Industrialization 1
What is Industrialization?
The process of developing machine production of goods
What is a factory?
A large building in which machinery is used to manufacture goods
What is urbanization?
The growth of cities and the migration of people to them
What did Adam Smith write?
Wealth of Nations
What does the term laissez faire refer to?
The idea that government should not interfere with or regulate industries or businesses
Where did industrialization begin?
England/Britain
What could unions do to bargain for better working conditions?
Threaten to strike, or stop working
What is division of labor?
When one worker specializes in doing one task
Writer of the communist manifesto
Karl Marx and Fredrich Engels
What is communism?
An economic system in which all means of production are owned by the collective and private property does not exist nor social classes.
What are the three factors of production?
Land, labor, capital (or wealth)
What did Robert Owen work to establish?
A perfect community
What is mass production?
The system of manufacturing large numbers of identical items
ideology that favors privileges based on tradition.
conservatism
What is socialism?
An economic system in which the factors of production are owned by the workers
What's the difference between depression and inflation?
Inflation is rising of price while depression is a severe economic downturn
What was the name of the movement where big farms merged into smaller farms?
The enclosure movement
Communism aimed to abolish what?
Private Property
What three inventions helped to make cloth faster?
Spinning Jenny, Mule, Flying Shuttle
What is capitalism?
An economic system based on private ownership and on the investment of money in business ventures in order to make a profit
What is supply and demand?
Supply and demand is a core economic model where supply is the amount of a product available, and demand is the consumer desire for it;
Name FOUR problems of early industrialization
Poor living conditions: Poverty, sanitation problems, crowded living conditions, epidemics, families separated by different workplaces
Poor working conditions: long hours, dangerous machinery, child labor
Class tensions
Name FOUR major improvements in transportation that spurred the Industrial Revolution?
Steam engine
steam boats
canals
improved roads
railroads
Spinning Jenny
Flying Shuttle
Water Frame
Cotton Gin
James Hargraves
John Kay
Richard Arkwright
Eli Whitney
If possible, name one country who adopted communism.
None