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Junko Industrial Rev

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Term
Definition
Enclosure   The system in which wealthy landowners purchased large parcels of land and surrounded the area with hedges or fences  
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James Watt   He perfected the steam engine which provided an new source of power and allowed factories to be built in urban areas  
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Middle Class   The Industrial Revolution in England helped to increase the size of this social class  
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Urbanization   The increase size and population of cities  
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Factory Acts   These laws passed in England helped to limit the hours that children could work in the factories and mines  
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Crop Rotation   Farmers discovered that certain vegetables work well together to recharge the soil  
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Textiles   The industry was the first to become industrialized in England  
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Karl Marx   The father of Communism that wrote the Communist Manifesto  
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Adam Smith   The modern day Capitalist that wrote the book Wealth of Nations  
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Cottage Industry   Early agricultural economic system by which men would farm and women would make goods for the marketplace  
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Bourgeoisie   Factory owning middle class as described by Karl Marx  
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Proletariat   The working class that formed to overthrow the Bourgeoisie  
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Law of Self Interest   Individuals and businesses work for the good of themselves and not for the good of others  
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Law of Competition   Law that states quality will be high and prices would be low  
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Capitalism   The free market economic system that Adam Smith advocated  
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Communism   System of shared equality put forward by Karl Marx  
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Laissez Faire   The idea that governments should not regulate businesses  
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Created by: mjunko1
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