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44 Cards in this Set
- Front
- Back
Early Capitalism |
Creating interest for money that was leant |
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Competition and Freedoms of Capitalism |
Allowing individuals to thrive in their own. Freedom of using abilities. Increase economy because of entrepreneurs |
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Key Ideas of Capitalism |
Individualism and desire for money makes work. Self interested competition between traders. Individually owned property. Trade is private. It requires a free market |
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Values of Capitalism |
Trading and charging for wealth. Generating wealth. Individu responsibility. Private ownership. Competition |
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Industrialization |
Industries grow from homes to businesses |
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Cottage Industries |
Companies supplied with wood to make textiles |
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Effect of New Inventions Suring Industrial Revolution |
Madr hand made out of date. Could be made for a cheaper price. Less wages for workers which made buildings dangerous because no money to fox them |
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Industrial Revolution |
Promoted free trade and individual hand work. Less government intervention and more independance. Caused a rise of demand of products. |
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Effects of Industrialization |
New technology (steam engine), working conditions decreased with less profit, lack of health awareness for employees, materials are priority over employees, unequal freedoms and rights between employees and bosses same with women and children vs men. |
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Colony |
Territory belonging to European country. (Canada) |
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Protectorate |
Area that melt sovereignty but overall owners by European country (Germany claimed Namibia it's protectorate in 1884) |
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Sphere of Influence |
European country attempted to control political and economics of a country (Britain economically involved in trading with China in 1750) |
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Mercantilism |
Government involvement in trade |
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Capitalism |
Economic system for individual wealth |
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Industrialization |
The process of moving the place of production shifts from the home and small craft shops to large factories |
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Imperialism |
Association between people only benefiting one side |
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International Trade |
Trade between countries |
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Network |
A group or system of interconnected people or things |
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Tribute |
Act or statement intended to show gratitude |
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Intermingle |
To mix together |
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Sanctioned |
Official approvment for an action or penalty |
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Eurocentric |
A belief that European worldviews are superior to others |
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Accumulate |
Gather together increasing quality of a thing |
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Exploitation |
Use of a person or group for selfish purposes |
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Consumerism |
Protection / promotion of consumer interests |
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Merits |
The quality of worth |
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Turmoil |
State of grief or confusion |
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Physiocrat |
18th century farmer believing agriculture was wealth |
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Entrepreneur |
People who take risks by launching business ventures |
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Initiative |
Ability to access things independently |
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Oppression |
Unjust treatment of a group |
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Communism |
Government-run economy |
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Disposable Outcome |
Income remaining after mandatory payments |
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Precipitated |
Events that happen suddenly |
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Exacerbated |
Making a situation worse |
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Prestige |
Respect of something because of achievements |
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Ethically |
Relating to moral principles |
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Four categories of the Columbian Exchange |
The four categories are diseases animals plants and people |
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British advantages of industrialization |
They had coal which was necessary for communication and transportation. We also had the biggest wages. |
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Economic motives for imperialism |
Markets for finished goods. ( Indian China American colonies for British goods) Sources for raw materials. (Britain got cotton from Egypt and the American colonies Rubber and Tim from Malaya and oil from the Middle East) Investment of capital. (Great profits from railroads and mines in China, Africa, and Latin America) |
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Political motive for imperialism |
Nationalism. To build up and national pride. (French conquest of Indochina and West Africa after her defeat in the franco-prussian war) |
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Military motives for imperialism |
Military and Naval bases. (British Naval bases at Hong Kong, Singapore, Aden and Malta) Sources of Manpower for Army. LNorth American troops from an important part of the French army, or British trained sepoys in India) |
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Social motives for imperialism |
Outlet to Surplus populations to relieve economic and political pressure at home. (Italian and Japanese efforts to build up their territories populated by their own people) Humanitarian or The White Man's Burden.( The white man's believe that it was their obligation to bring their blessings to the backwards or uncivilized peoples of the world) |
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Religious motive for imperialism |
Conversion of natives to Christianity. (Particularly in Africa and the Far East. The Spanish and Portuguese did the same in the Americas.) |