Chapter 6 Flashcards
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
Industrialization
Includes regulation of economic activities of an institutional frame (government)
Industrialization
In the 18th and 10th centuries, ? and ? in the ? resulted in the mass production minimizin the use of resources (inputs) like materials and labor
Europe, the great depression, US
Asian Giants
China and India
Asian Tigers
Singapore, South Korea, Taiwan, and Hong Kong
Asian cubs
Indonesia, Vietnam, Malaysia, Thailand, and the Philippines
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
First Industrial Revolution
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
1700s, Britain, India
to increase food and thereby taken into consideration the more efficient way to produce agricultural products
Essential factor of industrialization
very influential in their innovation in terms of producing new crops and breeding animals to yield more that what was normal
Agriculturists
science of animal husbandry
Robert Bakewell
seed drill
Jethro Tull
primary energy resources and led the way to the development of steam engines to be used for more operations n factories
Iron and coal
contributed to the enhancement of stea engines by introducing separate condenser and double-ating piston motion
James Watt
There was a lot of black smoke found in factories and trains from burning coals, ______.
the earmark of the industrial age
In the process of making use of ?, ?, and ? were put together to produce interchangeable parts that would make production faster and more efficient
wood, iron, and steel
Hydraulic press
Joseph Bramah
lathe slide rest and pattern screw
Henry Maudslay
Use of dividing engine
Jesse Ramsden
These led to produce machines by machines, mechanization to production to industrialization
Use of dividing machine
First Industrial Revolution took place during
1700s to the mid 1800s
Learning-by-producing and the Geographical links between invention and production: experience from the second industrial revolution
Second Industrial Revolution
The second industrial revolution brought about the so called ?
“modern life”
Immense sharing of science and technology, like the canning of food to the study of bacteria
Second Industrial Revolution
Nature has been vastly studies and used for the production of goods and services
Second Industrial Revolution
was introduced as resources and finances had been growing steadily
Entrepreneurship Capitalism
? and ? took the lead in the second industrial revolution
Europe and the USA
There was an immense cultivation of knowledge in science and applied technology that solved a lot of problems during this time
Second industrial revolution
During 1908, ? was able to eliminate the skilled craftsmen for steel and iron with the “Assembler”
Ford
1906, ? , the perfect part interchangeability was achieved.
Cadilac
1924, ?, statistical process control (SPS as a tool was used to identify variability in processes.
Shewhard
In ?, paticularly in ? there was a significant development in the economy following the control of Korea and Taiwan.
Asia, Japan
Second Industrial Revolution took place during
mid 1800s to the mid 1900s
Post-foundationalism, Social transformation and the coming third industrial revolution
Third industrial revolution
this era revolved around computerization, market competition, and globalization
Third Industrial Revolution
was continued to be developed after WWII that ended in 1945
Scientific management
this system was introduced by Eiji Toyada and Taiichi Ohno
Toyota Production system (on lean production)
It revolutionized the production of cars following the trainings of hundreds of Japanese engineers and managers by the American scientists
Toyota Production System (on lean production)
this Philosophy was introduced by Deming (1982)
Fourteen Points of quality management
was adopted by many American business organizations
Fourteen points of quality management
Montorola introduced a better total quality management tool called ____.
Six Sigma
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
Total Management Control Tool
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
US, Japan, and Germany
foucused on trainings and computer education and offered incentives to foreign investors
Singapore
jumped 20 notches in the world GDP list from 1960 to 2000 by their textile and light manufacturing industries
Hong Kong
Toward the end, two countries were predominantly leading, they were ? and ?
China and India
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
India
it began dominating the globalized economy by selling garments, toys, technological prducts, household things, and other consumer policies at the cheapest price imaginable.
China
Third industrial revolution took place during ? to the year ?
mid 1900s, 1999
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
Total quality management (TQM), Lean Production, and Six Sigma
Its primary goal is to increase productivity, thereby improving te standard living of the people
The fourth and fifth industrialization
this period of industrialization focuses on biotechnology, additive manufacturing telecommunications, and transportations.
Fourth and fifth industrialization
The purposes of reaching and developing genetic engineering such as ? and ? is to develop a treatment for some coengenital diseases
DNA sequencing and gene editing
Is a $21 billion dollar industry as of today, mainly targeting the bsuiness of automobiles, textiles, military, medical, consumer products and many more.
3D printing technology
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
additive technology
Public transactions that are run by automated techology are now in place in the countries such as ?, ?, ?, ? and ?.
UAE, USA, Japan, taiwan, and China
public transportation that is run by automated technology which is launched in Singapore (2016)
Self-driving taxi
took place during year 2000 to the present time or more commonly known as the 21st century
Fourth industrial revolution
?; humanism, civility, inclusivity, creativity, and purpose in a digitally enabled ? are the drivers
Fifth industrial revolution
progressive economy
The fifth industrial revolution is characterized mainly by three things: ?, ?, and ?
profit, purose, and people prospering together
In protecting the economy of one’s country, it is important to optimize net exports
Mercantilism
Optimizing ____ adds to more products and services available to its people and affects the increase of the GDP of the country
net exports
? 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
Lars Magnusson
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
Protectionism
economic idea that means less involvement by means of regulations of the government to its private industries to let them operate on their own
Laissez-faire
Laissez-faire means ? in French
let alone
when there is a need for goods and services because of shortage from another country, a country buys from another country
importation
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
Exportation
industrialization, modernization, urbanization, and capitalism are concepts that are ? and ?
intertwined and cannot be really separated
? 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
capitalists and governments
Children as young as 6-7 y.o. are forced to work for more than 8 hrs daily just to achieve the ?
production quota
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
Deindustrialization
“make cities and human settlements inclusive, safe, resilient, and sustainable”
UNDESA, Sustainable Development Goal 11
Today, we are experiencing ?, where goods and services are available that were considered impossible half a century earlier
fifth industrial revolution
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
global population
