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Chapter 21
Key terms and people
| Question | Answer |
|---|---|
| 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 ___. |