Unit 6 – Patterns and Processes of Economic Development

Front

Cottage industry

Back

A small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility.

Front

Industrial Revolution

Back

The period of major industrialization that took place during the late 1700s and early 1800s.

Front

Rust Belt

Back

A region in the US characterized by declining industry, aging factories, and a falling population.

Front

Break-of-bulk point

Back

A location where transfer is possible from one mode of transportation to another.

Front

Bulk-gaining industry

Back

An industry in which the final product weighs more or comprises a greater volume than the inputs.

Front

Bulk-reducing industry

Back

An industry in which the final product weighs less or comprises a lower volume than the inputs.

Front

Just-in-time delivery

Back

An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Front

Labor-intensive industry

Back

An industry for which labor costs comprise a high percentage of total expenses.

Front

Maquiladora

Back

Factories built by US companies in Mexico near the US border to take advantage of much lower labor costs in Mexico.

Front

New international division of labor

Back

The selective transfer of some jobs to developing countries.