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Industrial Revolution Vocabulary. Take out two pieces of binder paper and fold into thirds. industrialization. The process of developing machine production of goods. Industrial Revolution. Increased output of machine-made goods that began in England during the 18th century.
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Industrial Revolution Vocabulary • Take out two pieces of binder paper and fold into thirds.
industrialization • The process of developing machine production of goods
Industrial Revolution • Increased output of machine-made goods that began in England during the 18th century
Agricultural Revolution • Wealthy bought a majority of the land and enclosed it, allowing them to cultivate larger fields and explore new farming methods. This allowed them to experiment with new agricultural methods and forced small farmers to become tenant farmers or give up and move to the city.
enclosures • Large fields surrounded with fences or hedges
Crop rotation • Planting different crops in a field at different times to in order to replenish and keep the soil healthy
Factors of production • Resources needed to produce goods and services that the Industrial Revolution required • Land, Labor, and Capital
Natural resources • Something such as land, a mineral, natural energy that exists in a country
entrepreneur • person who organizes, manages, and takes on the risk of a business
urbanization • City building and the movement of people to the cities
middle class A social class of skilled workers, professionals, business people, and wealthy farmers
demographics Information about the people who live in a particular area. Like how many live there and what type of people they are
private sector • The industries and services in a country that are owned and run by private companies
public sector • The industries and services in a country that are owned and run by the government
rural • The country or reminding you of the country
urban • Relating to a city
corporation • A business owned by stockholders who share in its profits but are not personally responsible for its debts
stock market • The business of buying and selling stock
laissez faire • Letting owners of industry and business set working conditions without interference
Adam Smith • Defended his idea of free economy or free markets in his 1776 book, The Wealth of Nations
economics • The study of the way in which money and goods are produced and used
Karl Marx • Introduced the radical type of socialism called Marxism, and helped write, The Communist Manifesto
capitalism • Economic system in which money is invested in business ventures with the goal of making a profit
communism • A form if complete socialism in which the means of production-all land, mines, factories, railroads, and businesses- would be owned by the people
socialism • The factors of production are owned by the public and operate for the welfare of all. A concern for social justice
unions • A union spoke for and represented all the workers in a specific trade
collective bargaining • Negotiations between workers and their employers for better working conditions and higher pay
strike • When workers refused to work because their demands have not been met
reform laws • Laws passed to improve working conditions for children and women
