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History vocab

for history

QuestionAnswer
Industrial Revolution A time of greaty increased output of machine-made goods that began in England in mid 1700's
Enclosure fields where farmers experimented with productive seeding and harvesting
crop rotation one of the best developments by farmers
industrualization process of developing machine production of goods
Factors of production Resources needed to produce goods and services that the Industrual Revolution required
Factory Large buildings where merchants set up machines
Entrepreneur A person who organizes, manages, and takes on the rights of the risks of a buissness
Henry Bessmer British engineer who invented a cheap way to mass-produce steel
Urbanization City building and the migration of people to cities
Middle class A socail class made of skilled workers, proffesionals, buissness people, and wealthy farmers
Interchangeable parts Identical machine made parts
Assembly line Production moves in a line from one side to the other.
Division of labor allows workers to make many iteams quickley.
Specialization Economic concept that refers to separting tasks
Economic Interdependence where people rely on one other for resources, goods and services they need
Stock certain rights of ownership
corporation business owned by stockholders who share profits but are not responsable for debts
Laissez faire Economic poloicy of letting owners of industry and business set working conditions
Union Works joined togeather in voluntary labor associations
strike refuse to work
capitalism Economic system in which the feetons of production are privtely owened and money is invested to make more profit
socialism The factors of production are owned by the public operate for welfare of all
communism a form of complete socialism in which the means of production are owned by people
Created by: 29rlynch
 

 



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