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11 Cards in this Set

  • Front
  • Back
Domestic System
The transformation when power-driven machinery in factories replaced work done in homes and on the field in the 1700 & 1800's
Enclosure Movement
The trend for large landowners gradually to fence and include public and private common lands in their own estates
Money available to invest in business
A person who undertakes risks to establish a business
Factory System
Method of production in which goods are made by workers and machines in one location (a factory) outside their homes
Industrial Capitalism
Economic System in which individuals continually reinvent profits and expand their business
Interchangeable Parts
Production method using identical, easy-to-assemble parts
Business owned by two or more entrepreneurs who share management, profits and losses
Business organization characterized by stockholders who buy shares, and is run by prfessional managers
Economic situation characterized by a business group and employment
Division of Labor
Production technique in which each worker does one specialized task