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27 Cards in this Set

  • Front
  • Back
People centered in one place working for a certain number of hours per day for fixed pay
factory system
The proletariat were
the workers
Domination of production of one product or service
monopoly
Wages were affected by
-cost production
-wages paid for other jobs
-number of workers available
Because of steam-powered machinery
workers performed one small job
Free enterprise and laissez-faire economies gave the most benefits to
employers
The Industrial Revolution caught on quickly in the United States because
it had natural resources and a strong government
The Industrial Revolution began in Great Britain because it had a favorable combination of
-available capital
-a labor force
-land
Groups that controlled all stages of an industry
cartels
Utilitarianism
laws were useful and could be good
In a capital system
governments do not control the factors of production
The Factory Act of 1833
called for factory inspections
Laissez-faire economics
means that the government does not interfere with business
Early factories were dependent on
a nearby water supply
Marx thought
that the workers needed to unite and overthrow the capitalist government
A strong central government
was an important factor in the nations that first industrialized
An oversupply of workers led to
lower wages
planting different crops in each field each year
crop rotation
led to the creation of the railroad
the steam engine
What is the purpose of business?
to make a profit
Why should we be worried about population growth as it relates to food production?
Eventually, population should outgrow food production leading to social problems.
Why haven't we run out of food to feed a growing population yet?
scientific advances
no government interference
laissez-faire economics
work for a fixed number of hours for fixed pay
factory system
land, capital, and labor
factors of production
producing large numbers of identical items
mass production
allowed for factory inspection and enforcement of child labor laws
Factory Act of 1833