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WH Unit 11

WH Unit 11 Vocabulary

TermDefinition
enclosure p. 717 one of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formerly worked by village farmers.
crop rotation p. 717 the system of growing a different crop in a field each year to preserve the fertility of the land
industrialization p. 717 the development of industries for the machine production of goods.
factors of production p. 718 the resources - including land, labor, and capital - that are needed to produce goods and services.
factory p. 720 a large building in which machinery is used to manufacture goods.
entrepreneur p. 721 a person who organizes, manages, and takes on the risks of a business.
urbanization p. 723 the growth of cities and the migration of people into them.
middle class p. 725 a social class made up of skilled workers, professionals, businesspeople, and wealthy farmers.
stock corporation p. R79 a business owned by stockholders who share in its profits but are not personnally responsible for its debts.
laissez faire p. 734 the idea that government should not interfere with or regulate industries and businesses.
capitalism p. 573, 734 an economic system based on private ownership and on the investmentof money in business ventures in order to make a profit
socialism p. 736 an economic system in which the factors of production are owned by the public and operate for the welfare of all.
communism p. 737 an economic system in which all means of production - land, mines, factories, railroads, and businesses - are owned by the people, private property does not exist, and all goods and services are shared equally.
union p. 738 an association of workers, formed to bargain for better working conditions and higher wages.
strike p. 738 to refuse to work in order to force an employer to meet certain demands.
imperialism p. 773 a policy in which a strong nation seeks to dominate other countries politically, economically, or socially.
racism p. 775 the belief that one race is superior to others.
annexation p. 799, 813 the adding of a region to the territory of an existing political unit.
extraterritorial rights p. 806 an exemption of foreign residents from the laws of a country (p. 806)
sphere of influence p. 807 a foreign region in which a nation has control over trade and other economic activities.
Created by: Oravec Land
 

 



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