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Chapter 21
| Term | Definition |
|---|---|
| Industrial Revolution | the time period when power-driven machinery was developed |
| enclosure movement | the combining of many small farms by wealthy landowners |
| factors of production | the essential elements that a nation needs for economic success (capital, labor, land) |
| cottage industry | a craft occupation performed in the home |
| factory | a building that housed power-driven machinery |
| industrialization | the process of changing to power-driven machinery |
| Jethro Tull | gentleman farmer who invented the seed drill for planting grain |
| Richard Arkwright | inventor of the spinning frame, which spun stronger, thinner thread |
| James Watt | British inventor who made steam engines faster and more efficient |
| Robert Fulton | developed and operated the steamship Clermont on the Hudson River |
| labor union | organizations representing workers' interests |
| work stoppages | work stoppages |
| mass production | the system of manufacturing large numbers of identical items |
| interchangeable parts | identical machine-made parts |
| assembly line | system in which workers stay in one place, adding parts as items go by |
| laissez-faire | the idea that governments should not interfere in business |
| Adam Smith | the leading advocate of laissez-faire economics |
| Thomas Malthus | thinker whose beliefs about poverty were used to justify low wages |
| entrepreneur | someone who starts a business |
| Andrew Carnegie | industrialist who led the expansion of the American steel industry |
| socialism | the theory that society, not individuals, should own all property and industry |
| Karl Marx | German thinker who put forth a radical view of socialism |
| communism | a system in which the government controls the economy |
| standard of living | level of material comfort experienced by a group of people |
Created by:
tinsleylett
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