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