Industrial Revolution
Where and when did the Industrial Revolution start?
England; mid 1700s
What did Britain do to keep industrial secrets from the United States?
Forbade engineers, mechanics, and toolmakers from leaving the country
What factor played a major role in the industrialization of the United States?
Railroad expansion
What is the purpose of labor unions?
It is an associations of workers seeking labor reforms to improve working conditions and pay.
What was the Industrial Revolution?
An increase in machine-made goods beginning in England during the 1700s
What impact did technological advances have on industry?
The production of goods was increased dramatically.
What was the benefit of being a stockholder in a corporation?
Stockholders are not personally responsible for its debts.
A social class made up of skilled workers, professionals, businessmen, and wealthy farmers
middle class
What was William Wilberforce known for?
He fought for the abolition of slavery.
What are the 3 factors of production?
land, labor, capital
What was the direct cause of urbanization?
Industrialization
How did the Industrial Revolution negatively affect cities?
It made the population grow faster than the housing supply.
What was a benefit of the railroad in Britain?
It offered faster, cheaper transportation for materials and goods; could operate in in most weather conditions and terrains.
What was a key idea in the free-market system?
The refusal to interfere in any economic matters.
The building of cities and the movement of people to cities is called
urbanization
How did the upperclass aristocrats view the wealthy middle class?
They look down upon the middle class. They believed they had made their fortunes in the "vulgar" business world.
List 3 positive effects of the Industrial Revolution.
1. Created jobs for workers.
2. Contributed to the wealth of the nation.
3. Fostered technological progress and invention.
4. Increased the production of goods.
5. Raised standard of living.
6. Provided hope of improvement in people's lives
What was the impact of the steam engine on the production of British goods?
It launched the railway age, which brought transportation to a new level and drove demand for products even higher.
Explain the economic policies of capitalism, socialism, and communism.
capitalism --> factors of production are privately owned
socialism --> factors of production are publicly owned
communism --> factors of production are owned by the people
A person who organizes, manages, and takes on the risks of a business is an
entrepreneur
What were 2 results of the Agricultural Revolution?
Many small farmers became tenant farmers or moved to cities. Enclosures were created by wealthy landowners where they experimented with new agricultural methods.
List the 3 main ways that the Agricultural Revolution led to the Industrial Revolution.
It led to population growth, increased food supplies, and caused farmers to lose land and seek other work.
What was the worldwide impact of industrialization?
It led to imperialism.
Name 3 legislative reforms that were enacted in the 1800s.
The Mines Act prevented women and children from working underground.
In England, it became illegal to hire children under the age of 9.
U.S. ends child labor, sets maximum hours in 1904
What is the laissez-faire policy?
A policy that let owners of industry set working conditions without government interference.