Unit 7 voacab Flashcards
(46 cards)
apparel
an article of clothing
break out bulk point
a location where goods are transferred from one mode of transportation to another
bulk gaining industry
an industry in which the final products weighs more or holds a greater value than the input (computers, cars, phones, assembling factories)
bulk reducing industry
an industry in which the final product weighs less or holds a lower value than the input (copper, lumber, natural resource factories)
cottage industry
manufacturing in homes rather than in factories, more common prior to the industrial revolution
fordist production
a form of mass production in which each worker is assigned a specific task to perform repeatedly
just in time delivery
when shipment of materials arrives moments before they are needed
labor intensive industry
an industry for which labor costs comprise a high percentage of total expenses
maquiladora
a low-cost factory in Mexico that is owned by the US and placed near the border to take advantage of much lower labor costs
new international division of labor
The New International Division of Labor (NIDL) refers to the relocation of production processes and economic activities from developed countries to developing countries due to factors like cheaper labor costs and the growth of transnational corporations. This shift often leads to a situation where manufacturing and assembly are done in developing countries, while research and development, design, and high-skilled jobs remain in developed nations.
outsourcing
Outsourcing is a business practice in which companies use external providers to carry out business processes, that would otherwise be handled internally. Outsourcing sometimes involves transferring employees and assets from one firm to another.
post fordist production
the idea that modern industrial production has moved away from mass production in huge factories, as pioneered by Henry Ford, towards specialized markets based on small flexible manufacturing units.
right to work law
a US law that prevents a union and a company from negotiating a contract with its employers the requires for them to join the union as a condition of employment
site factors
location factors related to the costs of production factors inside a plant, such as land, labor, and capital
situation factors
location factors related to the transportation of materials into and from a factory
textile
a fabric made by weaving, used in making clothing
vertical intergration
a company takes ownership of different stages of its supply chain, rather than relying on external suppliers or distributors
basic business
a business that sells its products primarily to consumers outside the settlement
business service
a service that primarily meets the needs of other businesses, including professional, financial, and transportation services
central place
a market center for the exchange of services by people attracted from the surrounding areas
central place theory
A theory that explains the distribution of services, based on the fact that settlements serve as centers of market areas for services; larger settlements are fewer and farther apart than smaller settlements and provide services for a larger number of people who are willing to travel farther.
clustered rural settlement
a settlement in which the houses and farm buildings of each family are situated close to each other, with fields surrounding the settlement
consumer service
designed to meet the needs of individuals (stores, schools, hospitals)
Business: support the operation of other businesses (banking, law firms, technology services)
dispersed rural settlement
settlement pattern characterized by isolated farms rather than clustered villages
