super easy
money invested as a good used to produce other goods.
what is captial
a Scottish economist, philosopher, pioneer of political economy, and a key figure during the Scottish Enlightenment
Adam smith
a soldier or party of soldiers performing a particular duty.
what is Picket
a series of workers and machines in a factory by which a succession of identical items is progressively assembled.
what is Assembly Line
was an unprecedented increase in agricultural production in Britain arising from increases in labour and land productivity between the mid-17th and late 19th centuries.
what is Agricultural Revolution
a work stoppage, caused by the mass refusal of employees to work. usually takes place in response to employee grievances.
what is a strike
a Scottish inventor, mechanical engineer, and chemist who improved on Thomas Newcomen's 1712 Newcomen steam engine with his Watt steam engine in 1776, which was fundamental to the changes brought by the Industrial Revolution in both his native Great Britain and the rest of the world.
who is james Watt
a political theory derived from Karl Marx, advocating class war and leading to a society in which all property is publicly owned and each person works and is paid according to their abilities and needs
what is Communism
what is Division of Labor
the process of change from an agrarian and handicraft economy to one dominated by industry and machine manufacturing. These technological changes introduced novel ways of working and living and fundamentally transformed society.
what is Industrial Revolution
the amount of physical, mental, and social effort used to produce goods and services in an economy.
what is Labor
English inventor, whose steel-making process would become the most important technique for making steel in the nineteenth century for almost one hundred years from 1856 to 1950.
who is Henry Bessemer
a political, social, and economic philosophy encompassing a range of economic and social systems characterised by social ownership of the means of production and democratic control, such as workers' self-management of enterprises.
what is Socialism
The proletariat is the social class of wage-earners, those members of a society whose only possession of significant economic value is their labour power. A member of such a class is a proletarian.
what is Proletariat
what is joint-Stock Company
a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
what is Entrepreneur
French chemist and microbiologist renowned for his discoveries of the principles of vaccination, microbial fermentation, and pasteurization.
who was Louis Pasteur
is an economic system in which transactions between private groups of people are free from or almost free from any form of economic interventionism such as regulation and subsidies.
what is Laissez-faire
The history of trade unions in the United Kingdom covers British trade union organisation, activity, ideas, politics, and impact, from the early 19th century to the present.
what is Union (Labor Union)
the economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances, which a government should encourage by means of protectionism.
what is Mercantilism
withdraw from commercial or social relations with (a country, organization, or person) as a punishment or protest.
what is a Boycott
American inventor and businessman who has been described as America's greatest inventor. He developed many devices in fields such as electric power generation, mass communication, sound recording, and motion pictures
who was thomas Edison
the exploitation of children through any form of work that deprives children of their childhood, interferes with their ability to attend regular school, and is mentally, physically, socially and morally harmful.
what is Child Labor
major industry. It is largely based on the conversion of fibre into yarn, then yarn into fabric. These are then dyed or printed, fabricated into cloth which is then converted into useful goods such as clothing, household items, upholstery and various industrial products
what is Textile Factory
a parliamentary grant to the sovereign for state needs.
what is Subsidies