Lesson 54 Flashcards

0
Q

Manufacturing industry

A

Making things

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1
Q

Heavy industry

A

Industry that uses large machines to produce either materials such as steel or large goods such as ships and trains . Opp. Light industry

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2
Q

Service industry

A

Serving people, e.g. tourusm, banking

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3
Q

High- technology industry

A

Involving computers industry. Opp. Low-technology industry

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4
Q

Cutting-edge technology

A

Involving new and innovative technology

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5
Q

Conventional technology

A

Using standard proven technology

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6
Q

Nationalization / state ownership

A

When industry is owned by the government. Opp. Privatization

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7
Q

Public-private partnership

A

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

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8
Q

Subsidy

A

Money/grants which enable it to stay in profit

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9
Q

Inward investment

A

Investment from foreign companies

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10
Q

piecework

A

Work for which the amount of pay depends on the number of things finished rather than the time spent making them

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11
Q

Child labor

A

The employment of children to do adult jobs

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12
Q

Trade union representation

A

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

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13
Q

Sweatshops

A

Factories where people work very long hours for low wages

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14
Q

Retraining and reskilling

A

Training people for new jobs and teaching them new skills

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15
Q

Multinationals

A

Big companies with operations in many different countries

16
Q

Cost-cutting exercise

A

Effort to reduce their costs

17
Q

Relocate

A

Move the company’s offices to different place

18
Q

Switch production

A

Move the center of manufacturing to a different place

19
Q

Components

A

Parts

20
Q

Assemble

A

Put together