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Chp.21 - Revolution

Term / Definition

Industrial Revolution a period of rapid growth in the use of machines in manufacturing and production that began in the mid-1700's.
enclosure movement a process in Europe from 1700's to the mid-1800's where landowners fenced small fields to create large farms, allowing more efficient farming methods and increased the food supply.
factors of production the basic resources for industrialization, such as land labor, and capital.
cottage industry a usually small-scale industry carried on at home by family members using their own equipment.
factory a place where goods are manufactured in mass quantity.
industrialization developing industries for the production of goods,
Jethro Tull British inventor; he invented the seed drill.
Richard Arkwright English inventor; in 1769 he patented the spinning frame, which spun stronger, thinner thread.
James Watt Scottish inventor; he developed crucial innovations to make the steam engine efficient, fast and better able to power machinery.
Robert Fulton American engineer and inventor; the 1st commercially successful, full-sized steamboat, the Clermont, which led to the development of commercial steamboat ferry services for goods and people.
labor union an organization representing workers interests.
strike a work stoppage.
mass production the system manufacturing large numbers of identical items.
interchangeable parts identical machine-made parts that can be substituted for each other in manufacturing
assembly line a mass-production process in which a product is moved forward through many work stations where workers perform specific tasks.
laissez-faire a business system where companies are allowed to conduct business without interference by the government.
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". He wrote the 1st true text on economics. The Wealth of Nations in 1776.
Thomas Malthus English economist and sociologist; his theory that poplulation growth would exceed
entrepreneur a risk taker who starts a new business within the economic system of capitalism.
Andrew Carnegie American industrialist and humanitarian; he led the expansion of the U.S. steel industry in the late 1800's and early 1900's.
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 philospher and chief theorist of modern socialism and communism; he decla
communism economic and political system in which government owns the means of production and controls economic planning.
standard of living a measure of the quality of life.
Created by: kaileepetty