Industry Vocab

Question 1

Agglomeration

Answer 1

Clustering of people and activities

Question 2

Break of bulk point

Answer 2

The place where goods are transferred to another carrier

Question 3

Capital

Answer 3

Flow of money

Question 4

Commodification

Answer 4

Giving something monetary value

Question 5

Deindustrialization

Answer 5

Move industrial jobs to other regions

Question 6

Flexible production system

Answer 6

System where the set of processes are global

Question 7

Fordist

Answer 7

All production under one roof

Question 8

Friction on distance

Answer 8

Increase in time and cost the comes from increase in distance

Question 9

Global division of labor

Answer 9

Labor in multiple places

Question 10

Globalization

Answer 10

Global scale

Question 11

Industrial revolution

Answer 11

When and how industry began

Question 12

Intermodal connections

Answer 12

Places where two or more modes of transportation meet

Question 13

Just in time delivery

Answer 13

Get things in a timely manner

Question 14

Least cost theory

Answer 14

Put least amount of money into your industry

Question 15

Newly industrializing countries

Answer 15

States that underwent industrialization after WWll

Question 16

Offshore

Answer 16

Outsourcing outside of the country

Question 17

Outsourced

Answer 17

Turn part of your production to a third party

Question 18

Primary industrial regions

Answer 18

Core areas of industrial development

Question 19

Product life cycle

Answer 19

Intro growth inaturation and decline of a product

Question 20

Rust belt

Answer 20

Area in NE US

Question 21

Spatial fix

Answer 21

More production from one site to another based on $$

Question 22

Sun belt

Answer 22

South/SW US

Question 23

Technopole

Answer 23

Centers of high tech

Question 24

Vertical integration

Answer 24

Own other parts in the commodity chain