English Vocabulary in Use - 55 Industries: from manufacturing to service

heavy industry

e.g. steel works, shipbuilding

manufacturing industry

making things e.g. consumer goods

high-technology (high-tech; informal)

involving computers, e.g. software industry

cutting-edge technology

involving new and innovative technology

privatisation

e.g. selling off state railways to private companies

light industry

e.g. manufacturing car parts, TV sets

service industry

serving people, e.g. tourism, banking

low-technology (low-tech; informal)

involving little or no computer technology

conventional technology

using standard, proven technology

nationalisation / state ownership

when industry is owned by the government

public-private partnerships

partly state-owned, partly owned by private industries or businesses

subsidy

money/grants which enable it to stay in profit

inward investment

investment from foreign companies

on piecework

they are only paid for the amount they produce

zero hours contracts

they are employed by a company, but the number of hours they work each week may vary, and some weeks there may be no work for them, so they receive no pay

child labour

the employment of children to do adult jobs

trade union representation

a union that negotiates wages and conditions for the people it represents

sweatshops

factories where people work very long hours for low wages

retraining / reskilling

training people for new Jons and teaching them new skills

multinationals

big companies with operations in many different countries

cost-cutting exercise

effort to reduce their costs

relocate

move the company’s offices (or, less commonly, production) to a different place

switch production

move the centre of manufacturing to a different place

components

parts

assembled

put together