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chpt21Industrial

QuestionAnswer
Industrial Revolution A period of rapid growth in the use of machines in manufacturing and production that began in the mid-1700s
enclosure movement Land owners could buy fields previously shared by rich and poor farmers.
factors of production The resources needed to produce goods and services that the Industrial Revolution required
cottage industry A usually small-scale industry carried on at home by family members using their own equipment
factory a building that houses industrial machines
industrialization is the period of social and economic change that transforms a human group from an agrarian society into an industrial one.
Jethro Tull British inventor who invented the seed drill (the machine for sowing cereals and other seeds) this machine made the planting more efficient.
Richard Arkwright An inventor who invented the spinning frame
James Watt Scottish inventor, he developed crucial innovations to make the steam engine efficient, fast and better able to power machinery
Robert Fulton Irish-American who developed a steamship called the Clermont
labor union organizations representing workers' interests
strike workers refusing to work
mass production the system of manufacturing large numbers of identical items
interchangeable parts Identical machine-made parts that can be substituted for each other manufacturing.
assembly line A mass production process in which a product is moved forward through many workstations where workers perform specific tasks.
laissez-faire The idea that government should refrain from interfering in economic affairs
Adam Smith Scottish economist; he became the leading advocate of laissez faire economics and is considered by some to be the "father of modern economics"
Thomas Malthus Eighteenth-century English intellectual who warned that population growth threatened future generations because, in his view, population growth would always outstrip increases in agricultural production.
entrepreneur individuals who start new businesses, introduce new products, and improve management techniques
Andrew Carnegie Scottish-American industrialist who led the enormous expansion of the American steel industry in the late 19th century
socialism A political and economic system in which society, usually in the form of the government, owns the means of production
Karl Marx German social philosopher and chief theorist of modern socialism and communism; he declared that as capitalism grew, more and more workers would become impoverished and miserable
communism An economic and political system in which there is no private ownership of business or property.
standard of living the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area
Created by: ebonibaker
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