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Industrial Rev #2

Here is the second Study Stack on Industrial Revolution.

QuestionAnswer
Blacklist List of union agitators kept by factory owners.
Bourgeoisie Middle class; factory owners; Marx’s HAVES.
Capitalism Economic system in which there is private ownership of the means of production.
Charles Darwin Scientist who proposed species evolve due to natural selection.
Chartist Movement Movement aimed at getting political rights and influence for the working class.
Collective Bargaining Negotiation of wages and benefits between labor and management.
Command Economy Economy where prices of goods and services are set by a government.
Communism Economic system in which the government owns all means of production, extreme form of socialism.
Competition Economic law suggesting higher quality and better prices are created through competing companies.
Factory Acts Acts passed by Parliament limiting child labor and the length of the workday.
Gregor Mendel Father of genetics.
Karl Marx Co-author of the Communist Manifesto; father of communism.
Labor Union Organization of workers which negotiated with management for better wages and conditions.
Laissez-Faire To let alone; notion that government should not interfere in business.
Louis Pasteur French scientist: invented pasteurization & discovered the notion of bacteria.
Marie Curie French scientist who worked with radioactive materials.
Market Economy Economy where prices of goods and services are set by people and businesses.
Means of Production The physical and non-financial items used in the production of goods and services; (raw materials, facilities, machinery, tools, etc.).
Mine Acts Acts passed by Parliament preventing women & children from working underground.
Proletariat The urban working class; factory workers; Marx’s HAVE-NOTS.
Reform Acts Acts passed by Parliament extending suffrage to more and more people.
Self-interest Economic law suggesting people are motivated to start businesses because of the potential for profit.
Supply and Demand Natural law of market pricing where price is determined by availability and desirability of the product.
Suffrage Right to vote.
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