Unit 7 Gradesavers

A series of technological advances resulting in more complex machinery driven by water or steam power driven by water or steam power that could make products faster and at lower costs than could cottage industries

The development of industries for the machine production of goods

A process of decreasing reliance on manufacturing jobs

Small home-based industries that made goods

Economy sector that focuses on extracting natural resources from the Earth(such as farming and mining), it dominated economy until the 1800's and had low-wage, high risk and labor jobs.

Economy sector that focuses on making products from natural resources(such as manufacturing and building), grew from the 1840s to 1960s with varying wages

Economy sector focusing on providing information and services to people(such as retail and medicine), small part of economy until mid 1900s and includes most people in the U.S. labor force today

Economy sector focusing on managing and processing information(such as financial analysis and data science), provides high wages but has a small percentage of employees and requires advanced education/skills.

Economy sector focusing on creating information and making high-level decisions( such as research and managers of corporations), extremely small percentage of employees with very high incomes, usually decisions made affect millions.

The procedure of transferring cargo from one mode of transportation to another