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vocabulary

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
Industrial Revolution   greatly increases output of machine-made goods  
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Enclosures   large farm fields enclosed by fences or hedges  
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Crop rotation   switching crops each year to avoid depleting the soil  
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Industrilization   move to machine production of goods  
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Factors of production   land,labor,capital  
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Factories   bulidings that contain machinery for manufacturing  
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Entrepreneur   organizes , manages, takes business risks  
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Urbanization   city builiding and movement of people to cities  
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Middle Class   skilledworkers , merchants,rich farmers,professionals  
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Stock   limited ownership rights for company, sold to raise money  
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Corporation   company owned by stockholders, share profits not debts  
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Laissez faire   economic policy of not interfering with businesses  
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Adam Smith   defender of free markets, author of The Wealth of Nations  
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Capitalisim   system of privately owned businesses seeking profits  
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Utilitarianism   judge things by their usefulness  
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Socialism   factors of production owned by, operated for the people  
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Karl Marx   german jouornalist proposes a radical socialism, Marxism  
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Communism   society where people own , share the means of production  
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Unions   associations formed by laborers to work for change  
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Strike   call a work stoppage to pressure owners  
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Created by: vklose1
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