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16 Cards in this Set
- Front
- Back
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Industrial Revolution |
A period of rapid growth in the use of machines in maufacturing and production that began in the mid-1700s. |
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Enclosure Movement |
A process in Europe from 1700s to the mid-1800s where landowners fenced small fields to create large farms, allowing for mors efficient farming methods and increased the food supply. |
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Factors of Production |
The basic resources for industrization, such as necessary land, labor, and capital. |
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Cottage Industry |
A usually small scale industry carried on at home by family members using their own equipment. |
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Industrialization |
Developing industries for the production of goods. |
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Factory |
A place where goods are manufactured in mass quantity. |
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Labor Unions |
An organization representing workers' interests. |
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Strikes |
A work stopage. |
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Mass production |
The system of manufacturing large numbers if identical items. |
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Interchangeable Parts |
Identical parts that can replace each other. |
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Assembly Line |
A group of persons gathered for a particular purpose. |
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Laissez-faire |
A business system where companies are allowed to conduct business without interference by the government. |
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Entreprenuer |
A risk taker who starts a new business with economic system of capitalism. |
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Socialism |
A political and economic system in which society, usually in the form of government, owns the means of production. |
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Commmunism |
An economic and political system in which government owns the means of production and and controls economic planning; a socialist economic system without social classes. |
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Standard of Living |
A measure of the quality of life. |
