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Online World History Vocab Lesson 12
World History Vocabulary
25
Social Studies
9th Grade
01/17/2012

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Term
Socialism
Definition
A system in which society, usually in the form of the government, owns and controls the means of production.
Term
Assembly Line
Definition
Manufacturing process in which parts are added in a sequential manner to create finished product faster.
Term
Corporation
Definition
Most common form of business organization, which is chartered by a state and given many legal rights.
Term
Factory System
Definition
A method of manufacturing that was first adopted in England at the beginning of the Industrial Revolution, where all processes of production were carried out under one roof.
Term
Cottage Industry
Definition
Formerly applied to manufacturing that took place in people's homes, prior to the Industrial Revolution.
Term
Karl Marx
Definition
The philosopher, social scientist, historian and revolutionary, who is one of the most influential socialist thinkers to emerge in the 19th century.
Term
Eli Whitney
Definition
An American inventor best known as the inventor of the cotton gin.
Term
Results of Railroads
Definition
They created new jobs, were less expensive means of transportation, which led to lower-priced goods, thus creating larger markets. Overall adding to the growth of the economy.
Term
Factors of Production
Definition
Not part of the final product - include land, labor, capital, and entrepreneurship.
Term
Mass Production
Definition
The production of large amounts of standardized products, including and especially on assembly lines.
Term
Laissez-Faire Capitalism
Definition
An economic theory from the 18th century that is strongly opposed to any government intervention on business affairs. "Let alone."
Term
Urbanization
Definition
The process in which an increasing proportion of an entire population lives in cities and the suburbs of cities.
Term
Entrepreneurship
Definition
A person interested in finding new business opportunities and new ways to make profits.
Term
Adam Smith
Definition
A Scottish philosopher and pioneer of political economy, he argued that free competition would lead to the best goods at the lowest prices. He wrote The Wealth of Nations.
Term
Great Britain
Definition
This is where the method of manufacturing first started at the beginning of the Industrial Revolution.
Term
Strike
Definition
A work stoppage caused by the mass refusal of employees to perform work.
Term
Communism
Definition
A socioeconomic structure and political ideology that promotes the establishment of an egalitarian (equal), classless, stateless society based on common ownership and control of the means of production and property in general.
Term
Henry Bessemer
Definition
An English inventor and engineer who invented the first process for mass-producing steel inexpensively.
Term
Agricultural Revolution
Definition
A period of agricultural development between the 18th century and the end of the 19th century, which saw a massive productivity and vast improvements in farm technology.
Term
Standard of Living
Definition
A level of material comfort as measured by the goods, services, and luxuries available to an individual, group, or nation.
Term
Rise of the Middle Class
Definition
Industrial growth gave rise to a new social status of citizen - the blue collar "working class."
Term
The Industrial Revolution
Definition
A period in which fundamental changes occurred in agriculture, textile and metal manufacture, transportation, economic polices, and the social structure in England.
Term
Interchangeable Parts
Definition
Parts that are so nearly identical that they will fit into any device of the same type, which allows easy assembly of new devices, and easier repair of existing devices, while minimizing both the time and amount of skill required by the person doing the assembly or repair.
Term
Division of Labor
Definition
A form of specialization in which the production of a product or service is divided into several separate tasks, each performed by one person.
Term
Labor Unions
Definition
Workers sought to win improved conditions and wages through these.
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