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industry
the process of using machines and large-scale processes to convert raw materials into manufactured goods
raw materials
the basic substances such as minerals and crops needed to manufacture finished goods
market
a place where products are sold
cottage industries
small, home-based businesses that make goods. Relied on intensive human labor such as simple spinning wheels, looms, and other tools
Industrial Revolution (IR)
a series of technological advances that started in 18th Century United Kingdom, making goods more efficiently and be sold for cheap. It would also move from homes to factories, as these new machines were too large and required capital (investment money)
industrial belt
an area stretching across the midlatitudes of the Northern Hemisphere; large urban areas containing factories
deindustrialization
a process of decreasing reliance on manufacturing jobs, promoting a tertiary economy and moving those manufacturing companies to semiperiphery countries for lower wages and less restrictions