(7) Cluster 2: Industrial Systems & Global Production

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Last updated 10:06 AM on 4/8/26
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22 Terms

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Industrial Revolution
Monumental shift from agrarian, handicraft economies to mechanized, factory
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Assembly Line
A manufacturing process in which individual parts of a product are assembled in a sequential manner.
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Agglomeration Economies
Cost
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Fordism
The mass production and consumption characterized by assembly line manufacturing, standardized products, and high wages for workers, pioneered by Henry Ford in the early 20th century.
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Post
Fordism
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Mass Production
Industrial manufacturing of large quantities of standardized goods.
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Mass Consumption
A developed economy focused on services industries, consumer durables, and widespread luxury consumption.
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Just
in
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Deindustrialize
Reduce industrial activity or capacity in a region or economy.
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Corporate Disinvestment
When a company sells off, closes down, or spins off parts of its business.
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Least
Cost Theory
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High
Technology Industry
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Textile
Materials made from fibers, either natural or synthetic, that are woven, knitted, or felted into fabrics.
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Base Industry
Refers to industries that are essential to the economy and primarily sell their products or services.
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International Division of Labor
The global spatial distribution of production processes, where companies transfer low
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New International Division of Labor
The global shift of manufacturing and industrial production from developed (North) to developing nations (South), beginning in the late 1960s.
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Offshoring
The business strategy of relocating operations, manufacturing, or service processes from a home country to a foreign country.
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Outsourcing
To obtain goods or a service from an outside or foreign supplier, especially in place of an internal source.
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Export Processing Zone (EPZ)
Designated areas in periphery/semi
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Free Trade Zone (FTZ)
Designated, secure area, often near ports or airports, considered outside U.S. Customs territory for duty purposes.
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Special Economic Zone (SEZ)
Designated areas within a country often along coasts operating under lenient economic, trade, and labor laws to attract foreign direct investment (FDI), encouraging manufacturing for export, and create jobs.
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Labor Productivity
The efficiency with which goods and services are produced within an economy, often measured as the output per unit of input.