabled more efficient production of goods and services traded in a globalized economy

A

Total quality management (TQM), Lean Production, and Six Sigma

51
Q

Its primary goal is to increase productivity, thereby improving te standard living of the people

A

The fourth and fifth industrialization

52
Q

this period of industrialization focuses on biotechnology, additive manufacturing telecommunications, and transportations.

A

Fourth and fifth industrialization

53
Q

The purposes of reaching and developing genetic engineering such as ? and ? is to develop a treatment for some coengenital diseases

A

DNA sequencing and gene editing

54
Q

Is a $21 billion dollar industry as of today, mainly targeting the bsuiness of automobiles, textiles, military, medical, consumer products and many more.

A

3D printing technology

55
Q

Advantages of ?, like the use of 3D printing, are the optimization of cost in manufacturing products and the use of materials that are lighter, stronger, and more flexible not to mention cheaper

A

additive technology

56
Q

Public transactions that are run by automated techology are now in place in the countries such as ?, ?, ?, ? and ?.

A

UAE, USA, Japan, taiwan, and China

57
Q

public transportation that is run by automated technology which is launched in Singapore (2016)

A

Self-driving taxi

58
Q

took place during year 2000 to the present time or more commonly known as the 21st century

A

Fourth industrial revolution

59
Q

?; humanism, civility, inclusivity, creativity, and purpose in a digitally enabled ? are the drivers

A

Fifth industrial revolution
progressive economy

60
Q

The fifth industrial revolution is characterized mainly by three things: ?, ?, and ?

A

profit, purose, and people prospering together

61
Q

In protecting the economy of one’s country, it is important to optimize net exports

A

Mercantilism

62
Q

Optimizing ____ adds to more products and services available to its people and affects the increase of the GDP of the country

A

net exports

63
Q

? points out in mercantilism the shaping of an economic language that mercantilism in it traditional form was not a well-structure doctrine containing principles to describe economic behavior or to prescribe policy measures

A

Lars Magnusson

64
Q

a set of policies by which a government seeks to shelter its industries from foreign competition or to help them increase exports to international markets

A

Protectionism

65
Q

economic idea that means less involvement by means of regulations of the government to its private industries to let them operate on their own

A

Laissez-faire

66
Q

Laissez-faire means ? in French

A

let alone

67
Q

when there is a need for goods and services because of shortage from another country, a country buys from another country

A

importation

68
Q

when there is a surplus, we want to regain from sale to another country ad increase gross domestic product, we sell them our domestic products

A

Exportation

69
Q

industrialization, modernization, urbanization, and capitalism are concepts that are ? and ?

A

intertwined and cannot be really separated

70
Q

? and ? tend to save for future survival because of the idea of laizzes-faire, the government tends to give some level of freedom to producers, which may lead to abuse of land, labor, and other valuable resources

A

capitalists and governments

71
Q

Children as young as 6-7 y.o. are forced to work for more than 8 hrs daily just to achieve the ?

A

production quota

72
Q

Today, it seems that the model of economic development is changing; a developed nation may not be necessarily be the one exporting to other countries

A

Deindustrialization

73
Q

“make cities and human settlements inclusive, safe, resilient, and sustainable”

A

UNDESA, Sustainable Development Goal 11

74
Q

Today, we are experiencing ?, where goods and services are available that were considered impossible half a century earlier

A

fifth industrial revolution

75
Q

there was a rise in ?, demand was rising so fast, and evidence of underproduction of goods and services forced the economies to industrialize and produce more in the most efficient manner

A

global population

Economic Development (1st year, summer) (3 decks)

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