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36 Cards in this Set

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Industrial Revolution
Greatly increased output of machine-made goods that began in England in the middle 1700s.
Enclosures
Larger Fields
Crop Rotation
Planting one crop, and then the next year planting another crop.
Industrialization
The process of developing machine production of goods, required such resources.
In order to run, factories needed to be by:
water:streams, rivers
entrepreneur
a person who organizes,manages, and takes on the risks of a business
the first locomotives where in
great britain
richard trevitchick
one of the first locomotive engenieers
Cotton Gin inventor
Whitney
Flying Shuttle
Kay
Crop Rotation
Townshend
"puddling Process"
Cort
Early Steam Engine
Newcomen
Spinning Mule
crompton
Water Frame
Arkwright
Steam Engine
Watt
Seed Drill
Tull
Process to remove Impurities by blasts of cold air blown through heated iron (steal)
Bessemer
Spinning jenny
Hargreaves
replaced charcoal with coke in iron melting
Darby
Power Loom
Cartwright
Urbanization
Movement of people to cities.
Middle Class
A social class made up of skilled workers, professionals, business people and wealthy farmers.
Positive Effects of Indus rev.
More jobs, more money, wealth to the nation, provided hope of improvement to people's lives.
Stock
Certain rights of ownership.
Corporation
business owned by stockholders who share in its profits but are not personally responsible for its debts.
Countries otehr than UK and USA in Indus.
germany and Belgium
Laissez Faire
(lehs-ay-FAIR)
economic policy of letting owners of industry and business set working conditions without interference.
Adam Smith
defended the idea of a free economy, or free markets. In his book "the Wealth Of Nations".
economic liberty=economic progress

1)Law of Self-intrest-work for their own good
2)Law of competition-comp forces better products
3)Law of supply and Demand-enough goods would be produced at the lowest price
Capitalism
Economic system in which the factors of production are privately owned and money is invested in business ventures to make a profit.
utilitarianism
government actions are useful only if they promote the greatest good for the greatest number of people.
socialism
the factors of production are owned by the public and operate for the welfare of all.
Karl Marx
Created a radical type of socialism called Marxism. "Communist Manifesto". Industrialization divided the human societys into warring classes.
Communisim
a form of complete socialism in which the emans of production all lands, mines factories, whatever would be owned by the people.Private property would not exist.All goods etc would be equally shared..

Cuba,Russia, China.
Unions
Voluntary Labour Associations, which factory workers joined due to their "hazordous" working environment and long hours.
strike
refuse to work