Most cheap labor came from these two groups of people
Who are women and children?
100
Factors of Production are privately owned and used to make a profit
What is Capitalism?
100
Karl Marx wrote this to describe perfect form of communism
What is Communist Manifesto?
100
Urbanization
What is city building and movement of people to cities?
200
The first source of power for machines came from this
What is water?
200
Cities grew so fast, known as urbanization, that they were not able to develop these factors (name at least 1)
What are sewer systems, schools, hospitals or health clinics?
200
The government intervenes in the economy for the greatest good for the greatest number of people
What is Utilitarianism?
200
This is what Thomas Malthus was trying to say in his Essay on the Principle of Population
What is the fact that the population was growing faster than is room to grow the food supply?
200
Crop Rotation
What is alternating crops to restore nutrients to the soil?
300
These 2 inventions greatly helped in transporting manufactured goods
What is the steamboat and locomotive?
300
This was the social class made up of skilled workers, professionals, business people, and wealthy farmers
What is the Middle Class?
300
A company or source of income is collectively owned and operated by everyone and the profit is equally shared.
What is Socialism?
300
David Ricardo's research focused on this
What are wages?
300
Businesses owned b stockholders who share in its profit but are not personally responsible for its debts
What is a corporation?
400
The 3 factors of production
What are land, capital, labor?
400
This is where raw materials came from to make finished products after the manufacturing country ran out or low on raw materials
What are Unindustrialized nations?
400
An entrepreneur could be called this if they are out to make a profit at any cost, or this if they are out to do whatever it takes to advance the standard of living, innovation, and production.
What is a Robber Baron or Captain of Industry?
400
This was an economic threat and was ended in England in 1807
What is slavery?
400
Unavoidable consequences of location
What are Accidents of Geography?
500
These factors allowed England to industrialize first
What are waterways, small area, supportive government, easy loans and grants, growing population and economy?
500
This group of people did not like the concept of rapid and "evil" industrialization, so they attacked factories
Who are Luddites?
500
Adam Smith's idea that the economy will fix itself without any intervention in terms of supply and demand
What is the Invisible Hand?
500
This man argued that education should be free and required of every child
Who is Horace Mann?
500
Policy of extending one country's rule over many other lands