Chapter 9

Question 1

Refers to the greatly increased output of machine-made goods that began in England during the 18th century

Answer 1

Industrial revolution

Question 2

The increase in their landholdings enables them to cultivate larger fields, using new seeding and harvesting methods, within these larger fields, Called ____

Answer 2

Enclosures

Question 3

The process of _____ proved to be one of the best developments of the scientific farmers

Answer 3

Crop rotation

Question 4

The process of developing machine production of goods, required such resources

Answer 4

Industrialization

Question 5

Britain had all the ____ , these were the resources needed to produce goods and services that industrial revolution required

Answer 5

Factors of production

Question 6

Wealthy textile merchants set up the machines in large buildings called____

Answer 6

Factories

Question 7

A person who organizes, manages, and takes on the risks of a business

Answer 7

Entrepreneur

Question 8

City buliding and the movement of people to cities

Answer 8

Urbanization

Question 9

A social class of skilled workers, professionals, businesspeople, and wealthy farmers

Answer 9

Middle class

Question 10

A business owned by stockholders who share in its profits but are not personally responsible for its debts

Answer 10

Corporation

Question 11

Refers to the economic policy of letting owners of industry and business set working conditions without interference

Answer 11

Laissez faire

Question 12

A professor at the university of Glasgow, Scotland, defended the idea of a free economy, or free markets, in his 1776 book ‘The Wealth of Nation’

Answer 12

Adam Smith

Question 13

An economic system in which money is invested in business ventures with the goal of making profit

Answer 13

Capitalism

Question 14

An English philosopher named Jeremy Bentham introduced the philosophy of ___

Answer 14

Utilitarianism

Question 15

The factor of production are owned by the public and operate for the welfare of all

Answer 15

Socialism

Question 16

The writings of a German journalist named _______, Introduced the world to a radical type of socialism called Marxism

Answer 16

Karl Marx

Question 17

Marx described _____as a form of complete socialism in which the means of production

Answer 17

Communism

Question 18

To press for Reforms, workers joined together in voluntary associations called ____

Answer 18

Unions

Question 19

Negotiations between workers and their employers

Answer 19

Collective bargaining

Question 20

If factory owners refused these demands, union members could ____ or refuse to work

Answer 20

Strike