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Chapter 21

Key terms and people

QuestionAnswer
Industrial revolution When the use of power driven machinery was developed.
Industrial revolution When the use of power driven machinery was developed.
enclosure movement The new landowners combined the small fieldds to create large farms and fenced them, a transformation called the___
factors of production The country had the essential elements that a nation needs to achieve economic success.
cottage industry a craft occupatoin performed in the home.
industrialization or the process of changing to power driven machinery.
Jethro Tull was among these wealtheir farmers.
Richard Arkwright another inventor.
James watt Came up with cruical innovations.
Robert Fulton became famous for developing a steamship called the Clermont.
Labor union are organizations representing workers' interests.
strike or work stoppages.
mass production the system of manufacturing large numbers of identical items.
interchangeable parts are identical machine made parts.
assembly line the product moves from worker to worker, as each one performs a step in the manufacturing process.
Laissez-faire Some people said that governments should not interfere in business.
Adam smith Became the leading advocate of Laissez-faire economics.
Thomas Malthus who was concerned about population growth caused by the development of industry.
entrepreneur. someone who starts a new business.
Andrew Carnegie who was born in scotland, was an example of "rags to riches" success.
Socialism For the good of all, society or the government, instead of individuals should own property and control industry.
Karl Marx Devlared that as capitalism grew, more and more workers would sink into poverty.
Communism the system in which the government owns almost all the means of production and controls economic planning.
standard of living or level of material comfort for people in industrialized contries improved.
factory a building that housed industrial machines became known as a ___.
Created by: Thomasrobison
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