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44 Cards in this Set

  • Front
  • Back

Early Capitalism

Creating interest for money that was leant

Competition and Freedoms of Capitalism

Allowing individuals to thrive in their own. Freedom of using abilities. Increase economy because of entrepreneurs

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

Values of Capitalism

Trading and charging for wealth. Generating wealth. Individu responsibility. Private ownership. Competition

Industrialization

Industries grow from homes to businesses

Cottage Industries

Companies supplied with wood to make textiles

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Madr hand made out of date.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

Industrial Revolution

Promoted free trade and individual hand work. Less government intervention and more independance. Caused a rise of demand of products.

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.

Colony

Territory belonging to European country. (Canada)

Protectorate

Area that melt sovereignty but overall owners by European country (Germany claimed Namibia it's protectorate in 1884)

Sphere of Influence

European country attempted to control political and economics of a country (Britain economically involved in trading with China in 1750)

Mercantilism

Government involvement in trade

Capitalism

Economic system for individual wealth

Industrialization

The process of moving the place of production shifts from the home and small craft shops to large factories

Imperialism

Association between people only benefiting one side

International Trade

Trade between countries

Network

A group or system of interconnected people or things

Tribute

Act or statement intended to show gratitude

Intermingle

To mix together

Sanctioned

Official approvment for an action or penalty

Eurocentric

A belief that European worldviews are superior to others

Accumulate

Gather together increasing quality of a thing

Exploitation

Use of a person or group for selfish purposes

Consumerism

Protection / promotion of consumer interests

Merits

The quality of worth

Turmoil

State of grief or confusion

Physiocrat

18th century farmer believing agriculture was wealth

Entrepreneur

People who take risks by launching business ventures

Initiative

Ability to access things independently

Oppression

Unjust treatment of a group

Communism

Government-run economy

Disposable Outcome

Income remaining after mandatory payments

Precipitated

Events that happen suddenly

Exacerbated

Making a situation worse

Prestige

Respect of something because of achievements

Ethically

Relating to moral principles

Four categories of the Columbian Exchange

The four categories are diseases animals plants and people

British advantages of industrialization

They had coal which was necessary for communication and transportation. We also had the biggest wages.

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)

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)

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)

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)

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.)