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Chapter 20 Vocab
| Term | Definition |
|---|---|
| Market Economy | Economic system in which the production and distribution of goods and services are determined by supply and demand in a free market, with minimal government intervention. This system contrasts with command economies where decisions are centrally planned. |
| Agricultural Revolution | Period in Europe from the mid-17th through the mid 19th centuries during which great agricultural progress was made and the fallow method of farming was eliminated. New inventions such as the seed drill and the steel plow made farming easier and faster. |
| Privacy | The right to be let alone, or freedom from interference or intrusion. Information privacy is the right to have some control over how your personal information is collected and used. |
| First Industrial Revolution | It marked a shift from agrarian economies to industrialized ones, characterized by the introduction of machinery, factory systems, and new energy sources like coal. |
| Textiles | A wide range of woven or knitted fabrics, made from various fibers such as cotton, wool, silk, and synthetic materials. |
| Crystal Palace | A massive iron and glass structure built in London for the Great Exhibition of 1851, showcasing the industrial achievements of various nations. |
| Factory System | A method of manufacturing that emerged during the Industrial Revolution, characterized by the centralized production of goods in large establishments where workers operated machines. |
| Railroads | A mode of transportation consisting of vehicles running on tracks, which played a pivotal role in the industrialization and economic development of Europe during the 19th century. |
| Urbanization | the physical growth of urban areas which result in rural migration and even suburban concentration into cities, particularly the very large ones. |
| Tariffs | A tariff is a tax on the import or export of goods between countries. Tariffs are a form of foreign trade regulation and a policy that taxes foreign products in order to promote or protect domestic industry. |
| Middle Class | A social group between the upper class and working class, characterized by a moderate level of income, education, and occupational prestige. |
| Nuclear Family | a family unit consisting of two parents and their children, typically living together in a single household. This structure contrasts with extended families, where multiple generations or relatives live together. |
| Daniel Defoe | Author of Robinson Crusoe (1719), Moll Flanders (1721), A Journal of the Plague Year (1722), Roxana (1724), and others less well known. |
| Canals | Human-made waterways constructed to allow for the passage of boats, ships, and water, often used for transportation and irrigation. |
| Telegraph | The telegraph is a revolutionary communication device that transmits messages over long distances using electrical signals. |
| Steamship | Watercraft powered by steam engines, which revolutionized maritime travel and trade during the 19th century. |
| Chartists | A working class movement which emerged in 1836 in London. The aim of the Chartists was to gain political rights and influence for the working classes. Their demands were widely publicized through their meetings and pamphlets. |
| Irish Potato Famine | A famine in 1845 when the main crop of Ireland, potatoes, was destroyed by disease. As a result, over 1 million Irish died of starvation or disease, while millions of others migrated to the United States. |
| Bessemer Process | First inexpensive industrial process for the mass production of steel from molten pig iron before the development of the open hearth furnace. Removes of impurities from the iron by oxidation with air being blown through the molten iron. |
| List's National System | A seminal work advocating for a nationalistic approach to economic policy, emphasizing the importance of state intervention in the economy to foster industrial growth. |
| Mass Production | The manufacturing of large quantities of standardized products, often using assembly line techniques and machinery, to achieve efficiency and reduce costs. |
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TrapeziousMilkington
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