Studied by 12 people
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
Note 
Flashcard (42)