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WHAG-25a

TermDefinition
Jethro Tull invents "seed drill" (a planting machine) in 1701 in England
James Watt greatly improves steam engine designs in the 1760's in Scotland
Eli Whitney invents cotton gin in America in 1793
Robert Bakewell genetically engineered livestock in the early 1700's in England
John Kay developed flying shuttle in 1733 in England
Robert Fulton invented first powered boat in America in 1807
Manchester English city, center of textile industry
Laissez-faire idea of giving maximum freedom to people to buy and sell as they please ("free market")
Adam Smith economist who saw benefits for society from Laissez-faire
William Wilberforce English leader working to end slavery
Communism extreme socialism
Socialism idea that the government, not the people, should own property, and markets should not be free
urbanization cities grow during Industrial Revolution
Reform political movement to reduce child labor, make factories safer, and improve working conditions
mining source of coal and iron, necessary for industrialization
unionization workers can bargain for better wages when they negotiate collectively instead of individually
equilibrium when there is free competition, and when the laws of supply-and-demand are unobstructed, they create maximum wealth
capitalism system in which you are allowed to invest your money into starting a new business or factory
corporation a large business owned by many people; each owns a small percentage of it
stock the percentage of a corporation owned by one individual person
Created by: Herr Smith
Popular World History sets

 

 



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