IR I
What country was the first to industrialize?
Great Britain
People start moving into cities in a process called___________.
Urbanization
This natural resource, in ample supply in England powered steam engines.
What is coal?
An entrepreneur is a type of...
a.scientist.
b.aristocrat.
c.business person.
d.personal secretary.
What is business person?
Economic system in which the factors of production are privately owned.
What is Capitalism?
Who is first used the term "life, liberty, and the pursuit of property"
John Locke
List 3 cons of communism:
- no private ownership
- decrease in incentives
- decrease in production
- limited freedom
- government corruption
This factory is where clothing was produced.
What is the textile factories?
This form of protest was used to fight for better working conditions
What is a strike?
Individuals that spent their time in mills or factories working, laborers, were part of this class in society.
Working Class or Proletariat
Name two causes that allowed Great Britain to industrialize
Land--Lots of Resources
Labor--Population Increase
Political Stability--Avoided Wars
Capital--Free Market, etc.
List 3 benefits of industrialization:
- creation of middle class
- increase in jobs
- more affordable products
- urbanization
What did the British government do to promote industrialization?
Invest in entrepreneurs
Karl Marx is considered the Father of which of the following?
What is Communism?
An economic system in which all means of production is owned by the government is called...
Communism
Name two negative effects of industrialization.
Pollution, crime, disease, over crowding, tenements, poor living conditions, poor sanitation
List two of the poor working and living conditions that many suffered moving into cities and working in factories.
Long Hours; Low Wages; Dangerous Working Conditions, Child Labor, etc.
These were created to increase rate of production.
What is a factory?
How does capitalism create incentive?
People are motivated to create new things due to the potential of gaining wealth
People eventually began to take action to organize and promote reform for working conditions. List any two things they did.
Strike, collective bargaining, unionize, sabotaging equipment, committees, bills
What event paved the way for the Industrial Revolution?
Agriculture Revolution
List the three factors needed to industrialize.
Land, Labor, and Capital
Why was child labor allowed in the 1800s?
- there were no laws against it
- children were needed to help provide for their families
- it was easy to take advantage of children
A policy that let owners of industry set working conditions without government interference.
What is the laissez-faire policy?
According to Karl Marx, this social class is to blame for the suffering of the poor.
What is the bourgeoisie?
Wren did the Triangle Factory Fire occur?
March 1911
Groups created to fight for workers rights.
What is Unions?
List 3 Negatives of the Industrial Revolution:
What is...
- child labor
- dangerous working conditions
- low wages
- pollution
- spread of disease
- long work hours
Major business owned by stockholders who share in its profits.
What is Corporations?
List 3 changes made due to Labor Reform Movements:
- shorter working hours
- higher pay
- decrease in child labor
- building/safety regulations implemented
Why is communism appealing to the poor?
- it eliminates competition and social classes
What was a benefit of the railroad in Britain?
It offered cheap transportation for materials and goods.
Social class made up of skilled workers, professionals, business people, and wealthy farmers.
What is the Middle Class
Who defended the free-market system of capitalism in the book, The Wealth of Nations?
Who is Adam Smith?
What is the invisible hand?
A metaphor for the unseen forces that move the free market economy through individual self-interest and freedom of production