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WH chapter 19 voc

World history chapter 19 part 2

TermDefinition
Industrial Revolution When machines began to do to most of the work that people had done before.
Enclosure Movement Practice of fencing or enclosing common lands into individual holdings.
Crop Rotation Alternating crops of different kinds to preserve soil fertility.
Factors Of Production Basic resources necessary for industrialization, such as land, capital, and labor.
Mechanization Use of automatic machinery to increase production.
Domestic System Method of production in which work is done in homes rather than in a shop or factory.
Factory System Production of goods in a factory through the use of machines and a large number of workers.
Bessemer Process Method of making steel that involves the forcing of air through molten iron to burn off carbon and other impurities.
Capitalism Economic system in which individuals own the factors of production.
Commercial Capitalism Merchants who bought sold, and exchanged goods.
Industrial Capitalism Capitalists were involved in producing and manufacturing goods themselves, often using mechanized.
Division Of Labor Civilization in which different people perform different jobs.
Interchangeable Parts Parts that can go equally well in other components.
Mass Production System of manufacturing large numbers of identical items.
Sole Proprietorship Business owned and controlled by one person.
Partnership Business owned and controlled by two or more people.
Corporation Organization in which individuals buy shares of stock and elect directors to decide policies.
Monopoly Complete control of the production or sale.
Cartels Combinations of corporations that control an entire industry.
Business Cycle Alternating periods of prosperity and decline.
Depression Lowest point of a business cycle.
Free Enterprise Economic system based on supply, demand, and competition.
Laissez - Faire Believe that the government should not interfere with business.
Utilitarianism Believe that everything should be useful.
Strike People refusing to work until there demands are met.
Unions Associations of workers
Collective Bargaining Process of negotiation between union members and management members
Socialism Political system in which the government owns means of production and operates them for the welfare of all people.
Utopian Socialist People believed you could live in peace if you lived in a small settlement.
Burgesses City dwelling middle class
Proletariat Name of the working class
Domestication Taming of animals
Created by: emmaley
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