Shared Flashcard Set

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Vocab.
Vocab. Ch 25 Sec. 1 - 4
20
History
9th Grade
02/20/2013

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Cards

Term
Industrial Revolution
Definition
The rapid development of industry that occurred in Britain in the late 18th and 19th centuries, brought about by the introduction of machinery. It was characterized by the use of steam power, the growth of factories, and the mass production of manufactured goods
Term
Enclosure
Definition
An artificial or natural barrier that seals off an area
Term
Crop Rotation
Definition
The growing of different crops, in recurring succession, on the same land in contrast to monoculture cropping. Rotation usually is done to replenish soil fertility and to reduce pest populations in order to increase the potential for high levels of production in future years.
Term
Industrialization
Definition
the development of industry on an extensive scale
Term
Factors of Production
Definition
are any commodities or services used to produce goods and services.
Term
Factory
Definition
A building or group of buildings where goods are manufactured or assembled chiefly by machine
Term
Entrepreneur
Definition
A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so
Term
Urbanization
Definition
the social process whereby cities grow and societies become more urban
Term
Middle Class
Definition
A social class made up of skilled workers, professionals, business people, and wealthy farmers.
Term
Stock
Definition
The goods or merchandise kept on the premises of a business or warehouse and available for sale or distribution.
Term
Corporation
Definition
A company or group of people authorized to act as a single entity (legally a person) and recognized as such in law
Term
Laissez Faire
Definition
the doctrine that government should not interfere in commercial affairs
Term
Adam Smith
Definition
He argued that if individuals freely followed their own self-interest .
Term
Capitalism
Definition
An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state
Term
Utilitarianism
Definition
The doctrine that actions are right if they are useful or for the benefit of a majority
Term
Socialism
Definition
A political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole
Term
Karl Max
Definition
founder of modern communism; wrote the Communist Manifesto with Engels in 1848; wrote Das Kapital in 1867 (1818-1883)
Term
Communism
Definition
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
Term
Union
Definition
An association of workers, formed to bargain for better working conditions and higher wages
Term
Strike
Definition
To Refuse to work in order to force an employer to meet certain demands
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