Amsco chapter 15 vocabulary

Industrial Revolution

• A series of improvements in industrial technology that transformed the process of manufacturing goods

• A policy of extending a country's power and influence through diplomacy or military force

• Production method that breaks down a complex job into a series of smaller tasks

• System of standardized mass production attributed to Henry Ford

System of standardized mass production attributed to Henry Ford

• Production method that breaks down a complex job into a series of smaller tasks

• System of standardized mass production attributed to Henry Ford.

• A policy of extending a country's power and influence through diplomacy or military force

• The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.

assembly line

• The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

• An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent.

• Production method that breaks down a complex job into a series of smaller tasks

• A hypothetical portion of the earth's surface assumed to be an unbounded, uniformly flat plain with uniform and unvarying distribution of population, purchasing power, transport costs, accessibility, and the like.

fordism

• the tendency to substitute one factor of production for another in order to achieve optimum plant location

• System of standardized mass production attributed to Henry Ford.

• the portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.

• The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

substitution priciple

• High profile, visible locations often in expensive downtown office buildings

• A descriptive term applied to manufacturing activities for which the cost of transporting material or product in not important in determining location of production; an industry or firm showing neither market nor material orientation.

• The practice of exporting U.S. jobs to lower paid employees in other nations.

• the tendency to substitute one factor of production for another in order to achieve optimum plant location

post-fordism

• An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent.

• Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.

• Sector that includes jobs that focus on business services, such as trade, insurance, banking, advertising, and wholesaling

• (syn. external economies) The savings to an individual enterprise derived for locational association with a cluster of other similar economic activities, such as other factories or retail stores.

primary sector

• The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.

• The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

• The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.

• Sector that includes jobs that focus on business services, such as trade, insurance, banking, advertising, and wholesaling

secondary sector

• The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

• The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.

• Sector that includes jobs that focus on business services, such as trade, insurance, banking, advertising, and wholesaling

• Service sector industries that require a high level of specialized knowledge or technical skill. Examples include scientific research and high-level management.

tertiary sector

• Sector that includes jobs that focus on business services, such as trade, insurance, banking, advertising, and wholesaling

• Service sector industries that require a high level of specialized knowledge or technical skill. Examples include scientific research and high-level management.

• Adoption by companies of flexible work rules, such as the allocation of workers to teams that perform a variety of tasks.

• The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

Quarternary Sector

• Service sector industries that require a high level of specialized knowledge or technical skill. Examples include scientific research and high-level management.

• Sector that includes jobs that focus on business services, such as trade, insurance, banking, advertising, and wholesaling

• The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.

• A policy of extending a country's power and influence through diplomacy or military force.