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Industrial Revolutio

Industrial Revolution Key Terms

Industrial Revolution was a period from the 18th to the 19th century where major changes in agriculture, manufacturing, mining, transportation, and technology had a profound effect on the social, economic and cultural conditions of the times.
Agricultural Revolution a period of development in Britain between the 17th century and the end of the 19th century, which saw an epoch-making increase in agricultural productivity and net output.
mass production is the production of large amounts of standardized products, including and especially on assembly lines.
division of labor is the specialisation of cooperative labour in specific, circumscribed tasks and like roles. Historically is closely associated with the growth of total output and trade, the rise of capitalism, and of the complexity of industrialisation processes.
mechanization the condition of having a highly technical implementation.
spinning jenny It was invented c. 1764 by James Hargreaves in Stanhill, Oswaldtwistle, Lancashire in England. The device reduced the amount of work needed to produce yarn, with a worker able to work eight or more spools at once.
water frame s the name given to the spinning frame, when water power is used to drive it. Both are credited to Richard Arkwright who patented the technology in 1768. It was based on an invention by Thomas Highs and the patent was later overturned.
textile is a flexible woven material consisting of a network of natural or artificial fibres often referred to as thread or yarn.
interchangeable parts are parts that are, for practical purposes, identical. They are made to specifications that ensure that they are so nearly identical that they will fit into any device of the same type. One such part can freely replace another without any custom fitting.
steam engine Non-combustion heat sources such as solar power, nuclear power or geothermal energy may be used. Water turns to steam in a boiler and reaches a high pressure. When expanded through pistons or turbines, mechanical work is done.
"invisible hand" self-regulating nature of the marketplace. This is a metaphor 1st coined by the economist Adam Smith and used a total of 3x in his writings. 4 Smith the "invisible hand" was a social mechanism that channeled ambition toward meeting the needs of society.
laissez faire describes an environment in which transactions between private parties are free from state intervention, including restrictive regulations, taxes, tariffs and enforced monopolies.
free market capitalism is a compet market where prices are deter by supply and demand. the term is also com used 4 markets in which economic interv and regulation by the state is limited to tax collection, and enforcement of private ownership and contracts.
Adam Smith was a Scottish social philosopher and a pioneer of political economy. One of the key figures of the Scottish Enlightenment.
Created by: bynicar