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Module 21

The Industrial Revolution

Where did the Industrial Revolution begin? Britian
What are enclosures? One of the fenced-in or hedged-in fields created by wealthy British landowners on land that was formerly worked by village farmers.
What is crop rotation? The system of growing a different crop in a field each year to preserve the fertility of the land.
Why did the Industrial Revolution begin in Britain? water power and coal to fuel the new machines iron ore to construct machines, tools, and buildings rivers for inland transportation harbors from which merchant ships set sail
What does Industrialization mean? The development of industries for the machine production of goods.
What are the factors of production? The resources—including land, labor, and capital—that are needed to produce goods and services.
What does urbanization mean? The growth of cities and the migration of people into them.
What is the middle class? A social class made up of skilled workers, professionals, businesspeople, and wealthy farmers.
Why was being in the Working Class so horrible? There was no living space, you were paid dirt cheap wages, and disease spelled death upon the Working Class.
What are some positives that came out of the Industrial Revolution? It created jobs for workers. It contributed to the wealth of the nation. It fostered technological progress and invention. It greatly increased the production of goods and raised the standard of living.
What are some long-term effects of the Industrial Revolution? Most people today in industrialized countries can afford consumer goods that would have been considered luxuries 50 or 60 years ago. In addition, their living and working conditions are much improved over those of workers in the 19th century.
What did Britain do to try to stop their Ideas of Industrialization from going to other nations? They forbid engineers from leaving.
Who decided to go to America anyways and spread their ideas of the Industrial Revolution? Samuel Slater
Who was thought to be the Father of American Industry? The Father of American Industry is Samuel Slater
Who were hired instead because it's harder for older people to do the job? Children
Who struggled due to the spread out resources? Germany
What was a negative result of the Industrial Revolution There was an inequality in power and Imperialism started to form.
What does laissez faire mean? The idea that government should not interfere with or regulate industries and businesses.
Who is 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. ”
What did Adam Smith say were the three natural laws of economics? the law of self-interest—People work for their own good. the law of competition—Competition forces people to make a better product. the law of supply and demand—Enough goods would be produced at the lowest possible price to meet demand in a economy.
What is Capitalism? An economic system based on private ownership and on the investment of money in business ventures in order to make a profit.
What is Utilitarianism? The theory, proposed by Jeremy Bentham in the late 1700s, that government actions are useful only if they promote the greatest good for the greatest number of people.
What is Socialism? an economic system in which the factors of production are owned by the public and operate for the welfare of all.
Who is 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.
What is Communism An economic system in which all means of production—land, mines, factories, railroads, and businesses—are owned by the people, private property does not exist, and all goods and services are shared equally.
Created by: 22tchan