Chapter 22 Vocab & People

Front 1

enclosure movement

Back 1

Practice of fencing or enclosing common lands into individual holdings

Front 2

crop rotation

Back 2

The practice of alternating crops of different kinds to preserve soil fertility

Front 3

industrial revolution

Back 3

Term for changes beginning in the 1700s, when power driven machines began to do much of the work that people had done before

Front 4

factors of production

Back 4

Basic resources for industrialization, such as necessary land, capital, and labor.

Front 5

mechanization

Back 5

Use of automatic machinery to increase production.

Front 6

factory system

Back 6

Production of goods in a factory through the use of machines and a large number of workers.

Front 7

vulcanization

Back 7

Process of treating rubber to make it more useful.

Front 8

capitalism

Back 8

Economic system in which individuals, rather than governments, control the factors of production.

Front 9

commercial capitalism

Back 9

Early economic system in which most capitalists were merchants who bought and sold goods.

Front 10

industrial capitalism

Back 10

Type of capitalism that began during the Industrial Revolution when capitalists were involved in producing and manufacturing goods themselves, often using mechanized and industrialized methods of production.

Front 11

interchangeable parts

Back 11

Identical parts that can replace each other

Front 12

mass production

Back 12

System of producing large numbers of identical items

Front 13

corporations

Back 13

Businesses that allow people to buy stock in the company.

Front 14

monopoly

Back 14

Complete control of the production or sale of a single good or service by a single firm.

Front 15

cartels

Back 15

Corporate combinations that control entire industries

Front 16

business cycle

Back 16

Alternating periods of prosperity and decline

Front 17

depression

Back 17

Period in which the decreased demand of good causes the entire economy to sink.

Front 18

free enterprise

Back 18

System in which economic forces work automatically and naturally, without mercantilist laws and regulations

Front 19

laissez-faire

Back 19

Beliefe that government should not interfere with the operations of businesses.

Front 20

humanitarians

Back 20

People who work to improve the conditions of others.

Front 21

means of production

Back 21

Everything used to produce and exchange goods

Front 22

socialism

Back 22

Political and economic system in which the government owns the means of production

Front 23

utopian socialist

Back 23

Persons who believe that people can live at peace with each other if they live in small cooperative settlements, owning all the means of production in common and sharing the products.

Front 24

proletariat

Back 24

Name given by Karl Marx to the working class.

Front 25

communism

Back 25

Authoritatian socialism; economic and political system in which governments own the means of production and control economic planning.

Front 26

democratic socialism

Back 26

Political system in which the government takes over the means of production peacefully; people retain basic human rights and partial control over economic planning.

Front 27

utilitarianism

Back 27

Belief that a law was useful if it led to "the greatest happiness of the greatest number" of people.

Front 28

strike

Back 28

Refusal of workers to work until their demands are met

Front 29

unions

Back 29

Association of workers that combine forces and demands of different workers.

Front 30

collective bargaining

Back 30

Process of negotiation between management and union representatives.